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In project management, a critical path is the sequence of project network activities that adds up to the longest overall duration, regardless of whether that longest duration has float or not. This determines the shortest time possible to complete the project. "Total float" (unused time) can occur within the critical path.
Critical path drag is a project management metric used to schedule analysis and compression in the critical path method of scheduling. Drag cost is the reduction in the expected return on investment for a project due to an activity's or constraint's critical path drag. It is often used to justify additional resources that cost less than the ...
The program evaluation and review technique (PERT) is a statistical tool used in project management, which was designed to analyze and represent the tasks involved in completing a given project. PERT was originally developed by Charles E. Clark for the United States Navy in 1958; it is commonly used in conjunction with the Critical Path Method ...
A Gantt chart created using Microsoft Project. Note (1) the critical path is in red, (2) the slack is the black lines connected to non-critical activities, (3) since Saturday and Sunday are not work days and are excluded from the schedule, some bars on the Gantt chart are longer if they cut through a weekend.
The term project management was not used prior to 1954 when US Air Force General Bernard Adolph Schriever introduced it for military purposes. In the years to follow, project management gained relevance in the business world — a trend that had a lot to do with the formation of the American Association of Engineers AACE (1956), and Rang and DuPont's Critical Path Method, which has been used ...
Graphical Evaluation and Review Technique (GERT) is a network analysis technique used in project management that allows probabilistic treatment both network logic and estimation of activity duration. The technique was first described in 1966 by Dr. Alan B. Pritsker of Purdue University and WW Happ.
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