Critical path analysis uses network diagrams to identify:
The minimum time needed to complete a project.
Activities on the 'critical path' which cannot be delayed if the project is to finish on time.
Non critical activities.
How it works, advantages and disadvantages - details here.
Total Float time:
The amount of time by which a task can be delayed without causing the project to be delayed.
It can be calculated as:
LFT of activity minus EST of activity minus duration of activity.
