  Deployment of emerging technologies and rapid change in industries has
created a lot of risk for initiating the new projects. Many techniques and
suggestions have been introduced but still lack the gap from various
prospective. This paper proposes a reliable project scheduling approach. The
objectives of project scheduling approach are to focus on critical chain
schedule and risk management. Several risks and reservations exist in projects.
These critical reservations may not only foil the projects to be finished
within time limit and budget, but also degrades the quality, and operational
process. In the proposed approach, the potential risks of project are
critically analyzed. To overcome these potential risks, fuzzy failure mode and
effect analysis (FMEA) is introduced. In addition, several affects of each risk
against each activity are evaluated. We use Monte Carlo simulation that helps
to calculate the total time of project. Our approach helps to control risk
mitigation that is determined using event tree analysis and fault tree
analysis. We also implement distribute critical chain schedule for reliable
scheduling that makes the project to be implemented within defined plan and
schedule. Finally, adaptive procedure with density (APD) is deployed to get
reasonable feeding buffer time and project buffer time.
