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UT Knoxville BUAD 341 - Critical Chain Project Management
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BA341 22nd Edition Lecture 22 Outline of Last Lecture I. Continuing the problem using PERT II. Cost-Time Trade-offs and Project CrashingIII. Time-Cost Trade-offsIV. Reducing Project DurationV. Some Time-Cost ModelsVI. Critical Path ModelsVII. Crashing Outline of Current Lecture VIII. Project crashingIX. Critical Chain Project ManagementX. Step-by-step exampleCurrent LectureProject Crashing - Critical path for crashed schedules-- (Minimum) Cost of crashing project to minimum durationo Step 1 – replace all activity normal durations with their crashed durationso Step 2 – identify the critical pathThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.o Step 3 – Relax non-critical activities in decreasing order of their slopes (i.e., what is the point of fully crashing non-critical activities?)o Finally, the minimum cost is the sum of the: Cost of crashing the critical activities down to their minimum durations:- $40 (A) + $60 (B) + $35 (E) = $135 Cost of crashing activity D 1 day (from 4 to 3 days):- $30 $135 + $30 = $165Critical Chain Project Management- There are several human behavior laws that tend to jeopardize task and overall project durations: o Parkinson’s Law o 3-Minute Egg Rule o Student Syndromeo Multitasking- Addressing them is especially important when there are limited recourses available for a project.Let’s consider an example- Assume the following project, where the letters represent resources- Further, assume that activity durations have been determined in the traditional way- i.e., have been individually padded for safety-- In this example letters represent recourses. o There is one task that requires the resource V.o There is one task that requires the resource W.o There is one task that requires the resource Y.o There is one task that requires the resource Z.o And there are two tasks that require the resource X. The resource X can work only on 1 task at a time.- Step 1 - Use Aggressive but possible times (ABPT)o According to the CCPM the first step is to use aggressive but possible times (ABPT) for task durations.o Aggressive but possible times equal to half of traditionally estimated task durations. For example, the traditional time estimate for the task that requires the resource V was 12 days, ABPT estimate is 12/2= 6 days.- Step 2 - Identify the critical chain (The longest sequence of dependent events that prevents the project from completing sooner, based on ABPT durationso The correspondent of the “constraint” in a project environmento Task and resource dependencies are key in identifying the critical chainoo This diagram shows the rearrangement of the tasks. Now we do not have any resource conflict. We find the project duration by finding the longest path. It’s Y->X->X->Z. And it’s duration is 8+10+10+12 = 40 days.o Task and resource dependencies are key in identifying the critical chain. In this situation we call the longest path the critical chain.o (Note: if we had unlimited resources we would not to consider rearranging tasks and we would just use the critical path method).- Step 3 - Add the Project and Feeding Bufferso Project Buffer (added at the end of the project) protects the final project completion date from variations in the duration of critical chain activities. The size of the project buffer equals to the half of the safety removed from the tasks that make the critical chain.o Feeding Buffer (placed at the merging points between a non-critical chain and the critical chain) protects the critical chain from variations in the duration of non-critical activities. The size of the feeding buffer equals to the half of the safety removed from the tasks that make that specific non-critical chain. As we are using aggressive but possible times, we are not protected from variation in task duration. Instead of putting safety buffer at each task (using traditional time estimates) we will put safety buffer at the end of each path. At the end of the critical chain we’ll put a project buffer. It will protect the project duration from variations in the duration of critical activities. The size of the project buffer equals to the half of the safety we took away from the critical activities. We took away is 8+10+10+12 = 40 days, so we’ll set project buffer = 40/2 = 20 days. At the junction of each non-critical path with the critical chain we’ll put a feeding buffer. The feeding buffer protect the critical chain from variationsin non-critical activities. The size of the feeding buffer id determined in the same manner as the project buffer. We have only 1 non-critical path on this diagram. . We took away is 6+6 = 12 days from non-critical activities, so we’ll set feeding buffer = 12/2 = 6 days.- Step 4 - Use buffer management (buffer penetration) to monitor project progresso Assume that project is now at end of day 15, but task Y has just been finished o Has any buffer time been


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UT Knoxville BUAD 341 - Critical Chain Project Management

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