Abstract
Product development projects, like many other types of projects, often can exceed their planned schedule by 50% to 100%. Often this is attributed to uncertainty or the unforeseen. To compensate for this age-old dilemma, managers and project personnel have learned to compensate by adding additional time to their schedule estimates. Yet even when they do, projects still overrun their schedules. In this case study, the theory of constraints (TOC) and critical chain (CC) method are applied to the construction of yacht shipbuilding. The TOC is an approach that can be used to develop specific management techniques. The TOC technique for project time management is often referred to as the ‘CC’ technique. Using the synergies provided by the simultaneous adoption of project management policies and critical chain planning methods enables considerable changes to be made with a view to producing plans which ensure lower duration at the lowest possible cost. The aim of the study was to analyse the process as it had always been implemented up to 2008, identifying any related problems and inconsistencies, and then to describe the reengineering of this process, assessing and emphasising the changes involved and identifying further opportunities for improvement.
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