The ongoing pandemic has put a strain on construction project deadlines and budgets. The limited availability of building supplies, labor shortages, and increased consumer demand have contributed to a major spike in the cost of goods. With 60% of construction firms reporting future projects being canceled or delayed1, contractors and insurance carriers must work together to create a strategic path forward to complete projects on time and on budget.
When construction projects are very complex, with many overlapping and connecting tasks, the critical path method (CPM) can help effectively plan and manage projects. CPM is a step-by-step project management technique that tracks tasks most critical to project completion, using them as the thread responsible for getting the entire project to the finish line. CPM is most often used for new commercial or industrial construction projects or large renovations and rebuilds.
CPM scheduling allows for clear and transparent management of a project’s critical activities.
There are several steps you should DO to determine your project’s critical path:
There are several things that you DON’T want to do:
By associating cost and resource allocation with each subtask, the critical path method quickly tells you what’s causing the project to go over budget or fall behind schedule.
Contact RMC Group for help in developing your CPM schedule.
1 Pit & Quarry“AGC: 60 percent of construction projects delayed,” Sept. 3, 2020.