CPM and CCPM a Compare and Contrast - Pinnacle Strategies

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CRITICAL CHAIN AND CRITICAL PATH, CAN THEY COEXIST? TABLE OF CONTENTS EXECUTIVE SUMMARY DEFINITIONS WHY DO PROJECTS FAIL TO DELIVER? FAILURES IN PLANNING FAILURES IN EXECUTION CHALLENGES AND OBSTACLES IN EXECUTION THE IMPORTANCE AND ROLE OF PROJECT PLANNING IDENTIFICATION OF CRITICAL WORK IDENTIFICATION OF RESOURCE REQUIREMENTS IDENTIFICATION OF SHORTEST POSSIBLE TIME TO COMPLETE PROJECT IDENTIFICATION OF RESOURCE CONTENTION SYNCHRONIZATION OF WORK IDENTIFYING SCHEDULE RISK ELIMINATE MULTITASKING PROVIDE CLEAR TASK PRIORITIES MAXIMIZE SCARCE RESOURCES PROJECT EXECUTION METHODOLOGY SCHEDULE RISK IS KNOWN CURRENT STATUS VS. LONGEST CHAIN OF DEPENDENT EVENTS PROJECT TASK PRIORITIES BASED ON SCHEDULE RISK ABILITY TO MAKE TRADEOFFS ON EXPENSE VS. SCHEDULE ABILITY TO EXPLOIT SCARCE RESOURCES DISCOURAGES MULTITASKING CLEARLY IDENTIFIES IMPACT OF VARIATION ON SCHEDULE RISK COMPARISON OF CPM TO CPPM CRITICAL PATH PLANNING & EXECUTION CRITICAL CHAIN PROJECT PLANNING & EXECUTION MEASURING UP USING DATES AND CONTRACTUAL MILESTONES COMBINING THE TWO APPROACHES CONCLUSIONS ADVANTAGES OF EACH DISADVANTAGES OF EACH FINAL THOUGHTS 1 3 3 3 4 5 5 5 5 5 5 6 6 6 6 6 6 7 7 7 7 7 7 8 8 8 9 12 13 14 14 15 15 15 www.pinnacle-‐strategies.com 2
CRITICAL CHAIN AND CRITICAL PATH, CAN THEY COEXIST? DEFINITIONS CPM is a scheduling method to identify the shortest time a project could be accomplished assuming resources are infinite 1 . The critical path method (CPM) is a project modeling technique developed in the late 1950s by Morgan R. Walker of DuPont and James E. Kelley, Jr. of Remington Rand. In project management, a critical path is the sequence of project network activities that add up to the longest overall duration. CCPM is a method of planning and managing projects that put the main emphasis on the resources required to execute project tasks. It is process; a collection of methods including: A Project Scheduling method with the following characteristics: • Identification of the critical path considering resource availability • Backward planning (from due date) • Aggressive task estimates • Explicit definition of schedule risk using buffers A Project Execution method with the following characteristic: • Preemptive management using buffer status to prioritize work (schedule risk status) WHY DO PROJECTS FAIL TO DELIVER? We cannot properly evaluate the performance of the two methods if we don’t first make a reasoned evaluation as to why we would bother looking at a different way of managing projects. In short, conventional project management does not work 2 . More education in project management principles is not a predictor of good project performance, nor is the number of project managers, or the presence – or absence – of conventional software programs. This is true in all industries, across company sizes, and around the world. Few projects realize their objectives in cost, performance, and scope. Let’s begin by understanding why projects fail to deliver. FAILURES IN PLANNING Work is not properly identified (too much detail or not enough). This is a major conflict in project environments. When not enough detail is planned: • Key tasks can get missed • Integration points are not properly linked and work is not available to meet up with other completed tasks • Resource loads are underestimated As a result, projects end up late or require herculean efforts to finish because the work was significantly understated. 1 Although many software packages allow the critical path to be resource loaded, the output is no longer the critical path; it is 2 The Standish Report has cited that over 90% of IT projects are unsuccessful. One does not have to look far to verify their findings in other environments as well. www.pinnacle-‐strategies.com 3
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CPM and CCPM a Compare and Contrast - Pinnacle Strategies

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