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Project Management

Project Management
A Risk-Management Approach

September 2020 | 712 pages | SAGE Publications, Inc
As the number and size of projects continue to increase, there is a growing demand for effective project managers. Project Management: A Risk-Management Approach prepares students to successfully navigate the many challenges, factors, and situations that project managers face. Authors Ted Klastorin and Gary Mitchell emphasize the importance of mitigating risk at every stage, helping students avoid common pitfalls that lead to project failures, compromised schedules, or incurred costs. Real-world examples, cases, solved problems, and practice problems help bring methodologies to life. Readers will be equipped with the tools they need to plan, schedule, and monitor even the most complex projects in a variety of market sectors.

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About the Authors
Chapter 1. An Introduction to Project Management
1.1 Introduction

1.2 What Defines a Project?

1.3 The Project Life Cycle

1.4 Measures of Project Success and Failure

1.5 Managing Project Risks

1.6 Project Management Trade-Offs

1.7 Program Versus Project Management

1.8 Agile Project Management: A Modern Development

1.9 A Brief History of Project Management

1.10 Overview of the Text

Chapter 2. Project Initiation and Selection
2.1 Introduction

2.2 The Relationship of Projects to Strategic and Operational Goals

2.3 Simple Numerical Measures

2.4 Advanced Measures

2.5 Implementing “Options Thinking”

2.6 “Stage Gates” Defined

2.7 Ranking and Scoring Methods

2.8 Evaluating Project Portfolios


Chapter 3. Project Planning
3.1 Introduction

3.2 Outline of a Project Plan

3.3 Risk Management Strategy and Plan

3.4 Communications Strategy and Plan

3.5 Identifying Project Requirements


Chapter 3S. Supplement: Agile Project Management
3S.1 Introduction

3S.2 Agile Project Management

3S.3 Implementing Agile PM

3S.4 Scrum and Extreme Programming

3S.5 Velocity and Burndown Charts

3S.6 Risk Management and the Agile–Traditional Continuum

3S.7 Agile PM Analogy: American Football


Chapter 4. Defining Project Content
4.1 Introduction

4.2 Costs Defined

4.3 Defining Project Work

4.4 Estimating Work Content and Task Duration

4.5 Deterministic Versus Stochastic Estimates

4.6 Common Pitfalls and Perils


Chapter 4S. Supplement: Review of Probability and Distribution Functions
4S.1 Introduction

4S.2 Probability Distributions

4S.3 Summary Measures for Probability Distributions

4S.4 Common Discrete Distributions

4S.5 Common Continuous Distributions

4S.6 Sums of Random Variables


Chapter 5. Scheduling a Deterministic Project
5.1 Introduction

5.2 Determining a Project’s Schedule

5.3 The Critical Path Method

5.4 Calculating Slacks (Floats)

5.5 Types of Precedence Relations

5.6 Linear Programming Formulation

5.7 Gantt Charts: Representing the Schedule Graphically

5.8 Activity-on-Arc Precedence Networks

5.9 A Note Regarding Software Programs


Chapter 6. Project Trade-Offs and Risk Mitigation
6.1 Introduction

6.2 Preparing a Budget: The Basic Time–Cost Relationship

6.3 Project Compression: Time–Cost Trade-Offs

6.4 Risk Management and Time–Cost Trade-Offs

6.5 Time–Cost Trade-Offs in Stochastic Projects

6.6 Other Trade-Off Issues: Concurrent Engineering and Coordination Costs


Chapter 7. Scheduling Stochastic Projects
7.1 Introduction

7.2 Proactive Versus Reactive Scheduling

7.3 Using Buffers to Protect the Schedule

7.4 Planning Under Task Time Uncertainty Using Classic PERT

7.5 Planning Under Task Time Uncertainty Using Monte Carlo Simulation Models

7.6 Managing Exogenous Uncertainties

7.7 Task Time Uncertainty and the Theory of Constraints


Chapter 7S. Supplement: Monte Carlo Simulation
7S.1 Introduction

7S.2 The Basic Concept

7S.3 Generating Random Variates

7S.4 Generate Trials

7S.5 Analyzing the Simulation


Chapter 8. Managing Project Resources
8.1 Introduction

8.2 Defining Resource Types

8.3 Criteria for Scheduling Resource Types

8.4 The Resource Leveling Problem Defined

8.5 The Rate-Constrained Resource Allocation Problem

8.6 Heuristics for the Rate-Constrained Resource Allocation Problem

8.7 An Easily Solvable Rate-Constrained Resource Allocation Problem: The Critical Chain Defined

8.8 The Critical Chain Methodology

8.9 Defining Resource Buffers

8.10 Capacity-Constrained Resource Allocation

8.11 Supply Chain Management and Projects

8.12 Impact of Worker Behaviors on Project Outcomes


Chapter 9. Project Teams
9.1 Introduction

9.2 Forming a Project Team

9.3 Assigning Potential Team Members to a Project

9.4 Making Trade-Off Decisions When Creating Project Teams

9.5 Determining Team Size When Resource Availability Is Uncertain

9.6 Managing the Project Team

9.7 Managing the End of Project Transition


Chapter 10. Managing Decentralized Projects
10.1 Introduction

10.2 Decentralized Projects

10.3 Subcontracting Issues Defined

10.4 Underlying Economic Concepts

10.5 Contract Types Defined

10.6 Defining a Contract That Maximizes the Project Value


Chapter 11. Assessing Project Progress
11.1 Introduction

11.2 Assessing In-Control Versus Out-of-Control Project States

11.3 Earned Value Analysis Defined

11.4 Limitations of Earned Value Analysis

11.5 Updating Cost and Schedule Forecasts


Chapter 12. Managing a Multiproject Environment
12.1 Introduction

12.2 Managing the Project Portfolio

12.3 Ensuring Projects Deliver Their Value Propositions

12.4 The Role of the Project Manager

12.5 The Role of the PMO


Appendix A: Textbook Notations Defined
Appendix B: MS Project Practice Problems


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Key features
  • A focus on risk management emphasizes the importance of identifying different types of risk and risk trade-offs.
  • A chapter on managing decentralized projects highlights the unique challenges of recruiting and managing independent contractors.  
  • A supplemental mini-chapter on agile project management explores the advantages and disadvantages of agile project management in practice.
  • Spreadsheet models illustrate the issues that arise when planning and executing complex projects.
  • Case-based problems at the end of the chapters allow students to practice the skills they just learned.
  • An appendix of Microsoft® Project problems provides opportunities for students to practice using MS Project software.

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