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Summary MGT3035 W4.docx MGT3035 Week 4 Project MGT3035 South University The Project Management Body of Knowledge (PMBOK) describes the critical path as œthe sequence of scheduled activities that determine the duration of a project. The critical path is by f$7.49
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Summary MGT3035 W4.docx MGT3035 Week 4 Project MGT3035 South University The Project Management Body of Knowledge (PMBOK) describes the critical path as œthe sequence of scheduled activities that determine the duration of a project. The critical path is by f
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UAGC
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Ashford University
MGT3035 W MGT3035 Week 4 Project MGT3035 South University The Project Management Body of Knowledge (PMBOK) describes the critical path as œthe sequence of scheduled activities that determine the duration of a project. The critical path is by far the most intensive sequence of responsibiliti...
mgt3035 w4docx mgt3035 week 4 project mgt3035 south university the project management body of knowledge pmbok describes the critical path as œthe sequence of scheduled activities that determin
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MGT3035
Week 4 Project
MGT3035
South University
The Project Management Body of Knowledge (PMBOK) describes the critical path as “the
sequence of scheduled activities that determine the duration of a project.” The critical path is by
far the most intensive sequence of responsibilities within a project plan that must be completed
on time for the project to meet its projected deadline. There should not be any delay during any
of the tasks given in the critical path, if there is a delay this could cause the whole project to fall
behind. Many projects include only one critical path, but some unique projects utilize multiple
critical paths.
The critical path method is a project management technique that is used to find events on
the critical path. The critical path method is a unique approach to project scheduling where the
project is broken into several different work tasks, displays them in a flow chart, and then
determines how long the project is to continue based on estimations. This methodology
identifies tasks that are critical to complete to ensure the project is completed in a timely manner.
The network diagram’s critical path is B, E, G; the project will take 23 days to finish.
There are several techniques used to determine probabilities of project completion, one of
these is a simulation technique called Monte Carlo simulation. This simulation helps is used to
predict the probability of different outcomes when random variables are added, this helps
discover the probability of risk during a project. The Monte Carlo method applied to a single
variable ensures that the amount obtained is taken from the population described by the
variable’s population distribution.
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