CPM, the Critical Path Road shows the optimal trajectory of a project and its activities. Finding this route simplifies the management of the project, however, relying solely on this tool is risky since it does not contemplate the uncertainty. Other aspects to know about CPM are:
Knowing the activities that make up the project, its priorities and dependencies can be associated with a certain period. In this way, it is possible to establish the necessary resources in each case and distribute the workloads.
With this data the critical path can be visualized, that will be calculated in function of the successive activities whose slack is equal to zero.
In its application it has to be taken into account that there can exist more than one critical route and that updating is fundamental.
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Project Management by the Critical Chain Method
The Critical Chain Method is the youngest of all methodologies for the management of proposed projects and yet the most applauded for its excellent results in terms of project management. It is especially suitable for complex projects because of its simplicity of monitoring and control to be exercised. The most outstanding aspects of this technique are:
Facilitates priority setting and decision making.
Ensures effective project protection.
Its operation is based on the detection of activities that mark the maximum duration of the project, which are then considered as critical activities.
To achieve efficiency, the estimated timeframes for achieving the activities are reduced according to the initial planning and, instead, time buffers are set that are located at strategic points.
Three types of shock absorbers can be distinguished (project, feed and resource), each of which has a different protection function, all of which are complementary and necessary.
The way to control the development of the project is reduced to monitoring the speed of consumption of the buffers and take the necessary actions when appropriate.
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