Abstract To improve the comprehensive performance of project, this study proposes a buffer determination method by considering the perception of bonus and penalty of the manager. Based on the bonus and penalty mechanism, this method analyzes the impact of each activity manager’s perception of bonus and penalty mechanism on their reported work schedule. According to the situation of buffer determination, three reference points are selected, and the comprehensive value function and weight decision function of different activity managers are determined by using prospect theory. The comprehensive cumulative prospect value of each activity at different completion time is calculated, and the activity duration corresponding to the maximum prospect value is selected as the activity benchmark duration. Then, the safety time is extracted, and the project buffer is determined. Monte Carlo simulation is used to verify the method. The simulation results show that this method can effectively improve the overall performance of the project and reduce the buffer consumption. Also, the on-time completion rate and project management efficiency are improved.
ZHANG Junguang,WANG Meihua. Buffer Determination Method of Critical Chain Project Based on Bonus and Penalty Mechanism[J]. Chinese Journal of Management, 2022, 19(9): 1382-.
