Time is the most critical element for improving the effectiveness of a construction project. If a project runs beyond its scheduled time, it results in increase of contract costs, liquidated damages or extended overheads. When this happens, it becomes more complicated to find out which factor is responsible, as there are various events causing the delay. Monitoring and managing project schedule, to ensure that the project is completed on time is always a challenge for every project manager. Any delay in the project schedule will have an adverse effect on the other aspects of the project.
Critical Path Method (CPM) has been accepted as an effective management tool for managing large private and public construction projects. Nowadays it is the most extensively practiced scheduling technique. It divides the entire project into several individual activities and estimates the probable time to complete the overall project. A CPM schedule is intended to direct the involved parties regarding the relative significance of performing certain activities within the project completion parameters. In this process, it lays down various inter-related activity paths to ensure the completion of the project on time. For instance, it specifies to participants whether their job or activity is critical, non-critical, or has any float connected with its performance. |
