Mastering Project Uncertainty


Book Description

Uncertainty permeates every thinkable aspect of project work and mastering information awareness and availability is the key to controlling benefits, budgets, and timelines. This book offers a theoretical framework and practical guidelines to systematically minimize uncertainty, thereby increasing the chances of project success. To paraphrase Henry Ford, transitioning from traditional risk management to mastering project uncertainty implies abandoning the quest for faster horses in favor of driving cars toward your project’s destination. This book presents the road map to this transition, with Part I providing a theoretical foundation for uncertainty management using systems thinking. Part II introduces strategies supported by practical techniques to master uncertainty through: 1. Raising information awareness 2. Increasing information availability 3. Improving the effective use of information 4. Maximizing information efficiency. This book’s combined theoretical and highly practical approach, is essential reading for scholars, academics, business leaders, project managers, strategists, and policymakers to bring the organization’s vision for a sustainable future to life.




Mastering Project Management


Book Description

In today's rapidly evolving professional landscape, mastering project management is paramount to achieving success. This book will meet the demand for a comprehensive resource that supports practical application and facilitates exam readiness. Tailored for current and aspiring project managers across various industries and disciplines, it equips readers with transferable skills applicable worldwide. Embracing a holistic approach, the book delves into essential technical and managerial processes, fostering proficiency in management and leadership skills. Moreover, it serves as a valuable guide for navigating challenging certification exams like the PMP. The content is presented concisely, minimizing the need for frequent glossary references, and includes practical tips for addressing complex questions. Designed to facilitate efficient study, the book utilizes concise table formats and promotes SMART learning techniques. Grounded in the PMBOK Guide and enriched with Agile principles, it offers a comprehensive yet succinct exploration of crucial topics. May this book serve as a trusted companion on your journey to professional excellence–empowering you to achieve your goals with clarity, agility, and unwavering determination.




Mastering Uncertainty in Mechanical Engineering


Book Description

This open access book reports on innovative methods, technologies and strategies for mastering uncertainty in technical systems. Despite the fact that current research on uncertainty is mainly focusing on uncertainty quantification and analysis, this book gives emphasis to innovative ways to master uncertainty in engineering design, production and product usage alike. It gathers authoritative contributions by more than 30 scientists reporting on years of research in the areas of engineering, applied mathematics and law, thus offering a timely, comprehensive and multidisciplinary account of theories and methods for quantifying data, model and structural uncertainty, and of fundamental strategies for mastering uncertainty. It covers key concepts such as robustness, flexibility and resilience in detail. All the described methods, technologies and strategies have been validated with the help of three technical systems, i.e. the Modular Active Spring-Damper System, the Active Air Spring and the 3D Servo Press, which have been in turn developed and tested during more than ten years of cooperative research. Overall, this book offers a timely, practice-oriented reference guide to graduate students, researchers and professionals dealing with uncertainty in the broad field of mechanical engineering.




Mastering Risk Modelling


Book Description

Risk modeling is now a core skill for successful managers inside and outside finance. Alastair Day's "Mastering Risk Modelling" shows managers exactly how to build Excel-based models for identifying, quantifying and managing risk--models that provide clear, accurate decision-making guidance that can be used with confidence throughout the enterprise. An ideal follow-up to Day's bestselling "Mastering Financial Modelling," the book brings together risk modeling theory and practice more effectively than ever before. Day presents extensive tips and methods for developing Excel-based risk applications--including practical guidance on designing models and layering complexity on top of basic models. His series of Excel templates will jumpstart your own modeling, eliminate the need to start from scratch, and provide powerful insights for improving any model. All models are provided on an accompanying CD-ROM.




Mastering Project Discovery


Book Description

Introducing a comprehensive approach to invigorate project leadership, this book provides a framework – the OUtCoMES Cycle – for developing, managing, advancing, and optimizing engineering and analytics projects. All too often, issues of moral hazard and completion bias prevent engineering and analytics managers and team leaders from asking the critical question 'What’s the problem?', before committing time, energy, and resources to solve it. This book draws attention to the definition, structuring, option consideration and ultimately the addressing of the right problems, exploring the OUtCoMES Cycle framework that facilitates and energizes systematic thinking, knowledge sharing, and on-the-fly adjustment with an explicit focus on the maximization of value and ROI. Each chapter includes discussions and lessons in analytical and engineering problem identification, problem structuring, iterative problem development (mental and computational) and problem resolution, at least three embedded real-world case studies, and a closing 'Practitioner’s Recap' to contextualize key chapter takeaways. Written by a team of established academic scholars and practicing analysts and engineers, this is an accessible and culture-shifting action guide for instructors interested in training the next generation of project and analytics leaders, students of analytics and engineering, as well as practicing project leaders and principals.




Mastering Project Portfolio Management


Book Description

This unique text provides a holistic systems approach to project portfolio management which includes people, processes, tools, and techniques that work synergistically to produce portfolio decisions with the best chance of success. Accompanied by decision support software and advanced decision making techniques, it guides readers step-by-step through the entire project portfolio management process. This professional guide is also ideal for executive continuing education programs, and as a primary text for graduate level academic courses.




Mastering Project Leadership


Book Description

This is a collection of essays from key researchers in the field of project management who describe what they feel are the most impactful findings from research. In the challenging and competitive world of project management, project managers need all the insight they can get. Leading researchers share what they believe are the most important findings from the research being done today. These cover pressing topics confronting project managers, including hybrid methodologies, schedule overruns, schedule estimation, project efficiency, and managing local stakeholders. Highlights include the following: Jeff Pinto and Kate Davis explore the “Normalization of Deviance” (NoD) phenomenon within various organizational settings, focusing on projects. NoD involves the gradual acceptance of deviant practices, diverging from established norms, and often leading to detrimental outcomes. Francesco Di Maddaloni investigates how local communities’ stakeholders are perceived, identified, and categorized by project managers in major public infrastructure and construction projects (MPIC). His chapter helps project managers to have a better understanding of a more inclusive and holistic approach to engage with a broader range of stakeholders. Lavagnon Ika, Peter Love, and Jeff Pinto suggest that error and bias combine to exact a toll on major projects, offer theoretical insights, and outline practical recommendations for project managers. Jonas Söderlund offers managerial guidelines for leveraging deadlines as powerful tools for generating project success. Pedro M. Serrado looks at empirical studies that link planning quality to project success, emphasizing its importance. He also discusses the downsides of excessive planning, particularly in dynamic environments and research and development projects.




Mastering Project Management Strategy and Processes


Book Description

Mastering Project Management Strategy and Processes gives managers powerful insights and tools for structuring and managing any project based on business strategy and how that project will be used. Starting with project objectives, it demonstrates how to establish processes that optimally group actions at each stage of the project lifecycle - thereby maximizing the likelihood of success. This bookis part of a new series of six cutting-edge project management guides for both working practitioners and students. Like all books in this series, it offers deep practical insight into the successful design, management, and control of complex modern projects. Using real case studies and proven applications, expert authors show how multiple functions and disciplines can and must be integrated to achieve a successful outcome. Individually, these books focus on realistic, actionable solutions, not theory. Together, they provide comprehensive guidance for working project managers at all levels, as well as indispensable knowledge for anyone pursuing professional certification or other accreditation in the field.




Risk, Uncertainty and Profit


Book Description

A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.




Mastering Project Finance A Comprehensive Guide for Professionals


Book Description

The book titled “Mastering Project Finance: A Comprehensive Guide for Professionals” delves into the specialized field of project finance modeling. Unlike traditional corporate finance, which considers the creditworthiness of an entire company, project finance focuses on the standalone financials of specific ventures. The book covers essential components such as revenue projections, operating expenses, financing structures, taxation, and cash flow analysis. It serves as a valuable resource for professionals seeking to assess the financial viability and risk profiles of complex infrastructure and investment projects.