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Guide Project Management: Tools and Trade-offs

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The book uses spreadsheets to explain many PM concepts and methodologies. Most students today are familiar with spreadsheets and can easily relate to their use and application. I have tried to include all models that have important applications or present valuable insights for students and practitioners. These models are described analytically using both basic algebraic notation as well as spreadsheets.

I hope that these spreadsheet models will allow students to explore PM issues that are not addressed by commercial PM software e.


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I have tried to relate the material in the book to other business and engineering courses; for example, there is material on budgeting relating to managerial accounting , the impact of organization design on project success relating to organizational theory , project teams courses in organizational behavior , project scheduling relating to opera- tions management courses , new product development relating to marketing courses , and considerable material throughout the book on sofhuare project management relating to courses in informationsystems.

As such, the subjectmatter should relate to studentsin a variety of areas, including information systems, marketing, industrial engineering, and operations management students, among others. There has been a great deal of recent research that is relevant to project managers but doesn't appear in most PM textbooks. For this reason, I have included much of this material into the text, including project taxonomies, recent work done on the effects of uncertainty on subcontracting and bidding, work on material management and pur- chasing in projects, work on software project management, and current research on risk management.

Finally, I have included a number of new cases, games, and studyproblems that have proven helpful in illustrating some of the complex issues faced by project managers. Included among these is the New Product Development Game, an interactive board game that I developed with Chris' Sandvig and have used in numerous classes and executive programs. The game is especially useful for relating the concepts of project management to the problems of new product development in a high-tech environment the game is based on the development of a hand-held marine radar unit.

This game can be played in one class session or used as a case study. This book is intended for use in undergraduate and graduate project management elective courses at most universities and colleges. In addition, it is expected that the book will serve as a general reference text and could be used in executive programs. This book is written so that it can be used with a minimum number of prerequisites I assume that the reader has had some basic exposure to linear and integer program- ming, understands basic concepts of probability and statistics, and is familiar with basic spreadsheets.

What Is The Project Management Triple Constraint?

Finally, I welcome your comments and suggestions. I want to create a text that will provide a substantive and meaningful project management course that will motivate all stakeholders to consider issues beyond a superficial level. Any assistance that you can provide in this regard will be sincerely appreciated and acknowledged.

I can be con- tacted by e-mail at tedk u. In doing so, we can address the issue of a possible "discon- nect" between most PM software that assumes everything is deterministic and real-world proiects that are subject to randomness in both time and cost. The text ini-- - tially discusses an overview of project management and PM's importance in today's eco- nomic environment.

Chapter 2 discusses the issues of project initiation and selection and. Chapter2 also introduces projectplanning, includingwork breakdown structuresand time and cost estimation. Chapter 3 discusses organizationaland behavioral issues, including several issues relating to the formation and supervision of project teams. Chapter 4 pres- ents the basics of the criticalpath method CPM and showshow they relate to managing project schedules.

Chapter 5 extends the CPM to deal with costs e.

The issue of randomness is further discussed in Chapter 6, including a discussion of the Classic PERT model and currentmethods e. Chapter 7 is devoted to risk management, the task that occupies much of a project manager's time and effort. Chapter 8 discusses resource leveling and resource allocation, both when resource requirements are deterministic and when such requirements are uncertain.

Chapter 9 deals with moni- toring and control systems, and the final chapter Chapter 10 deals with the management of multiple projects. In additionto the cases and study problems that are included in the text, I gen- erally use a number of field case studies. I have tried to select cases that both reinforce the trade-offs discussed in the book and bring real-world complications and behavioral aspects into the classroom. In addition, I have found that careful selection of outside speakers can reinforce many of the concepts emphasized in the book and give studentswho have not been directly involvedin manag- ing a complex project a good sense of the difficulties and issues involved in managing messy real-world projects.

Risk:An add-in to Microso!? Project that increases the functionality of MS Project by lettingthe user easily constructpowerful Monte-Carlosimulations. PowerPoint slides:A PowerPoint presentation with over slides prepared by the author supports the material in the text. Instructor's ManuaUSolutionsGuide: Solutions for all homework problems and suggested teaching guides for case studies. I have learned much from my colleagues at the University of Washington, with special thanks to Professor Karen Brown.

As mentioned previously, I have learned a great deal and developed enormous respect for those managers who are "on the line" managing complex projects with real costs and real risks; two of the best are Steve Levy Microsoft and Brian Cline Boeing Corporation.

Project Management - Cost and Crashing tradeoffs on Excel

Many of my MBA stu- dents over the years have served as guinea pigs with this material; I am especially grate- ful to Jack Eisenhower and Robert Barrick for their contributions to this book. For all I would also like to thank Christianne Thillen for her valued suggestions. And last, but never least, my family truly created a project team that provided support and motiva- tion that can never be adequately acknowledged.

He holds a B.

Professor Klastorin's research interests includeproject managementand supply chain managementissues in manufacturing and service organizations. His currentresearch proj- ects include the study of uncertain disruptive events e. Professor Klastorin has consulted with numerous organizations, including Boeing, Starbucks,Fluke Corp, and Microsoff where he has assisted with the design of Microsoft Project. W h a t is behind the rapidly increasing demand for project management software, con- sultants, books, and training?

Why are so many people focusing on project management today? What can project management offer that other management methodologies cannot? The reasons for the rapidly increasing focus on project management PM are evident from a careful examination of the current business landscape. Perhaps most important, project management is synonymous with change management. Organizations that want to change their focus or direction increasingly recognize that implementing real change requires the introduction of new products, processes, or programs in a timely and cost- effective manner.

Rapid change has become an essential survival requirement for most organizations today. As product life cycles continue to decrease, new products and services must be devel- oped and implemented as quickly and efficiently as possible. In addition, products are becoming obsolete at an increasing rate.

Griffin and Page report that as much as 50 percent of a typical firm's revenues comes from products that were introduced in the last five years-compared to an estimate of 33 percent in the sand 20 percent in the s Takeucbi and Nonaka, Shorter product life cycles require that the selection and development of new products be managed in a cost-effective manner that maximizes the chances of commercial success.

In some industries, managers have considerably less than five years to develop, produce, and market new products.

Why Does The Project Management Triple Constraint Matter?

Yang stated the case for new product development very succinctly: "Time to market means life or death, and anything that can tip the scale in your favor is precious. The nature of projects has changed in the past decade as well. Project management has been used since the time of the Egyptian pyramids almost five thousand years ago.

While we don't know if the Egyptian pyramids were completed on schedule and within budget, we do know that organizations today routinely conduct projects in complex global envi- ronments that make coordination and communication much more difficult than when the Egyptians were building five thousand years ago. Many of these projects, especially infor- mation technology IT projects, represent significant investments to an organization such that project failure can mean organizational demise. Project managers must use methods that will maximize the probability that these projects will be successful.

Given the increasing importance of managing complex projects, it is disturbing to see the high number of projects that fail to meet their basic goals.

Trading Off Value, Quality, and Time

In a survey of twenty-three thousand application projects, the Standish Group reported that only 26 percent of the proj- ects in were completely successful, while 46percent of the projects were "challenged" 1 The statistics reported by the Standish Group are disturbingly consistent with other studies. Bounds reported that only 26 percent of IT projects were completed on time and within budget. Yeo reported that approximately 31 percent of the two hundred thousand software development projects undertaken by U. Yeo also reported that only 13percent of IT system projects were considered successful by sponsoring managers, while only Additional examples illustrate the importance of PM success and the high costs of PM failure.

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On the success side,BC Hydro recently completed a power plant replacement project in British Columbia, Canada on time and 21 percent under budget by using pro- fessional PM techniques. Effective PM not only saved BC Hydro millions of dollars but also demonstrated how these "techniaues ensure that vroiects succeed technicallv. In Germany, archaeologists have found that PM tools offer an effective wav to manage the exvloration and excavation of archae-- ological sites Walker, In another success story,Taco Bell managers describedhow they completely rebuilt a Taco Bell restaurant that had been destroyed by fire.

The man- agers were able to dramatically reduce the normal time for this project h m sixty days to forty-eight hours by carefully applyingPM techniques in fifteen-minute time increments Industrial Engineering, These examples indicate what PM can accomplish when there is thorough planning, skillll implementation, and good luck. Conversely,there have been many notable project failures. Theproject to build a tunnel under the English Channel cost f3billion more than its originalestimate and took two years longerthan planned.

Even MickeyMouse hasbeen unableto escapethe difficulties imposed by managing complex projects, as many of Disney's frustratedcustomerswould testify see the accompanying article. Given this recent history of project experience, professional project management offers a methodology that has been carefully defined, refined, and successfully applied over the past fifty years.

ISBN 13: 9780471413844

Project management is a well-developed system that can help organizations meet their goals in a timely fashion. As a result, project management has become an essential part of high-technology management, a criticalelement of electronic commerce, and an important part of the globalization movement that has transformed the world economy in the past ten years.

Given the size and scope of all projects undertaken annually,it is clear why project managementhas become a major focus of global business and government. This book introducesthe basic concepts of project management in order to give man- agers a clear understanding of the tools and trade-offs that complex projects require.

Throughout the book, we focus on the problems faced by managers who must complete complex projects. In this first chapter, we consider the following issues: What is project management, and how does it differ from other forms of man- agement e. What is a project? How do you define project success and failure?

Project Management: Tools and Trade-offs - Ted Klastorin - Google книги

How do IT projects differ from other projects? What is a PM life cycle? What are some common life-cycle models? How can you consider project risk? What is the history of project management? What is the nature of PM software?