BA 341 1st Edition Lecture 23 Outline of Last Lecture I. Project crashingII. Critical Chain Project ManagementIII. Step-by-step exampleOutline of Current Lecture IV. Buffer ManagementV. Buffer Consumption ChartVI. Using a Fever ChartVII. Exam 4 TopicsCurrent LectureCritical Chain Project Management continuedBuffer Management (example from lecture 22)- Using Buffer Managemento 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 ChartThese 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 tothe 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 constraintExam 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 Schedulingo Inputs – work breakdown structure, precedence tableso Outputs – Gantt charts, network diagramso Critical Path Method (CPM) & PERT Draw a project network diagram for simple projects Identify activity slack and critical path(s) based on ES/EF, LS/LF times provided with the network diagram Identify critical path(s) by enumeration based on provided network diagram Identify impact of activity delays on project schedule Compute expected activity durations and variances Compute project completion probabilities (be able to read the normal table provided with the class notes)- Time-cost models in Project Managemento Compute activity slopeso Determine minimum cost schedule To reduce project duration by a certain number of periods To reduce the project to its minimum duration- Critical Chain Project Managemento Typical traditional assumptions, behavioral aspects o Aggressive But Possible Times (ABPT)o Identify Critical Chaino The use of Project and Feeding Bufferso Fever
View Full Document
Unlocking...