The CPM schedule is an important tool for evaluating integrated cost-schedule risk. This type of analysis is important for evaluating the critical review of resources and schedules.
It is important to understand how to analyze and develop the CPM chart. For this assignment, you will use Critical Path Analysis and PERT Charts. Review the information on this web page. You will use the data provided under “Drawing a Critical Path Analysis Chart.” Follow steps 1 and 2 for developing a CPM chart.
You will develop the CPM chart using SmartDraw. You can download this tool free for seven days. After you download the SmartDraw you will select the “Decision Template”. You can change the shapes and add as many elements as you want.
- Please turn in the diagram and your risk analysis paper describing how you evaluated each element and also how you would mitigate the risks. Discuss similarities and differences between the CPM and integrated cost, schedule risk analysis, and joint confidence level.
- The paper needs to be 5 pages and be in APA format with a screenshot taken from SmartDraw showing the CPM chart.