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Risk Reduction with Effective Critical Path Method (CPM) Schedules

Risk Reduction with Effective Critical Path Method (CPM) Schedules

The purpose of the Critical Path Method (CPM) schedule (A scheduling technique whose order and duration of a sequence of task activities directly affect the completion date of a project)is to assist in the cost effective management of the project, anticipate problem areas, and allow the project team to mitigate the impact of unforeseen conditions. What a tool! Without this tool, the project management team is simply reacting to a crisis of the moment and their hurried reaction may exacerbate an already difficult project by doing harm in the response to the disaster of the moment.

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Benchmarking – The Early Path to Success

Benchmarking – The Early Path to Success

The benchmarking process is one where a project’s general scope using key metrics is compared to other similar projects. This general metric/scope includes such items as total gross square feet, net square feet, rentable square feet, net-to-gross ratio, number of occupants, the number of particular spaces (i.e. number of rooms in a hotel), general configuration (footprint and/or number of stories), location of project, and timeframe. If this initial comparison doesn’t illuminate a projects cost and/or schedule similarities or peculiarities, then one must delve deeper into the project scope to determine any or all differences. This means the stakeholders must understand the projects detailed scope parameters such as type of structure, assumed number of interior spaces, the level of finishes and specialties, the vertical transportation needs, the requirements of the mechanical and electrical systems, and site specific differences (roads, utilities, parking, etc.). Once this type of comparison is completed, a proposed facility should be fully benchmarked against its peers.

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