EconPapers    
Economics at your fingertips  
 

Generalization of the critical chain method supporting the management of projects with a high degree of uncertainty and imperfect information

Dorota Kuchta

Operations Research and Decisions, 2010, vol. 20, issue 2, 77-90

Abstract: In the critical chain method the fundamental notion is the project buffer, and its length is based on task estimation risk. This estimation is almost never unequivocal. If it is not correct, the whole method may turn out to be ineffective. Different experts may have different opinions about this risk. The critical chain method allows to take into account the opinion of only one expert, which may seriously falsify the image of the project situation. This paper proposes a generalization of the critical chain method allowing the use of the opinions of several experts – both while planning a project and while controlling it. Thanks to such an approach, in each phase of project planning and control we are aware of the opinions of various experts as to the correctness of the deadline which was agreed upon with the customer, as to the chances of meeting this deadline and as to the necessity of strengthening project control or introducing changes into the project.

Keywords: time management; risk management; project; critical chain (search for similar items in EconPapers)
Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://ord.pwr.edu.pl/assets/papers_archive/163%20-%20published.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wut:journl:v:2:y:2010:p:77-90

Access Statistics for this article

More articles in Operations Research and Decisions from Wroclaw University of Science and Technology, Faculty of Management Contact information at EDIRC.
Bibliographic data for series maintained by Adam Kasperski ().

 
Page updated 2025-03-20
Handle: RePEc:wut:journl:v:2:y:2010:p:77-90