Critical Chain Project Management Based Heuristics Algorithm Essay

Critical Chain Project Management Based Heuristics Algorithm - Essay Example Dr. Goldratt utilized TOC in project management in 1997. The project schedule was organized and managed by few resources and tackled the unattractive behavior. The project’s execution was supervised by the centralized management of the project buffer extent. Critical chain technology considers both the issues of cognitive and psychological resources-restrained, and the effect in the duties of the next and the former firm relation restriction (Hong and Ji-hai 331). The steps include work breakdown structure establishment; activity definition; network chart drawing; constraints-critical chain identification; the employment of restraint, which include the project time estimate activities, feeding buffer and project buffer, and resource buffer; minor non-critical path chain identification; plot the project schedule plan of critical chain (Hong and Ji-hai 331). Currently, the buffer size is regularly calculated using three forms of method. One, Goldratt method where input buffer and project buffer match half of the magnitude of the critical chain to attain 50% probability the task duration and approximated. Two, Cut-and-paste method where buffer size matches half of the difference between 90% of the probability of completion of the task duration approximated and 50% of the probability of completion task duration approximated. Third is the standard deviation method which is formed on the independent assumption of the task of the project. Nonetheless, these methods did not take into consideration the different task chain distribution duration, different uncertainty levels in different positions, and different preference risks of stakeholders (Hong and Ji-hai 331). The buffer management mechanism is perceived to be the critical chain’s tool for controlling projects. Project buffer attempts to lessen the project buffer duration and incorporates it into the critical chain. Feeding buffer asserts that the inserting task be finished in time. Finally,