Question

Discuss the differences between critical path, critical chain, agile, and traditional project management methodologies.

Note which methodology you prefer and why.

Answer 1

Critical chain is the latest method which has gained major importance over a short period of time. The main reason for its success is that critical chain is able to overcome the challenges in traditional method that employs critical path. For many years, critical path was the working the principle for managing, planning applications (projects) in the area of management thinking, leading it to deploy in companies for project management. Critical Chain technique reveals the important assets which are required for deploying project activities duties which simplify non-important as well as important tasks such as planning strategic distance from process limited access and period problems. This technique is well suited for applications which consists of tasks that are integrated. The critical chain assists in control processes as well as planning based on theory of constraints which reduces waste including six sigma reduce variations.   

Critical path methodology includes (i). identifying every activity which employs work breakdown structure to separate every activity that is retains as well as manage high-level activities. (ii) Establish Dependencies (iii) Draw the network Diagram which employs Critical Path Analysis Chart (iv) determine Activity Completion Time (v). determine the critical path The advantage of critical path includes proper visual representation of the project activities and provides effective time management for completion of overall projects with maintaining tracking of important tasks.

In-order to obtain the critical path, these steps should be followed:

1. Create Schedule Network Diagram

2. Obtain activities

3. Obtain all Possible Paths

4. Determine the each path duration

Traditional Project Management Methods: These methods such as waterfall method provide an effective scheduling for worst-case task durations with its main focus on progress of tasks. These methods includes faster reaction towards to uncertainty by modifying priorities, expediting, as well as planning fresh schedule. The major disadvantages in traditional project tools can be overcome by employing critical path and chain technique.

Answer 2

Am still confused mostly on critical chain