Critical Chain Project Management Based Heuristics Algorithm - Essay Example

Critical Chain Project Management Based Heuristics Algorithm This paper is a summary of the article Critical Chain Project Management Based Heuristic Algorithm for Multiple Resources-Constrained Project by Liu Jian-bing Ren Hong and Liu jian-bing Xie Ji-hai. According to the article, critical chain is a new form of technique of project management proposed in 1997 by Dr. El Goldratt (Hong and Ji-hai 330). The paper is divided into six parts which contain different sub-sections that explain the Critical Chain Project Management Based Heuristic Algorithm for Multiple Resources-Constrained Project, a conclusion, and a brief discussion.

The Critical Chain TechnologyDr. 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 of Critical Chain TechnologyThe 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). Buffer CalculationCurrently, 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). Construction the Buffer Management MechanismThe 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, buffer management is seen as an essential method for controlling the project team (Hong and Ji-hai 332).The Critical Chain Management of Multiple Resources Constrained Project The Problem Description of Multiple Resources Constrained Project Resource constrained project scheduling problem is an extension of job schedule problem. Multiple Resources Constrained Project Scheduling Problem should tackle the problem of constrain of resources in project implementation.Critical Chain ManagementIdentify Critical Chain The critical chains substitutes the critical path based on PERT/CPM network outline.

Buffer SetThe critical chain management method incorporates the project implementation process’ conduction mechanism, which tackles the project’s uncertainties. The multi-objective optimization may be realized through a project plan (Hong and Ji-hai 334).ConclusionThe conclusion highlights how heuristic algorithm based on PERT/CPM technology and the constraint theory optimizes the critical chain management technology (Hong and Ji-hai 335). DiscussionThe critical chain management technology on the basis of constraint is a new form of method and technique of project management, but it has been successful and experiences problems of how the buffer can be extra flexible, research of Algorithm of the Multiple Resources-Constrained Project Scheduling optimized, and research of Algorithm of multi-objective optimization of the multiple Resources-Constrained (Hong and Ji-hai 335).

Work CitedHong, L. J. and Ji-hai, L. J. “Critical Chain Project Management Based Heuristic Algorithm for Multiple Resources-Constrained Project.” International Seminar on Business and Information Management (2008): 330-335. Print.