Critical Path Method. A time-sequenced Critical Path Method (CPM) generated Xxxxx chart that contains the following: Scheduled key project events, milestones, all worksheet cost elements and items as listed above. Critical Path and Controlling Work Items for the overall project and each Obsolete Vessel shall be clearly indicated with interdependent relationships to other critical path tasks clearly identified. Scheduled start and completion date of the production work for each activity. The original schedule baseline shall be retained and progress shall be shown on the Schedule as completed activities and shall be comparable to the baseline schedule.
Critical Path Method. The terms “Critical Path Method” or “CPM” mean a process for building a construction project schedule and analyzing it to determine the most critical tasks that most affect the scheduled completion date. These critical tasks cannot be delayed without changing the overall schedule.
Critical Path Method. Prior to commencement of the Construction Phase Services and concomitantly with submission of the GMP Proposal, Construction Manager will submit an up-to-date Critical Path Method (“CPM”) Schedule for the performance of Construction Phase Services as specified. The CPM Schedule will include reasonable periods of time for Owner’s and A/E’s review and approval of shop drawings and submissions and for the approval of other authorities having jurisdiction over the Project.
Critical Path Method. Use the Critical Path Method (CPM) of network calculation to generate the Project Schedule. Prepare the Project Schedule using the Precedence Diagram Method (PDM).
Critical Path Method. 5.1 The time and progress chart to be prepared as per condition 11 of General Conditions of Contracts (IAFW-2249) shall consist of detailed net work analysis and a time schedule. The critical path net work will be drawn jointly by the GE and the contractor soon after acceptance of tender. The time scheduling of the activities will be done by the contractor so as to finish the work within the stipulated time. On completion of the time schedule a firm calendar date Schedule will be prepared and submitted by the contractor to the GE who will approve it after due scrutiny. The schedule will be submitted in four copies within two weeks from the date of handing over the site.
Critical Path Method. The Critical Path Method (CPM) is a way of depicting the sequence of activities in a project, including interdependencies, and containing all activities needed for successful completion of the Work. Delay in the completion of activities on the critical path will extend the completion date. Direct Labor Costs. Direct Labor Costs are the total number of allowable hours worked on the Project by each individual multiplied by the Labor Rate, identified in EXHIBIT “B” – COMPENSATION SCHEDULE. Fee. Fee is the amount, independent of actual costs, that CONSULTANT is allowed for assuming risk and to stimulate efficient contract performance. Fee includes compensation to CONSULTANT for both profit and unallowable costs. Efficient cost control will allow CONSULTANT to earn a higher profit margin without adjustment of the fee amount. Conversely, inefficient cost control will result in a lower profit margin. Float. Float is the number of days by which an activity not on the critical path in a CPM network may be delayed before it extends the completion date. Labor Rates. Labor rates are the actual cost of salary paid to employees of CONSULTANT and identified in EXHIBIT “B” – COMPENSATION SCHEDULE. Not to Exceed Cost. The Not to Exceed Cost for a task is the sum of the agreed Direct Labor costs, indirect costs, and other reimbursable costs of the task defined in the original Project Baseline. Actual Direct Labor costs may be invoiced based on hours worked, per discipline, per task, or a percent complete by task for the period. CONSULTANT assumes all risk for providing the requested task/deliverables at or below the original estimated cost, unless an equitable adjustment to the scope and/or fee are made by amendment to the Contract. Any costs incurred by CONSULTANT beyond the not-to-exceed amount identified which are not attributable to any change in the project baseline are unallowable. Unallowable costs are compensated through CONSULTANT’s fixed Fee. Indirect Costs. Indirect costs are at the overhead rate identified in EXHIBIT “B” – COMPENSATION SCHEDULE. Project Baseline. The agreed Contract scope of services, total Not-to-Exceed Cost plus Fixed-Fee (CPFF), the allocation thereof among Contract tasks, and the accompanying schedule and expectations/assumptions upon which the scope of services and schedule are based, collectively constitute the Project Baseline.
