Project Management Approaches

1. Traditional Project Management (TPM) Approach.

2. Critical Chain Project Management (CCPM) Approach

CHAPTER 8-1

Q: Define Critical Chain Project Management (CCPM). Discuss statistical Validation of the Critical Chain Approach?

Critical Chain Project MangementThe critical Chain is defined as the longest duration path through the project considering the task dependencies and resource constraints.The planning, scheduling and maintenance of critical chain throughout the course of the project. Moreover by giving priority to the critical chain, the Project Manager identifies scheduled Tasks around the most constrained resources and completes the Project in less time as compared to TPM Approach.

CHAPTER -12-2

Justification of CCPM Approach

1. Common Cause Variations.These occur naturally and are always Present. We live with that and Plan accordingly.2. SPECIAL Cause Variations.These are the variations which can be managed by the Project Manager. For this we prepare Risk Management Plan.

CHAPTER8-3

The CCPM approach use mathematical statistics to handle common cause variations and in this way, it completes the same Project in less time as compared to TPM Approach.

CHAPTER 10-4

Statistical Validation of CCPM Approach

Every task has a contingency. The contingency is the difference between two probable estimate estimatestimate. esestimates.

In the above Diagram, there are four tasks, and they have Four contingencies.

In the above Diagram, (By CCPM approach) all contingencies have been aggregated. Therefore, it is easy to manage it

CHAPTER 10-5

A B C D

Contingency

A B C D

CONCLUSION1. An empirical study was carried out

and it has been proved that by Statistical analysis, that CCPM Approach completes a Project in less time as compared to TPM Approach. Therefore, we can say that CCPM Approach is statistically Valid.

CHAPTER 10-6

Q: Assume that your organization is interested in using CCPM along with TPM; what criteria would you use to decide, which approach makes more sense for a given Project?

Ans: 1. Definition of TPM:Project Management is a method and set of techniques based on the accepted principles of management used for planning estimating and controlling work activities to reach as desired end result on time, with in budget and according to specifications.2. Definition of CCPM: (Already given in previous slide)

CHAPTER 10-8

Comparison and Contrast of Two approaches;TPM and CCPM.

1. Both Approaches are identical to the point, where Project Network is drawn and critical path is identified.

2. Thereafter CCPM Manager develops critical chain Plan.

3. CCPM is more scientific and make use of Mathematical statistics to reduce special cause variations, which reduces the time duration of Project.

CHAPTER 10-9

CONCLUSION We have discussed both approaches, that is TPM and CCPM. In order to decide which approach makes more sense for a given project, it depends upon the nature of the Project. In case the time duration of the Project is more essential, we would like to have CCPM Approach otherwise we can adopt TPM approach

CHAPTER 10-10