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Managerial Process
Briefly describe the difference between time-constrained project and resource-constrained project with regard to scheduling methods.
Time constrained projects are focused on the schedule more than any other aspects of the project. For example, if the project has to be completed by a certain date and if the project is late there is a big penalty or the project is a failure all together. A specific example of this would be a software company trying to be the first firm to market with a new good. If the project is late, then another competitor would be the first and the project would be a failure. By contrast resource constrained projects try to maximize the use of the resources that they have available. An example of this could be a construction company that only has a select number of certain types of equipment. For example, if the company owns an expensive excavator then they might plan projects around this resource so that they can maximize the use of the piece of equipment.
2) Then relate these two types of scheduling to Critical Chain Approach (P. 295 -Exhibit 81-) and The critical chain is the most important activities on the schedule that can affect the overall project completion date. Some managers will put off activities that are not along the critical path while others are more aggressive. It all depends on the project and how the project manager utilizes his funding and his resources. The project manager must consider the budget, the schedule, and the scope of the project at all times and consider how each of these affect the project's outcome.
3) Explain how this approach relates to each type of those two projects.
In a resource-based critical chain the chain will center on the particular resource rather than an individual activity. For example, with an expensive piece of machinery the project manager will want to make sure that it is running as much as possible. Therefore the rest of the schedule would revolve around the piece of equipment and this would represent the critical path. On a time sensitive project, the critical path is essential to keep a close eye on. It might even be necessary to crash certain activities to expedite the schedule in case there is any kind of delay that presents itself later in the project.
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