The Critical Path Method (CPM) is a technique for scheduling a set of project activities. It identifies the longest continuous chain of activities from start to finish required to complete the project on time. This longest chain is called the critical path. CPM calculates the earliest and latest times each activity can start and finish without making the project longer. Activities on the critical path have no scheduling flexibility, while other activities have "float" or slack time that can be used for scheduling flexibility. CPM is useful for determining the minimum project duration and identifying which activities must be carefully managed and monitored to avoid project delays.