Critical Path Vs Critical Chain

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hi2shrads
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Critical Path Vs Critical Chain

Postby hi2shrads Thu Jan 02, 2014 3:04 am

Hi Namita,
I am not able to attend the webinar unfortunately. Would appreciate if you can touch upon critical chain method and critical path method if time persists .
I am also not sure which method you are going to show start with 0 or start with 1. Coz though PMBOK suggest 1 , I prefer 0 it simplifies the calculations for sure.
So pls highlight benefit of using start with 1 or 0 ..Rita shows Start with 0 ..i guess...
Thanks
Shraddha
namita
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Re: Critical Path Vs Critical Chain

Postby namita Thu Jan 02, 2014 10:35 am

Hi,

Critical chain method is not touched upon in this webinar (we are concentrated on numerical portion & critical chain numerical are very rare) but we can discuss the same in forum. First and foremost thing is, critical chain method is not separate to critical path method. Once we have calculated critical path, we use critical chain method to put resource constraint and add buffers on critical milestones to calculate critical chain in network diagram. These buffers are managed as reserves so that all the critical milestones are met and eventually project end date is achieved by reducing probability of risks. Please feel free to ask further questions. Critical chain method is asked theoretically only in exam. You can watch recorded video of webinar on youtube channel of IZENBRIDGE. Saket shares the link after the webinar
.
I personally prefer 1 method and use that. This is because 0 day is not realist. When we think from real world scenario we start the projects on Day 1 and to visualize it correctly and use this technique while managing projects, you will find it easy to relate
hi2shrads
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Re: Critical Path Vs Critical Chain

Postby hi2shrads Fri Jan 03, 2014 4:56 am

Thanks Namita. the bufferes which we add could be of two type 1) Feeding buffer (???) Are they added on the activities which are converging to activities on Critical Path method - this one not clear 2) Project buffer (protects the target finish date) -
similar to these buffers - we also have buffers/reserves added in cost estimates - Contingency Reserves (part of cost baseline )
management Reserve - are not part of Cost baseline but part of overall project budget SO
are both of buffers (Feeding and Project) part of schedule baseline? are both of them also called Contingency Reserves ?
namita
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Re: Critical Path Vs Critical Chain

Postby namita Fri Jan 03, 2014 5:36 am

Have a look on below:

- Critical chain method have 2 types of dependencies, Activity and Resource. where as normal N/W diagram for critical path only have activity dependencies.
- Feeding buffer is buffer added to converging activities which converse to critical chain not critical path. Project buffer is added on the Critical Chain itself.
- These buffers are planned buffers by making activities start as late as possible. There are not taken from cost baseline additionally. Critical Chain is a scheduling techniques which creates these buffers from within to manage risks on critical milestones

hope this helps
hi2shrads
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Re: Critical Path Vs Critical Chain

Postby hi2shrads Tue Jan 07, 2014 3:16 am

superb ..understood ..thanks

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