In order to receive proof of CEU credits, you must watch this presentation in its entirety and complete the survey.
Level: Basic
TCM Section(s):
7.2. Schedule Planning and Development
7.4. Resource Planning
Venue: 2020 AACE International Conference & Expo
Abstract: This paper is intended to begin a discussion about a topic often overlooked by project controls professionals. There are numerous definitions and descriptions of a schedule’s critical path, all of which have their basis in the element of time.Critical path is used to analyze a project’s schedule performance and to evaluate the likelihood of meeting one or more schedule constraints of a project.
In addition to identifying and monitoring the time-based critical path, some analysis can be done to identify which logic path(s) contain a high degree of project resources. For instance, some schedules can have a logic path that carries over 50% of the project’s cost. This path may not necessarily have the duration to be “critical” in terms of time management, but it can have an impact on a project’s financial performance if not monitored properly. Therefore, it can be vital to identify and monitor the “most labor manhours critical path” separately from the conventional critical path.
This presentation and discussion of the “most labor manhours critical path” is intended to provide practitioners with the needed terminology to describe the logic path containing the most direct labor manhours. Moreover, the author intends to answer the question of whether this topic should be considered time management, or cost management, or a hybrid of both.
TCM Section(s):
7.2. Schedule Planning and Development
7.4. Resource Planning
Venue: 2020 AACE International Conference & Expo
Abstract: This paper is intended to begin a discussion about a topic often overlooked by project controls professionals. There are numerous definitions and descriptions of a schedule’s critical path, all of which have their basis in the element of time.Critical path is used to analyze a project’s schedule performance and to evaluate the likelihood of meeting one or more schedule constraints of a project.
In addition to identifying and monitoring the time-based critical path, some analysis can be done to identify which logic path(s) contain a high degree of project resources. For instance, some schedules can have a logic path that carries over 50% of the project’s cost. This path may not necessarily have the duration to be “critical” in terms of time management, but it can have an impact on a project’s financial performance if not monitored properly. Therefore, it can be vital to identify and monitor the “most labor manhours critical path” separately from the conventional critical path.
This presentation and discussion of the “most labor manhours critical path” is intended to provide practitioners with the needed terminology to describe the logic path containing the most direct labor manhours. Moreover, the author intends to answer the question of whether this topic should be considered time management, or cost management, or a hybrid of both.