In new product development, the critical path is the shortest sequence of activities required to complete the project. The activities on the critical path cannot be started until all preceding activities have been completed. In addition, any delay in completing an action on the critical path will cause a delay in the overall project completion. As a result, it is essential to identify and monitor the critical path during new product development to ensure timely completion.
Critical Path Scheduling is a project technique that puts all crucial steps of a given new product project into a sequential network based on task interdependencies.