The critical path method (CPM) is a project modeling and scheduling technique for large or complex projects. It was developed in the 1950s by analysts at DuPont and Remington Rand, influenced by work on the Manhattan Project (WW II research effort resulting in the introduction of nuclear weapons). A core benefit of CPM is that …
What are the advantages of the Critical Path method? Read More »
Industry 4.0 concepts and technologies can be applied across all types of industrial companies, including discrete and process manufacturing, as well as oil and gas, mining, and other industrial segments. Historical Context Let’s start with a bit of history to put it in perspective. First industrial revolution The first industrial revolution began in the late …
Communication between buyers and suppliers is critical to ensuring high-functioning and transparent relationships. A Supplier Performance Scorecard is a convenient tool allowing suppliers and buyers to regularly monitor their relationships through metrics. By establishing a scorecard, the supplier and the customer have a consistent means to measure and evaluate the supplier’s performance. This facilitates documenting …
Whether you’re just getting started in the field of project management or need a refresher course, here’s a list of common project management terms, with handy links to related articles both in this blog and on other sites. Milestone Milestones are significant points in time during a project. They are often defined by specific achievements …
