Critical Path Method (CPM)

1) Technique used to predict project duration by analyzing which sequence of activities has least amount of scheduling flexibility. Early dates are figured by a forward pass using a specific start date and late dates are figured by using a backward pass starting from a completion date.

2) Network scheduling using activity durations and logic ties between activities to model the plan to execute the work. CPM scheduling is the method of choice for managing projects of long duration, complex technical integration, or the need to coordinate fast or early completion of the work.

Source: AACE International Recommended Practice No. 10S-90 - Cost Engineering Terminology