Correct Answer - Option 2 : 1 and 3 only
Statement I- True, II-False III-True
The characteristics of Critical Path Network are:
1. Activity Oriented network.
2. Based on deterministic approach.
3. Only one time estimate is made for each activity.
4. Each activity follows normal frequency distribution curve.
5. Used for repetitive type projects.
6. Time-Cost models are prepared to find out the minimum cost of project and corresponding time duration.
Statement IV-False
Float is the time by which starting or finishing of an activity can be delayed without affecting the schedule completion period of a project. Critical events are events having float is equal to zero i.e. their occurrence in delay can cause delay in completion of project.
If float < 0 i.e. negativefloat, such events called supercritical events and these represent that project is already behind the schedule.
If float > 0 i.e. positive float, such events called subcritical events and these represent that project is ahead of the schedule.