” Overdue and Over-budget is what characterises most projects. As a matter of fact whenever a project is delivered on time and within budget it is likely to make headlines.
Formal project management techniques in the form of Critical Path method (CPM) and Programme Evaluation and Review Technique (PERT) have been around for more than half a century. Yet despite the existence of these phenomenal techniques, the results have been far from satisfactory.
Dr Eliyahu Goldratt provided the breakthrough with his path breaking novel ‘Critical Chain’ in 1997 which introduced to the world a methodology for managing projects called ‘Critical Chain Project Management’ (CCPM). CCPM has two main differences compared to the traditional methods:
- It explicitly recognises the impacts of uncertainties, limited resources and multiple projects and provides concrete mechanisms to deal with their impact.
- It explicitly addresses the human behaviour aspect in managing projects.
The results from CCPM implementations in project execution have been nothing short of phenomenal. Hundreds of companies globally are using CCPM to slash execution lead times by over 40% and also do 40% more projects with the same amount of resources.
