Answer to Question #316037 in Management for Shiels

Question

Lean Management has been practices widely in many organizations, in the move to efficiently manage resources available. You are required to discuss the importance of 4 areas of focus from TIMWOODS.

 

a.                  Critical Path Method (CPM)

 

b.                  Program Evaluation & Review Technique

Answer 1

a)The critical path method, or critical path analysis, is an algorithm for scheduling a set of project activities. It is commonly used in conjunction with the program evaluation and review technique.

b)Program Evaluation and Review Technique (PERT) is a method used to examine the tasks in a schedule and determine a Critical Path Method variation (CPM)