CompTIA Project+ (PK0-005)Project Life Cycle PhasesHard
A project manager is creating a project schedule for a new product launch. She needs to identify the earliest and latest dates each activity can start and finish without delaying the overall project. What analytical technique is she employing?
- AWhat-if Scenario Analysis
- BResource Optimization
- CCritical Path Method (CPM)
- DMonte Carlo Simulation
Show answer & explanationAnswer & explanation
Correct answer: C. Critical Path Method (CPM)
The Critical Path Method (CPM) is a schedule network analysis technique used to determine the earliest and latest possible start and finish dates for activities, and to identify the critical path, which dictates the shortest possible project duration.
Why the other options are wrong
- A. What-if Scenario Analysis involves analyzing various scenarios to predict their effect on project objectives.
- B. Resource Optimization techniques (e.g., leveling, smoothing) are used to adjust the schedule based on resource availability.
- D. Monte Carlo Simulation is a quantitative risk analysis technique that models project outcomes by running multiple simulations.
Critical Path Method (CPM)
A schedule network analysis technique to determine the earliest and latest possible start and finish dates for activities, and to identify the critical path.
- Calculates float (slack) for non-critical activities.
- The critical path has zero or negative float.
- Any delay on the critical path delays the entire project.
Memory trick: CPM finds the core path, Monte Carlo simulates, What-if explores scenarios.