Project Management in Practice
6th Edition
Book
Paperback/Softback
336 pages
978-1-119-29885-4 (ISBN)
Description
Offering streamlined coverage with an applied approach, Project Management in Practice, 6th Edition focuses on the essentials of project management. This concise, hands-on text is ideal for a one semester project management course, or as a module on project management. This textbook is organized around the project management life cycle, and provides students with essential project management concepts while addressing an important area of industry growth: the use of projects to achieve the strategic goals of organizations.
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Jack R. Meredith | Scott M. Shafer | Samuel J. Jr. Mantel
Project Management in Practice
Book
09/2013
5th Edition
Wiley
€75.60
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Content
1 THE WORLD OF PROJECT MANAGEMENT 1
1.1 What Is a Project? 1
Trends in Project Management 3
1.2 Project Management vs. General Management 4
Major Differences 4
Negotiation 5
1.3 What Is Managed? The Three Goals of a Project 7
1.4 The Life Cycles of Projects 10
1.5 Selecting Projects To Meet Organizational Objectives 11
Nonnumeric Selection Methods 12
Numeric Selection Methods 13
1.6 The Project Portfolio Process 21
1.7 The Materials in this Text 25
Review Questions 27
Discussion Questions 27
Exercises 28
Incident for Discussion 28
Case: Friendly Assisted Living Facility-1 29
Case: Handstar Inc. 30
Bibliography 32
2 THE MANAGER, THE ORGANIZATION, AND THE TEAM 33
2.1 The PM's Roles 34
Facilitator 34
Communicator 36
Virtual Project Manager 39
Meetings, Convener and Chair 40
2.2 The PM's Responsibilities to the Project 41
Acquiring Resources 41
Fighting Fires and Obstacles 42
Leadership 42
Negotiation, Conflict Resolution, and Persuasion 44
2.3 Selection of a Project Manager 46
Credibility 47
Sensitivity 47
Leadership, Style, Ethics 47
Ability to Handle Stress 48
2.4 Project Management as a Profession 50
2.5 F itting Projects into the Parent Organization 51
Pure Project Organization 52
Functional Project Organization 53
Matrix Project Organization 54
Mixed Organizational Systems 57
The Project Management Office and Project Maturity 57
2.6 The Project Team 59
Matrix Team Problems 61
Intrateam Conflict 62
Integration Management 64
Review Questions 66
Discussion Questions 66
Incidents for Discussion 67
Case: Friendly Assisted Living Facility-2 68
Case: The Quantum Bank 68
Case: Southern Care Hospital 69
Bibliography 71
3 PROJECT ACTIVITY AND RISK PLANNING 74
3.1 From the Project Charter to the Project Plan 74
3.2 The Planning Process-Overview 76
3.3 The Planning Process-Nuts and Bolts 77
The Launch Meeting-and Subsequent Meetings 77
Sorting Out the Project-The Work Breakdown Structure (WBS) 80
Extensions of the Everyday WBS 83
3.4 More on the Work Breakdown Structure and Other Aids 86
The RACI Matrix 86
A Whole-Brain Approach to Project Planning 88
The Design Structure Matrix 91
Agile Project Management 92
3.5 Risk Management 94
Review Questions 101
Discussion Questions 101
Exercises 102
Incidents for Discussion 103
Case: Friendly Assisted Living Facility-3 104
Case: John Wiley & Sons 105
Case: Samson University 106
Bibliography 107
4 BUDGETING THE PROJECT 109
4.1 Methods of Budgeting 110
Top-Down Budgeting 112
Bottom-Up Budgeting 113
4.2 Cost Estimating 113
Work Element Costing 114
The Impact of Budget Cuts 114
An Aside 116
Activity versus Program Budgeting 118
4.3 Improving Cost Estimates 119
Forms 119
Learning Curves 119
Other Factors 123
4.4 Budget Uncertainty and Project Risk Management 125
Budget Uncertainty 125
Project Budgeting in Practice 128
4.5 Project Risk Simulation with Crystal Ball® 129
Considering Disaster 136
Review Questions 137
Discussion Questions 137
Exercises 138
Incidents For Discussion 139
Case: Friendly Assisted Living Facility Project Budget Development-4 140
Case: Photstat Inc. 142
Case: Building the Geddy's dream house 143
Bibliography 144
5 SCHEDULING THE PROJECT 145
5.1 Pert and CPM Networks 146
The Language of PERT/CPM 146
Building the Network 147
Finding the Critical Path and Critical Time 149
Calculating Activity Slack 151
Doing It the Easy Way-Microsoft Project (MSP) 152
5.2 Project Uncertainty and Risk Management 155
Calculating Probabilistic Activity Times 155
The Probabilistic Network, an Example 156
Once More the Easy Way 158
The Probability of Completing the Project on Time 159
Selecting Risk and Finding D 162
The Case of the Unreasonable Boss 162
A Potential Problem: Path Mergers 163
5.3 Simulation 164
Incorporating Costs into the Simulation Analysis 166
Traditional Statistics versus Simulation 167
5.4 The Gantt Chart 170
The Chart 170
5.5 Extensions to PERT/CPM 172
Precedence Diagramming 173
Final Thoughts on the Use of These Tools 174
Review Questions 175
Discussion Questions 176
Exercises 176
Discussion Exercise 179
Incidents for Discussion 179
Case: Friendly Assisted Living Facility Program Plan-5 180
Case: NutriStar 182
Case: Launching E-Collar 184
Bibliography 185
6 ALLOCATING RESOURCES TO THE PROJECT 186
6.1 Expediting a Project 187
The Critical Path Method 187
Crashing a Project with Excel 191
Fast-Tracking a Project 195
Project Expediting in Practice 195
6.2 Resource Loading 196
The Charismatic VP 202
6.3 Resource Leveling 202
Resource Loading/Leveling and Uncertainty 209
6.4 Allocating Scarce Resources to Projects 211
Some Comments about Constrained Resources 211
Some Priority Rules 211
6.5 Allocating Scarce Resources to Several Projects 213
Criteria of Priority Rules 214
The Basic Approach 215
Resource Allocation and the Project Life Cycle 215
6.6 Goldratt's Critical Chain 216
Estimating Task Times 219
The Effect of Not Reporting Early Activity Completion 220
Multitasking 221
Common Chain of Events 223
The Critical Chain 224
Review Questions 225
Discussion Questions 226
Exercises 226
Incidents for Discussion 228
Case: Friendly Assisted Living Facility Resource Usage-6 229
Case: Charter Financial Bank 231
Case: Rand Contractors 232
Bibliography 233
7 MONITORING AND CONTROLLING THE PROJECT 234
7.1 The Plan-Monitor-Control Cycle 234
Designing the Monitoring System 236
7.2 Data Collection and Reporting 237
Data Analysis 237
Reporting and Report Types 238
Meetings 240
Virtual Meetings, Reports, and Project Management 241
7.3 Earned Value 242
7.4 Project Control 249
Purposes of Control 249
7.5 Designing the Control System 251
Types of Control Systems 252
Tools for Control 254
Burnup and Burndown Charts 257
7.6 Scope Creep and Change Control 257
Review Questions 259
Discussion Questions 260
Exercises 260
Incidents for Discussion 261
Case: Friendly Assisted Living Facility Case-7 263
Friendly Assisted Living Facility Construction coordination meeting 4/11/X8 ACTION ITEM LIST 265
Case: Palmstar Enterprises, Inc. 266
Case: Peak Lighting, Inc. 266
Bibliography 267
8 EVALUATING AND CLOSING THE PROJECT 269
8.1 Evaluation 269
Evaluation Criteria 270
Measurement 271
8.2 Project Auditing 272
The Audit Process 272
The Audit Report 274
8.3 Project Closure 277
When to Close a Project 277
Types of Project Closure 278
The Closure Process 279
The Project Final Report 281
Review Questions 283
Discussion Questions 283
Incidents for Discussion 284
Case: Friendly Assisted Living Facility Case-8 284
Case: Datatech 287
Case: Ivory Tower Systems 288
Bibliography 290
APPENDIX: PROBABILITY AND STATISTIC 291
A.1 Probability 291
Subjective Probability 292
Logical Probability 292
Experimental Probability 292
A.2 Event Relationships and Probability Laws 292
The Multiplication Rule 293
The Addition Rule 294
A.3 Statistics 294
Descriptive versus Inferential Statistics 295
Measures of Central Tendency 296
Measures of Dispersion 297
Inferential Statistics 298
Standard Probability Distributions 299
Bibliography 300
Index 301
1.1 What Is a Project? 1
Trends in Project Management 3
1.2 Project Management vs. General Management 4
Major Differences 4
Negotiation 5
1.3 What Is Managed? The Three Goals of a Project 7
1.4 The Life Cycles of Projects 10
1.5 Selecting Projects To Meet Organizational Objectives 11
Nonnumeric Selection Methods 12
Numeric Selection Methods 13
1.6 The Project Portfolio Process 21
1.7 The Materials in this Text 25
Review Questions 27
Discussion Questions 27
Exercises 28
Incident for Discussion 28
Case: Friendly Assisted Living Facility-1 29
Case: Handstar Inc. 30
Bibliography 32
2 THE MANAGER, THE ORGANIZATION, AND THE TEAM 33
2.1 The PM's Roles 34
Facilitator 34
Communicator 36
Virtual Project Manager 39
Meetings, Convener and Chair 40
2.2 The PM's Responsibilities to the Project 41
Acquiring Resources 41
Fighting Fires and Obstacles 42
Leadership 42
Negotiation, Conflict Resolution, and Persuasion 44
2.3 Selection of a Project Manager 46
Credibility 47
Sensitivity 47
Leadership, Style, Ethics 47
Ability to Handle Stress 48
2.4 Project Management as a Profession 50
2.5 F itting Projects into the Parent Organization 51
Pure Project Organization 52
Functional Project Organization 53
Matrix Project Organization 54
Mixed Organizational Systems 57
The Project Management Office and Project Maturity 57
2.6 The Project Team 59
Matrix Team Problems 61
Intrateam Conflict 62
Integration Management 64
Review Questions 66
Discussion Questions 66
Incidents for Discussion 67
Case: Friendly Assisted Living Facility-2 68
Case: The Quantum Bank 68
Case: Southern Care Hospital 69
Bibliography 71
3 PROJECT ACTIVITY AND RISK PLANNING 74
3.1 From the Project Charter to the Project Plan 74
3.2 The Planning Process-Overview 76
3.3 The Planning Process-Nuts and Bolts 77
The Launch Meeting-and Subsequent Meetings 77
Sorting Out the Project-The Work Breakdown Structure (WBS) 80
Extensions of the Everyday WBS 83
3.4 More on the Work Breakdown Structure and Other Aids 86
The RACI Matrix 86
A Whole-Brain Approach to Project Planning 88
The Design Structure Matrix 91
Agile Project Management 92
3.5 Risk Management 94
Review Questions 101
Discussion Questions 101
Exercises 102
Incidents for Discussion 103
Case: Friendly Assisted Living Facility-3 104
Case: John Wiley & Sons 105
Case: Samson University 106
Bibliography 107
4 BUDGETING THE PROJECT 109
4.1 Methods of Budgeting 110
Top-Down Budgeting 112
Bottom-Up Budgeting 113
4.2 Cost Estimating 113
Work Element Costing 114
The Impact of Budget Cuts 114
An Aside 116
Activity versus Program Budgeting 118
4.3 Improving Cost Estimates 119
Forms 119
Learning Curves 119
Other Factors 123
4.4 Budget Uncertainty and Project Risk Management 125
Budget Uncertainty 125
Project Budgeting in Practice 128
4.5 Project Risk Simulation with Crystal Ball® 129
Considering Disaster 136
Review Questions 137
Discussion Questions 137
Exercises 138
Incidents For Discussion 139
Case: Friendly Assisted Living Facility Project Budget Development-4 140
Case: Photstat Inc. 142
Case: Building the Geddy's dream house 143
Bibliography 144
5 SCHEDULING THE PROJECT 145
5.1 Pert and CPM Networks 146
The Language of PERT/CPM 146
Building the Network 147
Finding the Critical Path and Critical Time 149
Calculating Activity Slack 151
Doing It the Easy Way-Microsoft Project (MSP) 152
5.2 Project Uncertainty and Risk Management 155
Calculating Probabilistic Activity Times 155
The Probabilistic Network, an Example 156
Once More the Easy Way 158
The Probability of Completing the Project on Time 159
Selecting Risk and Finding D 162
The Case of the Unreasonable Boss 162
A Potential Problem: Path Mergers 163
5.3 Simulation 164
Incorporating Costs into the Simulation Analysis 166
Traditional Statistics versus Simulation 167
5.4 The Gantt Chart 170
The Chart 170
5.5 Extensions to PERT/CPM 172
Precedence Diagramming 173
Final Thoughts on the Use of These Tools 174
Review Questions 175
Discussion Questions 176
Exercises 176
Discussion Exercise 179
Incidents for Discussion 179
Case: Friendly Assisted Living Facility Program Plan-5 180
Case: NutriStar 182
Case: Launching E-Collar 184
Bibliography 185
6 ALLOCATING RESOURCES TO THE PROJECT 186
6.1 Expediting a Project 187
The Critical Path Method 187
Crashing a Project with Excel 191
Fast-Tracking a Project 195
Project Expediting in Practice 195
6.2 Resource Loading 196
The Charismatic VP 202
6.3 Resource Leveling 202
Resource Loading/Leveling and Uncertainty 209
6.4 Allocating Scarce Resources to Projects 211
Some Comments about Constrained Resources 211
Some Priority Rules 211
6.5 Allocating Scarce Resources to Several Projects 213
Criteria of Priority Rules 214
The Basic Approach 215
Resource Allocation and the Project Life Cycle 215
6.6 Goldratt's Critical Chain 216
Estimating Task Times 219
The Effect of Not Reporting Early Activity Completion 220
Multitasking 221
Common Chain of Events 223
The Critical Chain 224
Review Questions 225
Discussion Questions 226
Exercises 226
Incidents for Discussion 228
Case: Friendly Assisted Living Facility Resource Usage-6 229
Case: Charter Financial Bank 231
Case: Rand Contractors 232
Bibliography 233
7 MONITORING AND CONTROLLING THE PROJECT 234
7.1 The Plan-Monitor-Control Cycle 234
Designing the Monitoring System 236
7.2 Data Collection and Reporting 237
Data Analysis 237
Reporting and Report Types 238
Meetings 240
Virtual Meetings, Reports, and Project Management 241
7.3 Earned Value 242
7.4 Project Control 249
Purposes of Control 249
7.5 Designing the Control System 251
Types of Control Systems 252
Tools for Control 254
Burnup and Burndown Charts 257
7.6 Scope Creep and Change Control 257
Review Questions 259
Discussion Questions 260
Exercises 260
Incidents for Discussion 261
Case: Friendly Assisted Living Facility Case-7 263
Friendly Assisted Living Facility Construction coordination meeting 4/11/X8 ACTION ITEM LIST 265
Case: Palmstar Enterprises, Inc. 266
Case: Peak Lighting, Inc. 266
Bibliography 267
8 EVALUATING AND CLOSING THE PROJECT 269
8.1 Evaluation 269
Evaluation Criteria 270
Measurement 271
8.2 Project Auditing 272
The Audit Process 272
The Audit Report 274
8.3 Project Closure 277
When to Close a Project 277
Types of Project Closure 278
The Closure Process 279
The Project Final Report 281
Review Questions 283
Discussion Questions 283
Incidents for Discussion 284
Case: Friendly Assisted Living Facility Case-8 284
Case: Datatech 287
Case: Ivory Tower Systems 288
Bibliography 290
APPENDIX: PROBABILITY AND STATISTIC 291
A.1 Probability 291
Subjective Probability 292
Logical Probability 292
Experimental Probability 292
A.2 Event Relationships and Probability Laws 292
The Multiplication Rule 293
The Addition Rule 294
A.3 Statistics 294
Descriptive versus Inferential Statistics 295
Measures of Central Tendency 296
Measures of Dispersion 297
Inferential Statistics 298
Standard Probability Distributions 299
Bibliography 300
Index 301