Project Management Assignment Example | Topics and Well Written Essays - 250 words

Project Management - Assignment Example There are two fundamental scheduling network techniques known as Critical Path Method (CPM) and Program evaluation and review technique (PERT). However, use of CPM technique has greatly increased in the last many years. This technique is advantageous as it covers both scheduling and costing of projects (Meredith and Mantel, 2009). Under the CPM, a project is divided into nodes, and initial event is taken as 0 and final as n event. Time taken for completion of tasks in a project is denoted as x1, x2,†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦xn. For example, a good network diagram is developed that also requires the list of all activities on the work breakdown structure (WBS). Duration of each activity is determined that results into a critical path, which is the least time for completion of a project. For a project, critical path is determined by adding the duration of activities of different paths starting from start to finish of a project as shown in the