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In a project plan, the critical chain is the sequence of both precedence- and resource-dependent tasks that prevents a project from being completed in a shorter time, given finite resources. If resources are always available in unlimited quantities, then a project's critical chain is identical to its critical path method .
LSM is used mainly in the construction industry to schedule resources in repetitive activities commonly found in highway, pipeline, high-rise building and rail construction projects. These projects are called repetitive or linear projects.
The project schedule is a calendar that links the tasks to be done with the resources that will do them. It is the core of the project plan used to show the organization how the work will be done, commit people to the project, determine resource needs, and used as a kind of checklist to make sure that every task necessary is performed.
The crowding problems were acute because the delivery of design and construction for academic buildings usually took 4 to 6 years. Meanwhile, the high rate of inflation was eroding construction budgets. [7] A 4-5 year project schedule might see the buying power of appropriated funds for building projects reduced significantly.
[1] They are used by a construction manager who is working as an agent to the owner or by the owner itself to carry-out a construction project while mitigating the risks to the scope of work, time, budget, quality and safety of the project. These risks ranges from cost overruns, time delays and conflict among the various parties.
This is one of the first steps that is taken by the contractor after execution of the construction contract and issuance of the "Notice to Proceed". The submittal process affects cost, quality, schedule, and project success. On large, commercial projects the submittal process can involve thousands of different materials, fabrications and equipment.
Safety stock is an additional quantity of an item held in the inventory to reduce the risk that the item will be out of stock. It acts as a buffer stock in case sales are greater than planned and/or the supplier is unable to deliver the additional units at the expected time.
The CxP typically is responsible for leading and managing the project commissioning process (design and/or construction) and works closely with the design, construction, and operation teams in a co-operative work environment that focuses on teamwork throughout the building's design, construction, and post construction.
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