UT Knoxville BUAD 341 - Buffer Management (3 pages)

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Buffer Management



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Buffer Management

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Finishing up the notes under critical chain project management plus we went over the exam 4 topics.


Lecture number:
23
Pages:
3
Type:
Lecture Note
School:
University of Tennessee
Course:
Buad 341 - CBM II: Lean Operations
Edition:
1

Unformatted text preview:

BA 341 1st Edition Lecture 23 Outline of Last Lecture I Project crashing II Critical Chain Project Management III Step by step example Outline of Current Lecture IV Buffer Management V Buffer Consumption Chart VI Using a Fever Chart VII Exam 4 Topics Current Lecture Critical Chain Project Management continued Buffer Management example from lecture 22 Using Buffer Management o Percent buffer project consumption is 7 days 20 days 35 o How do you feel about project progress to date Should we be alarmed A Typical Buffer Consumption Chart These 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 On a typical buffer consumption chart there are 3 equal parts corresponding to each third of the buffer On the horizontal axes we have the project duration and on the vertical of the project buffer consumed Projects usually start in the Green zone and gradually move to the Red zone If a project is in the red zone towards the end of the project it is not alarming but if it reaches the read zone way before the end day the corrective measures should be taken Using a Fever Chart to Track Projects Fever Chart plots percentage of project buffer consumed over the percentage of project completed Fever charts are better in representing when it is ok to reach the red zone As you can see the red zone is wider at the beginning of the project Summary of the Critical Chain Approach 1 Use Aggressive but Possible Times ABPT for task durations 2 Identify the Critical Chain by taking into account resource dependencies 3 Use Buffer Management to track project progress 4 Avoid Multitasking when faced with a capacity constraint Exam 4 Topics covering chapter 3 only Projects o definition characteristics main objectives examples of projects Project Manager o Responsibilities major challenges skills of good PMs Project Scheduling o Inputs work breakdown structure precedence tables o Outputs Gantt charts



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