How Does The Theory of Constraints Apply To Project Management 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 network 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. 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 project’s 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...

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Supply Chain Management and the Theory OF Constraints
Swaroop R.
School of Management Studies
MBA FT S3
E-mail: swathq@gmail.com
Abstract: Supply Chain Management (SCM) has become the backbone of an organisation when it comes to the management of raw as well as finished goods. It is the major component of strategy taken by the organisations to increase productivity as well as profitability. But the constraints on the whole supply chain is always miscalculated and Theory of Constraints (TOC) helps in identifying those obstacles and constraint and restructure the rest of the organization around it. So therefore a report has been put forward for the better understanding of the theory of constraints.
Keywords: Supply chain; Theory of Constraints; TOC;
1.0 INTRODUCTION
Supply chain management has been defined as the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand and measuring performance globally. SCM is a cross-functional approach that includes managing the movement of raw materials into an organization, certain aspects of the internal processing of...

...﻿1. Problems Identified
1.1 Structural Strategy
1. No proper project structure - this made the execution and management of the project very ineffective.
2. Project over budget – The project estimated cost overrun of atleast 20%
3. Poor leadership/no leadership commitment - the customer requested the Divisional GM and his team to present the status of the project. However the DGM instructed Reichart to go with any other 3 or 4 functional managers
4. No Balanced Scorecard with critical success factors, including continuous review and appraisal processes.
5. Lack of a sufficient Guiding Coalition - no support from other functional managers
6. There is no control over functional managers - Reichart did all the work himself due to the lack of communication and the imbalance of power between the project managers and functional managers.
7. There are no policies and procedures in place - Top management failed to implement processes and policies based on programme and projectmanagement principles. This indicate a poor leadership approach
8. No proper resource allocation - Reichart did not have adequate resources(people) that could have stay at required pace or make up for the time already lost in the projectmanagement
9. There was a lack of projectmanagement in the organization -...

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Project Charter
Colorado Spring Welcome Home Parade
QI CHEN
ProjectManagement
January 24, 2015
Abstract
This project charter is planned to help O’Donnell & O’Donnell LLP who will lead the projectmanagement team take place the parade smoothly. This parade for welcoming home troops will be organized in Colorado Spring which has a long history of military. This project charter’s goal is making sure projectmanagement team and sponsors understand all details and tasks of this parade and getting an agreement between these two parties. Some important tasks can be directed with the project charter. For examples, raising fund, arranging thousands of soldiers and planning a lunch for people are some necessary tasks during this parade.
Project Charter:
Colorado Spring Welcome Home Parade
Scope Overview
The scope overview is the project in a nutshell: a high-level description of what needs to be accomplished and how it will be done. (Kloppenborg,2012).
This projectmanagement team lead by O’Donnell & O’Donnell LLP will create some plans about how to carry out the parade according to interdepartmental suggestions. These plans will contains fund...

...is a Project Manager?
1.What skills does he/she require to become a good project manager?
A project manager is an inventive problem-solver, team-builder and steady leader in the organization. Project Manager should have technical as well as management skills. Project Manager is responsible for the administration of the contract within the agreed terms and conditions. He has overall responsibility for completion within time and budget. A single point of contact for formal communication between Organization and Client, he is responsible for ensuring that the organization remains responsive to the Client’s requirements.
2.What are Hard & soft skills? Name at least 10 of each?
The best Project Manager would have the deep understanding and ability to accomplish the following:
Hard Skills
Structured Project Plan
Work Breakdown Structure
Project schedule
Dependency network
Define resource requirements
Manage and monitor Budget
Manage and monitor project plan
Preparing of various achievement reports
Establish, implement and manage Configuration management, documentation management, product management,.
Establish and implement team culture within his assigned project
Soft Skills
Should identify communication channels and have excellent communication skills
Should establish mutual...

...Project Mangement - Constraints
By Jasmeet Prakash
A project has many factors which determine its level of manageability and success. These factors can be considered constraints which may cause delays or difficulties. The most important criteria for a balanced project is often quoted as the careful organisation of these constraints. Constraint reducing techniques are used to better equip aProject Manager for success. These techniques are accomplished through the use of practical guides or methods, improving communication and personal skill of the Manager.
A constraint is a limitation or a restriction. This is anything which can delay the project. In order to figure out how to avoid constraints, it is important to first establish what the specific constraints of a project can be. A project is done on the request of a stakeholder or client who wants something done in a particular way (the needs and wants of the Client). The time in which to complete this is almost always given. The factor of cost is very important as it is a precious and valuable resource which determines the way in which the project can be handled. For example, if a small two bedroom home were to be constructed with the budget of one million dollars, it's very easy to hire plenty of workers,...

...What is the Theory of Constraints?
The Theory of Constraints is an organizational change method that is focused
on profit improvement. The essential concept of TOC is that every organization must have at least one constraint. A constraint is any factor that limits the organization from getting more of whatever it strives for, which is usually profit. The Goal focuses on constraints as bottleneck processes in a job-shop manufacturing organization. However, many non-manufacturing constraints exist, such as market demand, or a sales department's ability to translate market demand into orders.
The Theory of Constraints defines a set of tools that change agents can use to manage constraints, thereby increasing profits. Most businesses can be viewed as a linked set of processes that transform inputs into saleable outputs. TOC conceptually models this system as a chain, and advocates the familiar adage that a "chain is only as strong as its weakest link." Goldratt defines a five-step process that a change agent can use to strengthen the weakest link, or links. In The Goal, Goldratt proves that most organizations have very few true constraints. Since the focus only needs to be on the constraints, implementing TOC can result in substantial improvement without tying up a great deal of resources,...

...﻿Compare and Contrast Scenario Planning and ProjectManagement
Scenario Planning and ProjectManagement have different perspectives and procedures. General planning method, projectmanagement, has been widely used for decision making. However, this tool is pointed out that this has limitations to predict changes in the external environment, especially, in dramatically changing and more complex environment. This means that people and institutions may overlook their opportunities and threats. Scenario planning is a method designed to deal with their uncertain future. In the book, the Art of the Long View, Peter Schwartz explains scenario planning based on his own experience in Royal Dutch/Shell. What is projectmanagement and scenario planning? What is difference between scenario planning and project manager?
1. ProjectManagement – The Art of the Short View
Project is related with activity to produce a unique product, service or certain goal. Projectmanagement is suitable for accomplish a singular goal in short-term or one-time project which has a limited beginning and end in time, and therefore need defined organize resources, both human resources and financial capital, for specific task. This has the following series of procedure; manager or team members...