Definition:
Extra time or resources allocated to account for potential delays or uncertainties.
Key Components:
- Project Buffer: Protects the final project completion date.
- Feeding Buffer: Shields non-critical tasks from impacting the critical path.
Use Cases/Industries:
- Construction: Adding contingency days for bad weather delays.
- Energy Sector: Allowing additional time for regulatory approvals.
- Manufacturing: Building extra production capacity for unexpected demand.
Advantages:
- Reduces schedule risks.
- Enhances project flexibility.
- Provides a safety margin for unexpected issues.
Challenges:
- Excessive buffers can reduce efficiency.
- Requires careful planning to avoid unnecessary delays.
Related Terms:
Critical Chain, Schedule Risk Analysis, Time Contingency
Example:
A solar power project included a 15-day risk buffer to account for potential supply chain delays.
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Synonyms:
Contingency Allowance, Schedule Reserve, Time Cushion
