... institutions. In their study White & Fortune (2002) examined the current project
management practice in public sector in UK by collecting data from 236 project managers in some public
institutions. ... the phases of the project life cycle”. It is also regarded as a system or process of
planning, designing, scheduling, managing and controlling interconnected project activities in order to achieve ... projectmanagement concepts and
methods will help in avoiding project failure, continuous communication and the definition of project control
system. They however stated that, project management...
... project management
training and consulting firm based in Seattle, Washington. His company trains
thousands of professionals every year in the proven principles of project man-
agement including ... why projectmanagement is a strategic ca-
pability and what firms are doing to leverage projectmanagement techniques.
THE PROJECTMANAGEMENT DISCIPLINE
The basis of understanding projectmanagement ... FOR
PROJECT
MANAGEMENT
Modern projectmanagement has been in use since the early 1950s, yet
it experienced explosive growth during the 1990s. Firmsin every sector
of the economy, including nonprofit...
... Understanding Project
Management 6
Downloadable Forms for ProjectManagement 6
Project Management: Art Informed by Science 7
Project Management Magnifies Other Strengths 9
End Point 10
CHAPTER 2—THE PROJECT ... contain multiple
projects and that each one needs to be managed as a complete project
is one of the keys to success inproject management.
ORGANIZING FOR PROJECTS
Certain firms perform nothing ... Genuine !
vii
CONTENTS
PREFACE
xiii
PART 1
INTRODUCTION
CHAPTER 1 PROJECTMANAGEMENTIN
A CHANGING WORLD
2
Introduction 2
Project Management Is the New Critical Career Skill 3
The Increasing...
... joint ventures among design, construction and investment firms are sometimes
referred to as financial engineering.
This type of joint venture has become more important in the international construction ... design are often innovative in planning and
management since both types of activities involve problem solving. In fact, they can reinforce each
other if both are included in the education process, ... by traditional firms.
Of course, U.S. firms including A/E firms, contractors and construction managers are also competing
in foreign countries. Their success or failure in the international...
... accomplished. According to the ProjectManagement Institute, the discipline of project
management can be defined as follows: [1]
Project management is the art of directing and coordinating human and ... Organizing for ProjectManagement
2.1 What is Project Management?
The management of construction projects requires knowledge of modern management as well as an
understanding of the design and construction ... participants.
The ProjectManagement Institute focuses on nine distinct areas requiring project manager knowledge
and attention:
1. Project integration management to ensure that the various project elements...
... parties in the project to understand
what is needed and to work towards meeting those needs.
Example 3-14: The Project Definition Rating Index (PDRI) for Building Projects The
Construction Industry ... shown in Figure 3-11 was in excess of $ 4 million in
1978.
3.9 Value Engineering
Value engineering may be broadly defined as an organized approach in identifying unnecessary costs
in design ... Building Rating System is
intended to promote voluntary improvements in design and construction practices. In the rating system,
buildings receive points for a variety of aspects, including...
... project with the introduction of improved
inventory management, representing a savings of $ 92,000. Interest charges for inventory also
declined, with one project reporting a cash flow savings ... materials
management.
Against these various benefits, the costs of acquiring and maintaining a materials management system
has to be compared. However, management studies suggest that investment in ... reductions in waiting time and the maximum queue
length. Such increases might be obtained by speeding up the service rate such as introducing shorter
inspection procedures or installing faster...
... reflect the price changes of construction
output including all pertinent factors in the construction process. The building construction output
indices compiled by Turner Construction Company and ... Department of
Labor. In addition, the construction cost index and the building cost index are reported periodically in
the Engineering News-Record (ENR). Both ENR cost indices measure the effects ... following basis:
1. The installation cost for equipment was based on linear interpolation from Table 5-12, and
adjusted for inflation for the intervening four years. We expect inflation in the...
... the operating
and financing processes. Financing alternatives are sometimes not examined at all since a single
mechanism is universally adopted. An example of a single financing plan in the public ... financial analysis is increasing
with the increase of private ownership and private participation in the financing of public projects. The
availability of a broad spectrum of new financing instruments ...
economic or operating cash flow (assuming equity financing) and the financial cash flow over the
planning horizon.
Back to top
6.11 Combined Effects of Operating and Financing Cash Flows
A...
... security interests, different currency denominations, and, of course, different interest rates.
Grouping projects together for financing influences the type of financing that might be obtained. ... the combined cash flow discounted at 15% is $27,679 as shown in
Table 7-7. Hence, the project including the financing charges is worthwhile.
TABLE 7-7 Evaluation of Facility Financing Using Overdraft ... financing plans, with
occasional references to the combined effects of operating and financing cash flows. In all discussions,
we shall present various financing schemes with examples limiting...
... who reports to project manager or deputy project manger.
The management of the company including the 4 issues: planning, organizing, leading and
controlling is as followed:
Planning
The contractor ... Vietnamese side includes ProjectManagement Unit (representing Investor), Consultant
(responsible for supervising the project) and sub contractors (responsible for carrying out each
construction ... achieve building and construction visions by
systematizing and combining knowledge and craftsmanship. The company acts according to its
six values: Customer-minded; Value-adding; Innovative;...
... a projectmanagement training and consulting company
with headquarters in Cincinnati, Ohio. They are also the authors
of the ProjectManagement Memory Jogger™, a best-selling pocket guide
to project ... within the project management
process. These four phases are done in sequence, starting with initia-
tion and ending with close out.
Initiation
The first phase, initiation, begins after the project ... project management, and columnists for the ProjectManagement In-
stitute’s magazine, PM Network.
MartinTate is the leading provider of team-based, project manage-
ment training. Their clients include...
... Aided Engineering in the Construction Industry
(Reprinted with permission from from Y. Ohaski and M. Mukimo, "Computer-Aided Engineering
in the Construction Industry," Engineering with ...
Example 14-7: Final Cost Estimation, Scheduling and Monitoring
Many firms maintain essentially independent systems for final cost estimation and project activity
scheduling and monitoring. As a ... would be appropriate for maintaining activity scheduling
information during project monitoring. Be explicit about what relations would be defined, the
attributes in each relation, and allowable...
... of practicing projectmanagement at a global level. Best
practices inproject management, if followed, increase the chances of success in
achieving goals when dealing with projects.
In this ... resource is spent reinventing the wheel (Ford, 2008, pp. 31).
Best practices inprojectmanagement bring the benefit of saving time and money
in dealing with projects, goals that all project based ... techniques to
project activities. Projectmanagement is accomplished through the application and
integration of the projectmanagement processes of initiating, planning, executing,
monitoring and...
... Groups into nine Knowledge Areas. These areas are: Project
Integration Management, Project Scope Management, Project Time Management, Project Cost
Management, Project Quality Management, Project ... Management, Project
Communications Management, Project Risk Management, and Project Procurement
Management (Project Management Institute, 2004, pp. 9–10). In this case study, the Project
Management ...
approach, preliminary engineering, and preliminary design. It covers project organizing,
planning, scheduling, estimating, and budgeting. It addresses development of plans for various
project parameters,...