Theory of Constraints And Project Management free essay sample

The goal of every project is to make profit. The sooner the project is completed, at least by the deadline, the better it is for the project to accrue its potential benefits -and vice versa. Constraints, negatively affect project goals. In the triple-constraints (time, cost, scope), time remained the most impacting constraint to projects. The critical chain resolved this issue by removing protection time from tasks, aggregating them into feeding and project buffers, and placing them in strategic locations within the project etwork where they will serve to protect the project as a whole. This way, the fixed elements of each task is the aggressive but possible estimate, whilst the variable components are called safety. The safety is managed and adjusted time after time to the needs of the schedule. However, time is not the only constraint affecting projects, and the technique of Theory of Constraint (TOC) deals with these constraints to optimize project performance. We will write a custom essay sample on Theory of Constraints And Project Management or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page While applying TOC the project manager first and foremost, identifies the most important factor that constraints the project in that stage of development. This is done by continuous assessment of the project and process management to recognize the most pressing constraint. For in any given project scenario, there are constraint of resource, quality etc that present challenges to projects success. To avoid applying the right solution to wrong problem however, the project manager above all pinpoints, through the technique of TOC, the number one constraint that has the potential to derail the project. Then, supposing after the initial assessment the issue turns out to be one of a resource constraint the project manager takes advantages of the drawback. For instance, if the resource is equipment that does not produce to a required capacity at a given time, it will be scheduled to work around the clock, overtime, nights and weekends. Then, there will be the use of resource buffers -where resources are put on the alert well before they are scheduled to work on the critical path. In this case, the manager makes sure the constraint has sufficiently been exploited. In order to further streamline the process, the project manager subordinates all other procedures to the processing capability of the resource constraint. This way, the critical chains of tasks that are constraining he project are scheduled in such a way as to benefit from the processing capability of the resource constraint without disrupting the process. Every other measure in this vein is deemed secondary to the process. The project manager/organization manages the project in accordance with how the constraint performs in the project. In other words, the buffers (feeding, project and resource) are managed in ways that systematically conform to the capacity of the (resource) constraint. In essence, the constraint becomes elevated to a point where it becomes highly efficient to the successful completion of the project. After the above