Since the publication of Goldratt’s Critical Chain, most of the books and articles devoted to Critical Chain Project Management (CCPM) present it in contrast to an assumed wellknown but undefined “traditional” CPPM (Critical Path Project Management), spending more attention to describe how CCPM differs from traditional CPPM than in describing the methodology, techniques and assumptions behind CPPM. There is already good evidence that CCPM delivers results when applied to real situations. The paper dissects the Critical Chain Project Management CCPM philosophy, discusses its distinctive elements, grouping them around five main issues. The paper combines a theoretical presentation of the issues with empirical evidence from the results of a survey and the application of CCPM techniques to a large shipbuilding company.