Critical chain project management and its features
The critical chain project management (CCPM) helps to identify risks in project implementation. It is based on the principle of chains of tasks that affect the ability to meet commitments on time.
The key element of the method is to determine the interdependencies between tasks and to identify the optimal sequence of their performance. The most important task becomes the one with the highest risks.
The method is used for the following purposes:
- Determining constraints. The approach makes it possible to determine the resources needed to complete each task. The analysis can also be used to properly prioritise the project.
- Identify areas of highest risk. The technique helps to pinpoint, in advance, the areas of work that may cause problems during the execution of the project. This way, the team can focus on the most challenging phases and minimise potential risks.
- Improved time management. CCPM principles help to calculate the time required to complete each stage of work. This reduces the risk of delays and additional costs.
It is a popular tool in project management. With its help, a manager can clearly define realistic deadlines for the fulfilment of a particular task. In addition, the approach highlights the interrelationships between different project phases. Thanks to this, specialists create sequences of tasks taking into account the prioritisation system.
One of the key benefits of this method is the ability to minimise risks. The development team knows in advance what difficulties they may encounter. In addition, the approach allows setting up effective communication between project participants. This is particularly significant when specialists from different departments are involved.
Method components
The critical chain project management has a number of key components, including:
- Initial task. This is the starting point of the project. If there is a delay at this stage, there is an increased risk that the project will not be completed on time.
- Dependent tasks. These are project steps that are performed one after the other. They cannot be rearranged. In this case, tasks play a vital role in planning the completion dates.
- Resources. Each stage requires certain resources, both financial and human. An error in their calculation means a delay in the implementation of the project. There is also a risk of resource overruns.
- Dependencies. Identifying dependencies reduces risks and minimises the occurrence of unforeseen situations in the process of task implementation.
- Task completion time. It is necessary to determine the correct completion time for each task. This raises the efficiency of the project implementation.
The critical chain project management includes regular monitoring of progress at each stage of the project. It is important to analyse not only the deadlines, but also employee productivity and costs. This approach will allow a timely response to difficulties.
