Sunday, January 25, 2015

Dependency Determination

Dependency characterized by the following attributes:
Mandatory or Discretionary
Internal or external

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Contingency Reserves:

Contingency Reserves are the estimated duration within the schedule baseline, which is allocated for identified risks that are accepted and for which contingent or mitigation responses are developed.
Contingency Reserves are associated with "known-unknowns".

Contingency reserve may be a percentage of the estimated activity duration, a fixed number of work periods, or may be developed by using quantitative analysis method such as Monte Carlo simulation.

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Management Reserves:

Management reserves are a specified amount of the project duration withheld for management control purposes and are reserved for unforeseen work that is within scope of the project.

Management reserve are intended to address the "unknown-unknowns" that can affect a project.

Management reserve is not included in the schedule baseline of the project, but it is overall part of the project duration requirements.

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The resource-constrained critical path is known as critical chain.

Critical chain method uses the concept of buffers and buffer management.

Buffer placed at the end of the critical chain is known as the project buffer and it protects the target finish date from slippage along the critical chain.

Additional buffers known as feeding buffers are placed at each point.

Feeding buffers protect the critical chain from slippage along the feeding chains.

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Resource leveling and Resource Smoothing

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Modeling techniques:

What-If Scenario Analysis
Simulation

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Schedule compression

Crashing - by adding resources
Fast tracking - activities or phases are performed in parallel.

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Schedule Baseline

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Performance reviews:

Trend analysis
Critical path method
Critical chain method
Earned value management:


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