ABSTRACT
Implementation of critical chain management (CCM) looks at projects in a new light, changing the way projects are estimated, scheduled, executed, and controlled. In an ever-intensifying global competitive market, the management of projects, particularly product development efforts, is increasingly one of the factors that can produce a sustained competitive advantage. Firms that can bring products to market faster than their competitors can extract higher initial market share and margins. The underlying theme of this model is to complete prioritized projects faster and to make more efficient use of critical resources. Published experience shows that this approach requires PMs to abandon traditional estimating and project control practices. Implementation of CCM requires a significant cultural change throughout the organization, beginning with a radical shift of focus from near-term task completion dates to long-term delivery dates. Industry practitioners have labeled the project management model based on TOC concepts as CCM. Patrick, Leach, Mannion, Ehrke, and others have each published particularly notable work in this area and their collective contributions have been used extensively in this chapter. These individuals translated a theoretical approach into workable techniques that can be successfully applied in the project structure. Other translations of this concept have been implemented in operational environments such as manufacturing.
