A critical path analysis prevents scheduling conflicts in projects with numerous activities that have complex interactions.
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Developed by DuPont in the 1950s, the Critical Path Method (CPM) has been around for decades. CPM is a step-by-step planning technique that identifies critical and non-critical tasks.
How Do You Implement an Analysis?
A plan without an action is just words on paper. It is important to discuss the development of the critical path analysis with key management members or the team who will execute the actions in order to avoid confusion.
How to Build the Perfect Team
In some cases, reviewing your plan with an advisory board can help resolve any potential problems before they happen.
Most importantly, a critical path analysis is an instrumental tool that can be presented to investors during your due diligence. A prepared entrepreneur demonstrates a comprehensive understanding of their product and plan. Increasing investor confidence will thereby increase the startup’s probability of obtaining funding.
Infographic edited by Rebecca Cox