Project management Essay Example | Topics and Well Written Essays - 500 words - 8

Project management - Essay Example (Knapp, B. W., 2010, p.62) CPM is used for analyzing the projects by estimating the longest series of tasks or with those tasks which have least slack by a project network. I prefer it because even after being a traditional technique it is most frequently used in managing the project. (Uher, T. E., 2003, p.38) It has the ability to calculate starting and finish date of the given project, enabling project managers to find out exact dates for every activity and compare what should be happening to what is actually happening and respond accordingly. It has following added advantages over other techniques and methods. My decision for choosing CPM technique was justified once I compared it with other traditional technique, PERT and scheduling analysis technique like critical chain scheduling. Both other techniques have some limitations, like probabilistic nature of PERT, in which estimations are unsure. (Schwalbe, K., 2010, p. 236). Pert lays more stress on the time element while in CPM efforts are made to make optimum use of resources. PERT can only be used on entirely new projects only. (Singla R. K., 2010, p. 283) The Critical Chain approach has stated advantages over the conventional approaches. This approach has its own limitations, like in the scenario where simultaneously different projects are handled using the same resource is not workable, due to loss of resource productivity. (NocêRA, R. D. J., 2013, p.283) While on the other hand CPM can handle multiple projects simultaneously. (Demkin, J. A., 2008, p.733) Critical chain scheduling not a revolutionary approach, fundamentally it is based on CPM theory. (Levine, H. A., 2002, p.89) Another major limitation of Critical Chain Scheduling is that it is expensive to implement, and depending on the project has certain degree of in accuracy as well. (Sebastian N., 2007,