a) This technique is based on “Student Syndrome”, which means, start any avtivity as late as possible.
b) While creating estimates, allow only that much time for an activity that there is a 50% probability of completion.
c) Don’t criticize your team members if they are not able to complete the activity in the agreed time frame.
d) Find out the critical path. The chain of activities on critical path will be known as critical chain.
e) Add 50% time buffer in all non critical chains (also known as feeding chains) and 50% time buffer in the critical chain, which will be known as project buffer.
f) If any activity in the feeding chain gets delayed, it will consume the buffer of that particular feeding chain. When the feeding chain buffer is exhausted, it will consume the project buffer.
e) Monitor the feeding chain / project buffer and the activities pending at any time.
Has this technique become popular in industry?