Critical Chain

Book: Critical Chain (Eliyahu M. Goldratt)

Gets to the root of how project schedules should be created and managed;  80% confidence estimates are generally 3x longer than 50% estimates. “Student Syndrome” guarantees that projects only lengthen, never shorten. When ‘n’ tasks are done by an individual, the buffer is added to the end. When the same ‘n’ tasks are handled by a team, then each person cumulatively adds their own buffer. Manage tasks using the 50% confidence estimates. Take the excess buffer and put at the end of the project critical path so that the end time is the same. Premise is that you will only use up a fraction of that buffer following the ‘Critical Chain’ concepts.

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