3.3.4 Critcal Path Analysis

Question 1

What is the earliest start time?

Answer 1

How soon a task in a project can begin. It is influenced by the length of time taken by tasks which must be completed before it can begin

Question 2

What is a critical path

Answer 2

The tasks involved in a project which if delayed could delay the project

Question 3

What is critical path analysis (CPA)/network analysis

Answer 3

A method of calculating the minimum time required to complete a project, identifying delays which could be critical to its completion.

Question 4

What is a free float

Answer 4

The time by which a task can be delayed without affecting the following task.

Question 5

What is the latest finish time?

Answer 5

The latest time that a task in a project can finish

Question 6

What is network diagram

Answer 6

A chart showing the order of the tasks involved in completing a project, containing information about the times taken to complete the tasks

Question 7

What are nodes

Answer 7

Positions in a network diagram which indicate the start and finish times of a task

Question 8

What are total float

Answer 8

The time by which a task can be delayed without affecting the project

Question 9

What is the nature and purpose of critical path analysis?

Answer 9

• Efficiency
• decision making
• time based management
• working capital control

Question 10

Efficiency

Answer 10

Producing a network diagram can help a business to operate efficiently. For example, a network shows those tasks that can be carried out at the same time. This can help save production or installation time and the use of resources.

Question 11

What is decision making?

Answer 11

• The use of business model such as network analysis is argue to be more Scientific and objective method of decision-making. It is suggested that estimating the length of time a project would take based on past information and analysis of the task involved should lead to deadlines been made more effectively. As the implications of delays can be assessed identified and prevented

Question 12

Working capital control ?

Answer 12

Identifying when resources will be required in projects can help a business to manage its working capital cycle. That will diagrams allow the business to identify exactly when materials and equipment will be used in a project.