CPM is the

Explanation:

Critical Path Method (CPM)

• The Critical Path Method (CPM) is a project management technique that focuses on identifying and scheduling all the critical activities required to complete a project within a specified time frame. It is widely used in industries for planning, scheduling, and controlling complex projects. CPM revolves around determining the sequence of crucial activities (the critical path) that directly impact the project’s completion time.

Working Principle: CPM is based on the principle of activity-oriented planning. It involves the following key steps:

1. Breaking down the project into a set of activities or tasks.
2. Determining the sequence and interdependencies of these activities.
3. Estimating the duration for each activity.
4. Identifying the critical path, which is the longest path through the network of activities with no slack or float time.
5. Monitoring and controlling the critical activities to ensure timely project completion.

The critical path is essential because any delay in the activities on this path will directly delay the overall project. CPM helps project managers focus on these critical activities to ensure that the project stays on schedule.