What is a milestone, a critical milestone, a critical path, and contingency planning? Use real-world examples.
Milestone
Milestone is a crucial point in the progress and development. It is
defined as an important point or stage in development of
something.
EXAMPLE-
Milestone in my life was when i graduated from my high school.
Critical Milestone
Critical Milestone is described as the milestone for which any
delay on the completion of certain thing would have an adverse
affect.
EXAMPLE-
The milestone was to complete the sales target by december end and
their are chances of loss of job.
Critical path
Critical path is described as sequence of stages which defines the
mimimum time which will be taken for the operation.
It helps to determine shortest time needed for completion of
project.
EXAMPLE- When you as a manager is managing a lot of tasks for a
project than the critical path is used to keep project on track and
to determine the shortest time needed for completion of the
project.
Contingency planning
Contingency plan is the plan that the organization will use when an
unexpected event occurs in the future. It is used for the risk
management if the expected result fails.
EXAMPLE- When a lot of workers falls sick for a particular shift
then the contingency plan would be to call employees from the
unscheduled shift.
What is a milestone, a critical milestone, a critical path, and contingency planning? Use real-world examples.
Identifying flaws in contingency plan Objectives: Research real world incidents, identify shortcoming (IR, BP or CP) and recommend possible solutions. Course Learning Outcomes: CL05, CL01: Student will be able to understand, implement and bring recommendations to contingency plan Tools or Equipment Needed: PC Internet explorer or chrome Internet Theoretical Background: A contingency plan is a course of action designed to help an organization respond effectively to a significant future event or situation that may or may not happen. A contingency...
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