How could the drum buffer concepts from critical chain portfolio management be applied to this problem?
Answers
Project-based management has long been the business style associated with the construction industry, U.S. defense contractors, large consulting firms, and even Hollywood. Today, project management is spreading to all sectors of work. Accordingly, the membership in the Project Management Institute (PMI®), a professional organization for the project management specialist, quadrupled between 1993 and 1997. PMI membership is growing by some 1,200 members per month and is expected to break the 100,000-member mark by 2002. Clearly, the trend indicates that there will be an increase in the importance and role that projects and their successful management contribute to the strategic direction of the firm. David Cleland, an established project management scholar, has declared that this is the “Age of Project Management” (Cleland, 1990).