What does a critical path method chart define?

The critical path method (CPM) chart is integral to project management, as it specifically outlines the longest sequence of tasks that must be completed in order to finish a project on time. This sequence dictates the minimum project duration and helps identify which tasks are critical for the timely completion of the project.

By focusing on the longest path through the project, CPM allows project managers to prioritize tasks that have the least amount of slack or float—meaning delays in these tasks will directly affect the project's completion date. Understanding this essential aspect of project scheduling enables better decision-making when allocating resources and managing timelines, ultimately leading to improved project efficiency.

While the other options touch on aspects relevant to project management—like timeframes, resources, and financial implications—none directly capture the primary function of a CPM chart as effectively as identifying the longest sequence of tasks necessary for project completion.