A Critique of the Critical Chain Approach to Project Management
ASSIGNMENT 1: “A CRITIQUE OF THE CRITICAL CHAIN APPROACH TO PROJECT MANAGEMENT”
3,000 words excluding reference list and summary
for Dr. Tom Mullen
Anthony C Mould October 2003
Reprinted with the kind permission of Anthony C Moulds. This essay should be viewed as an example of a well written, structured, referenced and argued assignment. It has been issued to MBA students on commencement of their studies, prior to submission of their first assignment.
This report reviews the Critical Chain approach to project management as proposed by Dr Eliyahu Goldratt (1997). The approach is based on the Theory of Constraints (TOC).
The report finds the following: …show more content…
The “worst case scenario” mechanism relates to the fact that people make considerable provision for contingencies when estimating project duration. In general, there is little incentive for finishing an activity ahead of schedule yet often hefty penalties for finishing behind schedule. Rational individuals therefore pessimistically skew their estimations.
Furthermore, time estimations are often inflated, as managers at each level of the organisation add their own safety time on top of those of the initial estimators in an attempt to ensure personal deadlines are achieved. The greater number of management levels the greater the accumulated safety time.
The third mechanism whereby project time estimations may be inflated