Critical Chain. Team 7 David D. Cho Minyoung Kim Bin (Raymond) Xiao Hua Zhang. Chapter 1. The Company: Genemodem Impressive Track Record: Profits growth in 6 consecutive years CEO: Daniel Pullman (fully supported product development project)
David D. Cho
Bin (Raymond) Xiao
1. Short product life-span
(like a triangle, only six
months, continue to
2. Long product development time (roughly twenty four months)
Jim Wilson (Full Professor)
- Mr. Rick Silver is newly assigned to teach a
course in the Executive MBA.
- He is recommended by Jim Wilson, due to his
unique style of ‘teaching through open discussion’.
- Jim Wilson suggests Rick Silver to teach ‘Project
Management’ course and also he needs Rick Silver
in finishing some interesting research.
- Ms. BJ initiated conversation with other presidents
about recent decrease in the number of MBA applicants.
- Presidents are sharing about their ideas of that
reasons for the decrease could be both ‘over capacity of
business schools’ and ‘less demand of MBA degree’.
- They also talks about that Ivy leagues are not
experiencing any decrease due to their reputation
and strong financial ability to attract academic calibers.
“ A set of activities aimed to achieve a specific objective and have a clear start, middle and end”.
Professor Silver’s definition:
A complex initiative that needs pictures, diagrams, time charts, or showing sequential or parallel steps in order to manage it.
Regardless of industry or project type, there are three common problems to all projects:
B.J Von Braun -
President of University
Saturating demand for new MBAs
Large fixed overhead for business program that might potentially decline
Christopher Page –
Dean of Business School
Demand will not taper off
Need investments to maintain talent in the business schools
Talent will bring increase reputation and increase demand
BJ VonBraun already has the results – she gets Page to agree to the decision-making conditions, then shares results with him.
Critical Chain Chapter 7-9
IOM580 Project Management Team 6
Leon Tseng, Jasmine Yeh, Troy Yu, Hiroshi Harima
We shouldn’t change with such small fluctuation
Trim the budget according to the forecast!!
Business schools fail to deliver the markets!!
Management is art. It cannot be taught as a science
The budget overruns are not the main reasons for the extended payback period
It is caused by the delays in completing projects
Critical path is…
Make an early start and keep the slack!!
Should postpone the investments until really necessary
It’s an optimization problem!!
The issue must be addressed from management’s point of view, too!!
if starting too many things managers would be bound to lose focus
Using late starts, we lose slacks and everything becomes important
The control mechanism measures the progress of the project. The problem is that by the time the progress report indicates something is wrong, it’s usually too late.
Chapters 10-12 OverviewTeam 8Jake Detels, Tom Martin, Christopher Maynard, John Portwood
Critical Chain – Ch.13-15Key Takeaways
Chapters 16 thru 18
Katelyn Fang ∙ Sherry Liu ∙ Kevin Nagatori ∙ Adam Terry
Dr. Ardavan Asef-Vazir
Bottleneck: a resource with capacity that is not sufficient to produce the quantities that the market demands.
Critical Path: the constraint of the project.
Feeding Buffer: a buffer used by the non-critical path so that it does not affect the critical path.
Before / Most Common
Project Plan with buffer at each step
After / Best Way
Project Plan with buffer at Critical Path and Feeder Buffers for Non-Critical Path
The Critical Chain
Group 2 Chapters 19-21