Buffer Determination of Critical Chain Project Based on Improved Principal-agent Model

Abstract:

On the ground that previous buffer determination methods do not pay much attention to the psychological and behavior impact on the safety time extraction， based on the principal-agent model， this study selects the vertical trust between employees and supervisors as the breakthrough point by taking into consideration of the influence of factors such as trust relationship and behavior preference on the determination of buffer. It takes the maximum benefit of both parties as the optimization goal to solve the effort level of employees and determine the safety time of activities. This method is validated by Monte-Carlo simulation and proves to be appropriate to protect the project with reasonable buffer. The duration is shortened， and the project completion is guaranteed.