What is the Critical Chain?
The Critical Chain is the longest duration path through a project plan, considering
both the task logic (inputs and outputs of tasks) and resource constraints.
The Critical Chain usually differs from the Critical Path, as it can (and usually does) jump the logic
paths. If there are no resource constraints, the Critical Chain and
Critical Path comprise the same path of tasks.
"Any project worth doing is worth doing fast"
is a cardinal assumption underlying the reason for Critical Chain. Since the investment in a project
is fixed, and the
return on that investment usually does not start until a project is complete, there is always substantial
benefit to completing project faster. If it is a new product
introduction, the advantage can be very large.
The Critical Chain uses
mean task duration estimates
. Although often not stated, the Critical Path is generally thought to be comprised of high-probability
or low-risk task duration estimates that the suppliers of the task output can commit to.
» See also: What is TOC?
|