The correct statement is that the critical path is the longest sequence of dependent tasks, and it determines the shortest possible project duration. Any delay to an activity on the critical path will delay the entire project's completion. The critical path is characterized by having zero total float. The other options are incorrect: the shortest path is not the critical path, flexibility (float) is minimal or non-existent on the critical path, and while critical path activities can be high-risk or expensive, the path itself is defined strictly by duration and dependencies.
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What is the Critical Path Method (CPM)?
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CAPM
Predictive, Plan-Based Methodologies
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