GUIDELINES accessible to management are continually changing and

 GUIDELINES
FOR NETWORK CONSTRUCTION

1.      
The
starting event and ending event of an activity are called tail event and head
event respectively.

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2.      
The
network should have a unique starting node (tail event).

3.      
The
network should have a unique completion node (head event).

4.      
No
activity should be represented by more than one arc in the network.

5.      
No
two activities should have the same starting node and the same ending node.

6.      
Dummy
activity is an imaginary activity indicating precedence relationship only.
Duration of a dummy activity is “zero”.

Advantages of using the
critical path method

In the age where tools accessible to management are
continually changing and progressing the ability of CPM to still command regard
among the project groups and supervisors is declaration to the reality that
this tools has proved exceptionally important and beneficial. Listed below are
few of the major reasons why CPM is still used in organizations today:

–        
CPM
encourages managers and project members to graphically draw and identify
various exercises that require to be accomplished for project completion. This
step encourages all individuals in the extend group to evaluate and recognize
the requirements of the project in a basic and coherent design. Activities that
precede and take after other activities moreover require their own evaluation
and analysis. This factor become exceptionally vital in case the activities are
conducted at diverse physical area and the time and taken element is moreover
subjected to external factors that have the potential to seriously affect the
project time.

–        
The
network diagram too offers a prediction of the completion time of the project
and can help in the planning and scheduling of activities required for the
completion of the project.

–        
Distinguish
critical path for the project in the next arrange of the analysis of network
diagram, in doing this, the management of the project has a sensible gauge of
potential issues that might happen and the activities at which these issues
might happen. In numerous cases the critical path moreover determines the
allotment of assets. The interpretation of the network diagram moreover
guarantees that the same asset is not apportioned for the same period of time.

–        
The
CPM moreover empowers a disciplined and logical approach to planning,
scheduling and managing a project over a long period of time. Often, the root
cause of numerous venture overruns is the disappointment to distinguish the
components that have the potential to truly affect the project.

–        
By
constraining people in the venture group to identify exercises, consideration
to points of interest can be achieved. In turn, this makes a difference a
genuine and much more exact picture of the forms that need to be set up for the
project and the time and cost that is required for each stage.  

–        
Optimization
of the time-cost relationship in the project management is moreover conceivable
using the CPM as managers can observe successfully over a period of time. In numerous
circumstances the cost structures in organization might have different form of
costing utilizes for distinctive projects. The task of identifying the exact
cost of the project is not simple and is not universal to all companies. Developing
time-cost connections for project requires that all project managers are able
to recognize root cause of the issues that are affecting the time and the cost
variable.

–        
The
CPM also distinguishes slack and drifts time in the project. Hence, project
managers can identify when assets can be reallocated to different activities
and the shifting and moving of activities to best optimize the utilization of
the assets.

–        
CPM
can also help estimate the project term and this data can be utilized to
minimize the sum of direct and indirect costs involved in the project scheduling
and planning.  

–        
CPM
strategies are based on deterministic models and the estimation of time activities
are based on authentic information maintained within the organization or data
gotten from external source.