The correct answer is D. All of the above.
Critical Path Method (CPM) is a project management technique that is used to schedule, analyze, and control the time and cost of a project. It is a network-based technique that uses a series of arrows to represent the activities that need to be completed in order to finish the project. The arrows are connected to nodes, which represent the events that occur when an activity is completed.
The first step in CPM is to break down the project into its individual activities. This can be done by brainstorming, interviewing stakeholders, or reviewing project documents. Once the activities have been identified, the next step is to estimate the time required to complete each activity. This can be done by using historical data, expert judgment, or simulation.
The next step is to create a network diagram. The network diagram is a graphical representation of the project schedule. It shows the activities that need to be completed, the order in which they need to be completed, and the dependencies between them.
The critical path is the longest path through the network diagram. It is the path that determines the overall duration of the project. The critical path activities are the activities that must be completed on time in order to meet the project deadline.
Once the network diagram has been created, the next step is to calculate the earliest start time (EST), earliest finish time (EFT), latest start time (LST), and latest finish time (LFT) for each activity. The EST and EFT are calculated by working forward through the network diagram, starting from the start node and ending at the finish node. The LST and LFT are calculated by working backward through the network diagram, starting from the finish node and ending at the start node.
The float is the amount of time that an activity can be delayed without delaying the project deadline. The total float is the difference between the EFT and the LFT. The free float is the difference between the EFT and the EST of the immediately following activity.
The critical path activities have zero float. This means that they cannot be delayed without delaying the project deadline. The non-critical path activities have positive float. This means that they can be delayed without delaying the project deadline.
CPM can be used to schedule, analyze, and control the time and cost of a project. It is a powerful tool that can help project managers to make informed decisions about the project schedule and budget.
Here are some additional details about each of the options:
A. A project is divided into various activities.
This is the first step in CPM. The project is broken down into its individual activities. This can be done by brainstorming, interviewing stakeholders, or reviewing project documents.
B. Required time for each activity is established.
The next step is to estimate the time required to complete each activity. This can be done by using historical data, expert judgment, or simulation.
C. Net work is drawn by connecting the activities and the events.
The next step is to create a network diagram. The network diagram is a graphical representation of the project schedule. It shows the activities that need to be completed, the order in which they need to be completed, and the dependencies between them.
D. All of the above.
All of the above are necessary steps in CPM.