Events sequencing is critical to development of a Critical Path Model (CPM).
The Critical Path Model (CPM) refers to the logical sequencing of events in a bid to determine the most efficient way to accomplish project goals. Developed in the 1950s, CPM acknowledges that the successful completion of a project requires a careful sequencing of activities and a determination of the time necessary to complete each. When CPM is used, both time and resources are saved as the most efficient route is followed.
Merits of CPM: Resource Allocation
CPM helps in project planning and gives project managers a reasonable estimate of the problems they are likely to experience in the course of the project. This helps managers not only allocate resources in a prudent manner but also helps them prepare contingency plans.
Merit: Scheduling and Long-Term Planning
When CPM is used, long-term planning is possible as all members of a team are involved in the scheduling of activities. This helps the team identify processes that are likely to cause duplicity and generally helps achieve cost-effectiveness. The result is that an accurate understanding of the project is achieved by the team. CPM helps in identifying potential long-term risks right at the commencement of a project.
Demerits of CPM: Unpredictability of Some Processes
One assumption under CPM is that project managers and their teams are well aware of the various activities in a project and that they are in a position to predict the sequence of events with a reasonable degree of accuracy. In real life, however, this is hardly the case and many factors influencing a project are not only unpredictable but also beyond the control of the team.
Demerit: Evolution of Paths
CPM also operates on the assumption that once a path has been identified, it will remain unchanged till the end of project. However, critical paths evolve as the project progresses and the result is that new paths have to be developed as the project progresses. When there are many activities in a project, there is always the risk that a mistake could be made in the development of the critical path. This ultimately means the team has to keep reviewing the critical path diagram created at the commencement of the project.
The merits of CPM far outweigh its demerits and is a great aid to project managers.
Tags: Critical Path Model, Path Model, project managers, activities project, commencement project, Critical Path