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| decision tree analysis in project management: Decision Analysis in Projects John R. Schuyler, 1996 |
| decision tree analysis in project management: Decision Trees for Decision Making John F. Magee, 1964 |
| decision tree analysis in project management: Confronting Climate Uncertainty in Water Resources Planning and Project Design Patrick A. Ray, Casey M. Brown, 2015-08-20 Confronting Climate Uncertainty in Water Resources Planning and Project Design describes an approach to facing two fundamental and unavoidable issues brought about by climate change uncertainty in water resources planning and project design. The first is a risk assessment problem. The second relates to risk management. This book provides background on the risks relevant in water systems planning, the different approaches to scenario definition in water system planning, and an introduction to the decision-scaling methodology upon which the decision tree is based. The decision tree is described as a scientifically defensible, repeatable, direct and clear method for demonstrating the robustness of a project to climate change. While applicable to all water resources projects, it allocates effort to projects in a way that is consistent with their potential sensitivity to climate risk. The process was designed to be hierarchical, with different stages or phases of analysis triggered based on the findings of the previous phase. An application example is provided followed by a descriptions of some of the tools available for decision making under uncertainty and methods available for climate risk management. The tool was designed for the World Bank but can be applicable in other scenarios where similar challenges arise. |
| decision tree analysis in project management: Ethnographic Decision Tree Modeling Christina H. Gladwin, 1989-09 Why do people in a certain group behave the way they do? And, more importantly, what specific criteria was used by the group in question? This book presents a method for answering these questions. |
| decision tree analysis in project management: Real World Project Management Richard Perrin, 2008-03-31 If you're a project manager, you need this guide to fill in the gaps in the PM canon. The Project Management Institute's Body of Knowledge, fails to fully explain certain PM tools and how they work, among other failures. Real-World Project Management fills in those major gaps with irreverence, wit, and wisdom. For any kind of project you’re managing, this book presents the high-quality tools and tactics you need to succeed. |
| decision tree analysis in project management: Risk and Decision Analysis in Projects John R. Schuyler, 2018-08-21 Decision analysis (DA) guides executives toward logical, consistent decisions under uncertainty. This book instructs readers in applying DA to feasibility analysis, project estimation, and project risk management.This is a wholly rewritten and expanded successor to the best-selling first and second editions.The entire investment lifecycle is covered, from conception, to the project plan, to the post-project review, and to a look-back analysis of the capital investment decision.DA applies to all manner of project management (PM) decisions for individuals, government, and non-profit organizations. The book uses a business investment perspective and assumes that maximizing value for the project owner is the objective.DA is a problem-solving process. There are four key features: 1) probabilities and probability distributions express best judgments about risks and uncertainties. 2) The organization has a decision policy expressed as a single metric (the objective function). 3) Probabilities and outcome values combine in the probability-weighting expected value calculation. 4) The organization as a policy to choose the best expected value alternative.This book aims to make decision making clear, simple, and logical. A clear decision policy can be elusive, and the author offers suggestions for making trade-offs among conflicting objectives. Converting the three pillars of project management (cost, schedule, and performance) into project value equivalents makes the trade-offs clear.This book is intended for serious PM students and practitioners. This is an essential concepts and how-to book. The scope is quantitative analysis, from project inception to post-project review. Project cost and schedule modeling, in modest detail, is essential to feasibility analysis and risk management. A general background in PM and corporate planning will be helpful. The methods are quantitative and straightforward. The reader should be comfortable with basic algebra and Microsoft(r) Excel(r).The book has eight pages of Suggested Reading annotated references (plus footnote additions), over 250 figures, approximately 600 Glossary definitions, and over 2400 Index entries. Online supplements include several whitepapers and other documents, example calculation spreadsheets, detailed color images of several important figures, four videos (including a critical chain simulation), and the Utility Elicitation Program (a web app, free for most users).Key topics include: Decision trees and Monte Carlo simulation for calculating outcome distributions and expected values * Probability concepts, including Bayes' rule for value of information analysis * Popular probability distribution types and when they apply * Eliciting expert judgments, with attention to potential cognitive and motivational biases * Recognizing the three pillars project in terms of project value * A 10-step decision analysis process * Project modeling concepts and techniques, with special attention to risk drivers and other correlations * Deterministic and stochastic sensitivity analysis * Decision policy that distinguishes objectives, time value, and risk attitude * @RISK(r) with Microsoft(r) Project for project simulations under uncertainty * Logical, consistent risk policy expressed as a utility function * Merge bias when task chains converge at a merge point * Tail estimate bias when estimating highly uncertain quantities * Optimizer's curse, a portfolio forecasting bias * Winner's curse, a bias characteristic of auctions * Using the best of critical chain and Monte Carlo simulation * Stochastic variance between a deterministic and a stochastic model * Modeling risk and uncertainty using probabilities, probability distributions, explicit formula relationships, correlation coefficients, risk drivers, conditional branching, and rework cycles. |
| decision tree analysis in project management: Statistics and Probability Theory Michael Havbro Faber, 2012-03-26 This book provides the reader with the basic skills and tools of statistics and probability in the context of engineering modeling and analysis. The emphasis is on the application and the reasoning behind the application of these skills and tools for the purpose of enhancing decision making in engineering. The purpose of the book is to ensure that the reader will acquire the required theoretical basis and technical skills such as to feel comfortable with the theory of basic statistics and probability. Moreover, in this book, as opposed to many standard books on the same subject, the perspective is to focus on the use of the theory for the purpose of engineering model building and decision making. This work is suitable for readers with little or no prior knowledge on the subject of statistics and probability. |
| decision tree analysis in project management: Quantitative Risk Management and Decision Making in Construction Amarjit Singh, 2017 Singh introduces valuable techniques for weighing and evaluating alternatives in decision making with a focus on risk analysis for identifying, quantifying, and mitigating risks associated with construction projects. |
| decision tree analysis in project management: PMP Project Management Professional Exam Study Guide Kim Heldman, Claudia M. Baca, Patti M. Jansen, 2007-07-30 Get the most comprehensive PMP® Exam study package on the market! Prepare for the demanding PMP certification exam with this Deluxe Edition of our PMP: Project Management Professional Exam Study Guide, Fourth Edition. Featuring a bonus workbook with over 200 extra pages of exercises, this edition also includes six practice exams, over two hours of audio on CD to help you review, additional coverage for the CAPM® (Certified Associate in Project Management) exam, and much more. Full coverage of all exam objectives in a systematic approach, so you can be confident you're getting the instruction you need for the exam Bonus workbook section with over 200 pages of exercises to help you master essential charting and diagramming skills Practical hands-on exercises to reinforce critical skills Real-world scenarios that put what you've learned in the context of actual job roles Challenging review questions in each chapter to prepare you for exam day Exam Essentials, a key feature in each chapter that identifies critical areas you must become proficient in before taking the exam A handy tear card that maps every official exam objective to the corresponding chapter in the book, so you can track your exam prep objective by objective On the accompanying CD you'll find: Sybex test engine: Test your knowledge with advanced testing software. Includes all chapter review questions and bonus exams. Electronic flashcards: Reinforce your understanding with flashcards that can run on your PC, Pocket PC, or Palm handheld. Audio instruction: Fine-tune your project management skills with more than two hours of audio instruction from author Kim Heldman. Searchable and printable PDF of the entire book. Now you can study anywhere, any time, and approach the exam with confidence. |
| decision tree analysis in project management: Project Management Paul Gardiner, 2017-09-16 Project Management is designed to appeal to undergraduate and postgraduate students studying project management on a business degree. It provides a comprehensive overview of project management practice, while carefully balancing the unique aspects of project management curricula with the more general business skills, including quality, risk, teams, and leadership. The text includes a wide range of cases to connect the academic principles and the complexity of real-life projects. The text is also supported by web-based multiple choice questions, as well as in-text exercises and examples to illustrate the concepts and ideas throughout the book. |
| decision tree analysis in project management: Risk and Decision Analysis in Projects John R. Schuyler, 2001 Some of Schuyler's tried-and-true tips include: - The single-point estimate is almost always wrong, so that it is always better to express judgments as ranges. A probability distribution completely expresses someone's judgment about the likelihood of values within the range.- We often need a single-value cost or other assessment, and the expected value (mean) of the distribution is the only unbiased predictor. Expected value is the probability-weighted average, and this statistical idea is the cornerstone of decision analysis.- Some decisions are easy, perhaps aided by quick decision tree calculations on the back of an envelope. Decision dilemmas typically involve risky outcomes, many factors, and the best alternatives having comparable value. We only need analysis sufficient to confidently identify the best alternative. As soon as you know what to do, stop the analysis!- Be alert to ways to beneficially change project risks. We can often eliminate, avoid, transfer, or mitigate threats in some way. Get to know the people who make their living helping managers sidestep risk. They include insurance agents, partners, turnkey contractors, accountants, trainers, and safety personnel. |
| decision tree analysis in project management: ProjectThink Lev Virine, Michael Trumper, 2016-04-15 Projects are constantly beset by problems, often caused by seemingly small mistakes which collectively lead to larger issues. Why do project managers and teams appear to repeat the same mistakes? Can they make better choices without introducing complex decision analysis processes? How can they make better estimates? Project management is the art and science of human interactions. ProjectThink identifies and explains the paths of those intentional and unintentional actions that lead to trouble. It provides advice and guidance in analysing information and risk and explains how ’choice-engineering’ can facilitate decision-making and encourage everyone involved in a project to follow the right procedures and work collaboratively. |
| decision tree analysis in project management: Lean CX Robert Dew, Bill Russell, Cyrus Allen, George Bej, 2021-04-06 In recent years, many companies have realised customer experience (CX) is the new marketing battle ground. Substantial investments have been made to map customer journeys, identify pain points and improve CX to try and create cut-through. Using real world applications to introduce next generation design tools based on proven concepts from strategy, marketing, psychology and creative problem solving, Lean CX: How to Differentiate at Low Cost and Least Risk discusses how to use Lean Management approaches to innovate your customer experience. This practical book describes how the tools from Lean Management can be applied to the CX innovation problem. The authors draw on hundreds of CX design and strategic innovation projects across a range of industries, both B2B and B2C, from primary research through client work and secondary case studies available in the public domain. The examples include many different vertical industry sectors, including those involving hybrid business models. The cases included share what worked really well and where CX failed. The content goes beyond what actually happened to present an idea of what might be possible with the right design approach and committed resources. |
| decision tree analysis in project management: Portfolio Decision Analysis Ahti Salo, Jeffrey Keisler, Alec Morton, 2011-08-12 Portfolio Decision Analysis: Improved Methods for Resource Allocation provides an extensive, up-to-date coverage of decision analytic methods which help firms and public organizations allocate resources to 'lumpy' investment opportunities while explicitly recognizing relevant financial and non-financial evaluation criteria and the presence of alternative investment opportunities. In particular, it discusses the evolution of these methods, presents new methodological advances and illustrates their use across several application domains. The book offers a many-faceted treatment of portfolio decision analysis (PDA). Among other things, it (i) synthesizes the state-of-play in PDA, (ii) describes novel methodologies, (iii) fosters the deployment of these methodologies, and (iv) contributes to the strengthening of research on PDA. Portfolio problems are widely regarded as the single most important application context of decision analysis, and, with its extensive and unique coverage of these problems, this book is a much-needed addition to the literature. The book also presents innovative treatments of new methodological approaches and their uses in applications. The intended audience consists of practitioners and researchers who wish to gain a good understanding of portfolio decision analysis and insights into how PDA methods can be leveraged in different application contexts. The book can also be employed in courses at the post-graduate level. |
| decision tree analysis in project management: The Lean CX Score David McLachlan, 2017-09-11 The Lean CX Score is a brand new repeatable framework to help you create disruptive products and services. |
| decision tree analysis in project management: PROJECT MANAGEMENT Dr. Sanjay Kumar, Anisha Deshwal, 2024-02-01 Buy PROJECT MANAGEMENT e-Book for BBA 6th Semester Common Minimum Syllabus as per NEP for all UP State Universities By Thakur publication. |
| decision tree analysis in project management: PMP: Project Management Professional Study Guide Kim Heldman, 2006-07-14 Whether you're a current project manager seeking to validate the skills and knowledge acquired through years of practical experience or a newcomer to the PM field looking to strengthen your resume, the PMP® certification from the Project Management Institute (PMI®) provides you with the means to do so. This updated edition of the best-selling PMP®: Project Management Professional Study Guide was developed to help you prepare for this challenging exam, and includes additional study tools designed to reinforce understanding of critical subject areas. Key Topics Include: Project Initiation. Determining project goals, identifying constraints and assumptions, defining strategies, producing documentation. Project Planning. Refining a project, creating a WBS, developing a resource management plan, establishing controls, obtaining approval. Project Execution. Committing and implementing resources, managing and communicating progress, implementing quality assurance procedures. Project Control. Measuring Performance, taking corrective action, ensuring compliance, reassessing control plans, responding to risk event triggers. Project Closing. Documenting lessons learned, facilitating closure, preserving records and tools, releasing resources. Professional Responsibility. Ensuring integrity, contributing to knowledge base, balancing stakeholder interests, respecting differences. Note:CD-ROM/DVD and other supplementary materials are not included as part of eBook file. (PMI, PMP and Project Management Professional are registered marks of the Project Management Institute, Inc.) |
| decision tree analysis in project management: Project Risk Analysis and Management Guide John Bartlett, 2004 The second edition of the Project Risk Analysis and Management Guide maintains the flavour of the original and the qualities that made the first edition so successful. The new edition includes: The latest practices and approaches to risk management in projects; Coverage of project risk in its broadest sense, as well as individual risk events; The use of risk management to address opportunities (uncertain events with a positive effect on the project's objectives); A comprehensive description of the tools and techniques required; New material on the human factors, organisational issues and the requirements of corporate governance; New chapters on the benefits and also behavioural issues |
| decision tree analysis in project management: Data Mining with Decision Trees Lior Rokach, Oded Z. Maimon, 2008 This is the first comprehensive book dedicated entirely to the field of decision trees in data mining and covers all aspects of this important technique.Decision trees have become one of the most powerful and popular approaches in knowledge discovery and data mining, the science and technology of exploring large and complex bodies of data in order to discover useful patterns. The area is of great importance because it enables modeling and knowledge extraction from the abundance of data available. Both theoreticians and practitioners are continually seeking techniques to make the process more efficient, cost-effective and accurate. Decision trees, originally implemented in decision theory and statistics, are highly effective tools in other areas such as data mining, text mining, information extraction, machine learning, and pattern recognition. This book invites readers to explore the many benefits in data mining that decision trees offer: Self-explanatory and easy to follow when compacted Able to handle a variety of input data: nominal, numeric and textual Able to process datasets that may have errors or missing values High predictive performance for a relatively small computational effort Available in many data mining packages over a variety of platforms Useful for various tasks, such as classification, regression, clustering and feature selection |
| decision tree analysis in project management: Project Management Theory and Practice, Second Edition Gary L. Richardson, 2014-10-29 Updated to reflect the Project Management Institute’s (PMI’s) Project Management Body of Knowledge (PMBOK® Guide), Fifth Edition, the new edition of this bestselling textbook continues to provide a practical and up-to-date overview of project management theory. Project Management Theory and Practice, Second Edition explains project management theory using language that is easy to understand. The book integrates the organizational environment that surrounds a project to supply the well-rounded knowledge of theories, organizational issues, and human behavior needed to manage real-world projects effectively. This edition includes a new chapter on Stakeholder Management, which is a new knowledge area covered in the new PMBOK® Guide. It also provides updated references and a new streamlined organization of chapters. There are several project-related model frameworks sponsored by PMI®, and many of these are covered in this text. Specifically, the book details: Work breakdown structures (WBS) Earned value management (EVM) Enterprise project management (EPMO) Portfolio management (PPM) Professional responsibility and ethics For many of the major sections, the PMI Global Accreditation curriculum learning objectives have been adapted with permission of PMI and used to guide the content. Filled with end-of-chapter questions, scheduling and budgeting problems, and scoping projects, this text is ideal for classroom use and essential reading for anyone seeking project management certification. The book also includes sample empirically oriented worksheets that demonstrate various management decision and analysis-oriented tools. |
| decision tree analysis in project management: Identifying and Managing Project Risk Tom Kendrick, 2009-02-27 Winner of the Project Management Institute’s David I. Cleland Project Management Literature Award 2010 It’s no wonder that project managers spend so much time focusing their attention on risk identification. Important projects tend to be time constrained, pose huge technical challenges, and suffer from a lack of adequate resources. Identifying and Managing Project Risk, now updated and consistent with the very latest Project Management Body of Knowledge (PMBOK)® Guide, takes readers through every phase of a project, showing them how to consider the possible risks involved at every point in the process. Drawing on real-world situations and hundreds of examples, the book outlines proven methods, demonstrating key ideas for project risk planning and showing how to use high-level risk assessment tools. Analyzing aspects such as available resources, project scope, and scheduling, this new edition also explores the growing area of Enterprise Risk Management. Comprehensive and completely up-to-date, this book helps readers determine risk factors thoroughly and decisively...before a project gets derailed. |
| decision tree analysis in project management: Mastering Risk and Procurement in Project Management Randal Wilson, 2015 Effective risk management and procurement are crucial to project success. Unfortunately, many managers have spent relatively little time mastering these essential elements of the project management discipline, and many books on the subject treat these issues only lightly, if at all. In Mastering Risk and Procurement in Project Management, expert project manager and seasoned professor Randal Wilson focuses specifically on these essential techniques. Wilson addresses every stage of the project where risk management and procurement are relevant, especially planning, monitoring, and control. Teaching through the use of relevant examples and case studies, Wilson explains why risk management and procurement are so important to project success, illuminates the deep linkages amongst these tasks, shows how to avoid common pitfalls, and introduces best practice methodologies for integrating them throughout your business processes. Drawing on his own extensive experience, he offers in-depth coverage of topics ranging from contracting and risk monitoring to project close-out, and gives readers practical knowledge of critical processes and tasks in project management. |
| decision tree analysis in project management: Presto Sketching Ben Crothers, 2017-10-19 Do you feel like your thoughts, ideas, and plans are being suffocated by a constant onslaught of information? Do you want to get those great ideas out of your head, onto the whiteboard and into everyone else’s heads, but find it hard to start? No matter what level of sketching you think you have, Presto Sketching will help you lift your game in visual thinking and visual communication. In this practical workbook, Ben Crothers provides loads of tips, templates, and exercises that help you develop your visual vocabulary and sketching skills to clearly express and communicate your ideas. Learn techniques like product sketching, storyboarding, journey mapping, and conceptual illustration. Dive into how to use a visual metaphor (with a library of 101 visual metaphors), as well as tips for capturing and sharing your sketches digitally, and developing your own style. Designers, product managers, trainers, and entrepreneurs will learn better ways to explore problems, explain concepts, and come up with well-defined ideas - and have fun doing it. |
| decision tree analysis in project management: Project Decisions, 2nd Edition Lev Virine, Michael Trumper, 2019-11-05 This new edition gives project managers practical methods and tools to make the right decisions while juggling multiple objectives, risks and uncertainties, and stakeholders. Project management requires you to navigate a maze of multiple and complex decisions that are an everyday part of the job. To be effective, you must know how to make rational choices with your projects, what processes can help to improve these choices, and what tools are available to help you with decision-making. An entertaining and easy-to-read guide to a structured project decision-making process, Project Decisions will help you identify risks and perform basic quantitative and qualitative risk and decision analyses. Lev Virine and Michael Trumper use their understanding of basic human psychology to show you how to use event chain methodology, establish creative business environments, and estimate project time and costs. Each phase of the process is described in detail, including a review of both its psychological aspects and quantitative methods. |
| decision tree analysis in project management: Project Decisions Lev Virine, Michael Trumper, 2007-10 Project management is the art of making the right decisions. To be effective as a project manager, you must know how to make rational choices in project management, what processes can help you to improve these choices, and what tools are available to help you through the decision-making process. Project Decisions: The Art and Science is an entertaining and easy-to-read guide to a structured project decision analysis process. This valuable text presents the basics of cognitive psychology and quantitative analysis methods to help project managers make better decisions. Examples that portray different projects, real-life stories, and popular culture will help readers acquire the essential knowledge and skills required for effective project decision-making. Readers will be able to: •Understand psychological pitfalls related to project management •Establish a creative business environment in their organization •Identify project risks and uncertainties •Develop estimates of project time and cost based on an understanding of human psychology •Perform basic quantitative and qualitative risk and decision analysis •Use event chain methodology in managing projects •Communicate the results of decision analysis to decision-makers •Review project decisions and perform adaptive project management •Establish a project decision analysis process in their organization PLUS — Test your own judgment through a quiz that examines your intuition! |
| decision tree analysis in project management: Project Management ToolBox Dragan Z. Milosevic, 2003-06-16 Provides a rare look at the situational framework used in building a project management toolbox. * Includes real-world examples of toolboxes used in a variety of project situations. * Bridges the gap between theoretical and applied project management. |
| decision tree analysis in project management: Project Management Theory and Practice Gary L. Richardson, 2010-01-20 Although there are numerous project management resources available, most are either too academic, focus too heavily on IT, or provide quick-fix advice without the theory required to understand why the solutions work. Following and expanding on PMI’s Project Management Body of Knowledge (PMBOK®), Project Management Theory and Practice provides students with a complete overview of project management theory—in language they can easily understand. This classroom-tested textbook translates the abstract model vocabulary and processes from A Guide to the Project Management Body of Knowledge (PMBOK® Guide), Fourth Edition into accessible discussions complete with contemporary views and projections for the future. The text integrates the organizational environment that surrounds a project to supply students with the well-rounded knowledge of theories, organizational issues, and human behavior needed to manage real-world projects effectively. Providing a clear picture of the state of the art in project management, it details numerous project-related frameworks, including: Enterprise project management Project portfolio management Work breakdown structures Earned value management Professional responsibility Project team productivity The text reaches beyond traditional core project management topics to include discussions on enterprise maturity, virtual and outsourced organizations, project management offices, operational governance, and multi-project management. Filled with numerous end-of-chapter questions, scheduling and budgeting problems, scoping projects, and sample worksheets that illustrate various analytical tools and management decisions, this is the ideal text for classroom use and essential reading for anyone seeking project management certification. |
| decision tree analysis in project management: Project Management Capability Assessment Peter T. Davis, Barry D. Lewis, 2018-09-13 Learn how to perform project management according to international standards of compliance using capability assessment processes. This book compares and contrasts the approach to project management using ISO 21500 against the more direct ISO 33000 Capability Assessment. It shows how to assess projects adequately for process improvement or how well an organization performs against a standard, measurable framework. Using ISO 21500 as the project management reference point and ISO 15504/33000 as the capability assessment reference, the book shows you how to assess whether your projects are being run according to a specific capability level or support them to reach higher levels of capability. |
| decision tree analysis in project management: AI-Driven Project Management Kristian Bainey, 2024-04-02 Accelerate your next project with artificial intelligence and ChatGPT In AI-Driven Project Management: Harnessing the Power of Artificial Intelligence and ChatGPT to Achieve Peak Productivity and Success, veteran IT and project management advisor Kristian Bainey delivers an insightful collection of strategies for automating the administration and management of projects. In the book, the author focuses on four key areas where project leaders can achieve improved results with AI's data-centric capabilities: minimizing surprises, minimizing bias, increasing standards, and accelerating decision making. You'll also find: Primers on the role of AI and ChatGPT in Agile, Hybrid, and Predictive approaches to project management How to accurately forecast a project with ChatGPT Techniques for crafting impactful AI strategy using AI project management principles Perfect for managers, executives, and business leaders everywhere, AI-Driven Project Management is also a must-read for project management professionals, tech professionals and enthusiasts, and anyone else interested in the intersection of artificial intelligence, machine learning, and project management. |
| decision tree analysis in project management: Project Management Workbook and PMP / CAPM Exam Study Guide Harold Kerzner, Frank P. Saladis, 2017-04-24 Sharpen your project management skills and prepare for the latest PMP®/CAPM® exam The Project Management Workbook and PMP/CAPM Exam Study Guide is a two-in-one resource for mastering the Project Management Body of Knowledge (PMBOK®). As the companion to Project Management: A Systems Approach to Planning, Scheduling, and Controlling, this book provides the opportunity to strengthen your understanding of project management in real-world application, with questions, problems, and cases designed to enhance your critical thinking skills. Functioning as a stand-alone study guide to the Project Management Professional (PMP) Certification Exam, this book helps you develop the critical skills of a successful project manager with questions that show you what to expect on exam day. Interesting, enjoyable, and thought-provoking, this workbook and study guide helps you dig into the PMBOK and gain the professional insights that come only from applying what you've learned. Reading the PMBOK doesn't fully prepare you to pass the PMP exam, let alone function as a project manager in the real world. Understanding how to apply the various methodologies is vital to your success, and this book gives you a wealth of guided practice to hone your skills in advance. Practice applying project management concepts Test your grasp of the PMBOK methodology Preview the PMP with simulated exam questions Enhance your critical thinking and project management skills The project manager's role is broad in scope and detailed in function. Don't try to memorize the PMBOK, internalize it; this approach gives you a ready body of knowledge available for recall as needed, and helps you become a more efficient, more effective project manager. Instinctive knowledge comes from copious practice, and the Project Management Workbook and PMP/CAPM Exam Study Guide is your ideal resource for developing your skills. (PMI, PMBOK, CAPM, PMP, and Project Management Professional are registered marks of the Project Management Institute, Inc.) |
| decision tree analysis in project management: COSO Enterprise Risk Management Robert R. Moeller, 2011-07-26 A fully updated, step-by-step guide for implementing COSO's Enterprise Risk Management COSO Enterprise Risk Management, Second Edition clearly enables organizations of all types and sizes to understand and better manage their risk environments and make better decisions through use of the COSO ERM framework. The Second Edition discusses the latest trends and pronouncements that have affected COSO ERM and explores new topics, including the PCAOB's release of AS5; ISACA's recently revised CobiT; and the recently released IIA Standards. Offers you expert advice on how to carry out internal control responsibilities more efficiently Updates you on the ins and outs of the COSO Report and its emergence as the new platform for understanding all aspects of risk in today's organization Shows you how an effective risk management program, following COSO ERM, can help your organization to better comply with the Sarbanes-Oxley Act Knowledgeably explains how to implement an effective ERM program Preparing professionals develop and follow an effective risk culture, COSO Enterprise Risk Management, Second Edition is the fully revised, invaluable working resource that will show you how to identify risks, avoid pitfalls within your corporation, and keep it moving ahead of the competition. |
| decision tree analysis in project management: Establishing a Performance Index for Construction Project Managers Virendra Kumar Paul, Sushil Kumar Solanki, Abhijit Rastogi, Parnika Singh Yadav, 2023-03-07 Assessment of professional competence for project managers and the measure of project success is well-trodden ground in the research and professional project management literature. Whilst standards and certifications like PMBOK and the IPMA competence baseline have been developed as a guide for the development of project managers’ competence, the manifestation of these competencies into good performance is neither guaranteed nor always easily ascertainable. This book presents a brand new, comprehensive, and reliable quantitative tool to assess the performance of a construction project manager. Though the performance of a project construction manager may be judged on time and cost criteria of a project, there is still no one conclusive evaluation tool based on the varied criteria or competencies that are usually ascribed to them. This book develops a performance index for construction project professionals which can be indicative of their performance measured over varied attributes over the lifetime of their professional development. This index has the potential to provide all project stakeholders with better control over selecting appropriate resources for managing projects and drive the project professional from within towards improving his/her credentials with every project. This book can be used by aspiring and practising project managers for measuring their own performance and assessing their relative strengths and weaknesses. Organizations can use the tool as a benchmark to select the best of their human resources for their projects, and training institutions can use the tool to set a baseline, highlight areas for intervention, and indicate the readiness of trainees to face real world projects. |
| decision tree analysis in project management: Methods of IT Project Management, Fourth Edition Jeffrey L. Brewer, Kevin C. Dittman, 2022-10-15 Designed for graduate, advanced undergraduate, and practitioner project management courses with an information technology focus, Methods of IT Project Management is designed around the Project Management Body of Knowledge (PMBOK), incorporating material from the latest seventh edition while still maintaining the book’s process approach. The text provides students with all the concepts, techniques, artifacts, and methods found in the leading project management reference books and modern development methodologies (agile, hybrid, and traditional), while also conveying practical knowledge that can immediately be applied in real-world settings. Unlike other books in this area, the material is organized according to the sequence of a generic project life cycle—from project selection to initiation, planning, execution, control, and iteration or project closeout. Following this life-cycle approach, as opposed to covering the material by knowledge area or project performance domain, allows new learners to simultaneously study project management concepts and methods as they develop skills they can use immediately during and upon completion of the course. The text’s structure also allows different programs to use the book during real-world student projects. |
| decision tree analysis in project management: Large-Scale Construction Project Management Yan Tan, 2020-04-02 A majority of large-scale construction and major infrastructure projects are funded by public funds from taxpayers. However, these projects are often subject to severe delays and cost overruns. Large-Scale Construction Project Management: Understanding Legal and Contract Requirements introduces integrated approaches to project management and control mechanisms to effectively manage large-scale construction projects. It explains the contractual requirements and associated legal principles under the latest edition of the leading standard forms of contracts, including FIDIC 2017, NEC4, and JCT 2016. It explains integrated project governance regarding time, cost, risk, change, contract management, and more. Further, it discusses the legal issues of scheduling delays and disruptions regarding the Delay and Disruption Protocol (Society of Construction Law) as well as Forensic Schedule Analysis guidance (American Association of Cost Engineering). Features: Provides strategies to effectively resolve disputes during construction projects Examines Quantitative Schedule Risk Analysis (QSRA) and Quantitative Cost Risk Analysis (QCRA) Introduces the most recent software and techniques used in managing large-scale construction projects This book serves as a useful resource for project control and management professionals, researchers in construction management and project management, and students in building construction management and project management. |
| decision tree analysis in project management: ProjectThink Lev Virine, Michael Trumper, 2016-04-15 Projects are constantly beset by problems, often caused by seemingly small mistakes which collectively lead to larger issues. Why do project managers and teams appear to repeat the same mistakes? Can they make better choices without introducing complex decision analysis processes? How can they make better estimates? Project management is the art and science of human interactions. ProjectThink identifies and explains the paths of those intentional and unintentional actions that lead to trouble. It provides advice and guidance in analysing information and risk and explains how ’choice-engineering’ can facilitate decision-making and encourage everyone involved in a project to follow the right procedures and work collaboratively. |
| decision tree analysis in project management: Project Management K. Nagarajan, 2004 The Book Is Primarily Intended To Serve As A Textbook For Undergraduate As Well As Postgraduate Students Of Management Studies. The Book Covers The Syllabus Prescribed By Most Universities/Institutes In India On The Subject Project Management . The Book Will Also Be Of Use To Commerce Students And For Students Of Professional Courses Like Aicwa, Aca And Cfa.All Aspects Of Projects, Viz., Project Identification, Project Appraisal, Project Planning And Scheduling, Project Implementation, Project Evaluation And Post Audit Of Projects Have Been Covered. The Book Also Touches Upon Finer And Practical Aspects Of Project Analysis And Implementation Which Will Be Of Great Use To Entrepreneurs.The Subject Matter Has Been Presented In A Simple And Lucid Form. Project Scheduling Techniques Have Been Explained In Detail With The Aid Of Graded Examples To Bring Home The Concepts Clearly. Though The Book Is Mainly Addressed To Students, It Will Be Equally Useful To Project Appraisers, Project Managers And Entrepreneurs As Well. |
| decision tree analysis in project management: PROJECT PLANNING APPRAISAL & CONTROL Dr. Sanjeev Bansal Dr. Ritu Wadhwa, 2020-09-01 Project Planning, Appraisal, and Control is an all-inclusive book intended to meet the necessities of postgraduate management students specializing in the area of finance. The purpose of this book is to acquaint readers with the theoretical and practical aspects of project management in an organization to maximize its value through various examples and revelations. This book makes the reader familiar with the objectives of project planning and various phases of projects. This book deals with the planning of the project with references to phases of capital budgeting and levels of decision making in an organization. It explains the various project charts and layout and also gives the details of the work schedules. It deals with the topic like project life cycle, project selection, feasibility study, and techniques like PERT and CPM. The techniques of project risk analysis and financial analysis have been discussed in detail with the help of sufficient numerical examples. It also contains the administrative aspects of capital budgeting and issues involved in project review. Most importantly the book includes several chapter-end problems and questions to test students’ understanding of the subject. The main thrust of the book has been to bring home the concept clearly in the minds of readers. |
| decision tree analysis in project management: Financial Management Sudhindra Bhat, 2008 Financial Management Principles and Practice, second edition is fundamentally designed to serve as an introduction to the study of Financial Management for students, Financial professionals, teachers and managers. The developments in the capital market and the new avenues available to tackle the traditional financial constraints have placed the present day finance manager in a situation to learn new skills and constantly update knowledge to take financial decision in a competitive environment, develop a familiarity with the analytical techniques and understand the theories of modern finance. Financial Management Principles and Practice is designed as a comprehensive and analytical treatise to fill the gaps. l The book seeks to build and develop familiarity with the analytical techniques in financial decision making in the competitive world. l This book covers the requirement for discussion to help Practitioners, managers, Financial professionals, academicians and students reason out Financial Management issues for themselves and thus be better prepared when making real-world investment decisions.l The book is structured in such a way that it can be used in both semester as well as trimester patterns of various MBA, M.Com, PGDM, PGP, PG Courses of all major universities, CA, CS, CFA, CWA, CPA of Professional and autonomous institutions.l It provides complete clarity in a simple style, which will help the students in easy understanding.l Discussion as well as mind stretching questions at the end of each chapter to stimulate financial decision making.l Concepts are explained with a number of illustrations and diagrams for clear understanding of subject matter. l The strong point of the book is its easy readability and clear explanation as well as extensive use of Case Study's and Project Works (more then 27 cases) which have been included in many chapters for Class discussion, EDP and FDP.DISTINCTIVE FEATURES OF THIS EDITION:v Provides complete clarity in a simple style v 628 Solved Problemsv 259 Unsolved Problemsv Seven new chapters included v 399 Review questions (theoretical questions)v 212 Fill in the blanks with answersv 101 True or false questions with answers v 26 case study's for class discussion v Discussion as well as mind stretching questions at the end of each chapter to stimulate financial decision making |
| decision tree analysis in project management: PMP: Project Management Professional Exam Review Guide Kim Heldman, Vanina Mangano, Brett J. Feddersen, 2018-01-17 Essential review for the PMP exam, updated for the new PMBOK® Guide, 6th edition The PMP Project Management Professional Exam Review Guide, Fourth Edition, offers complete, concise review of essential project management concepts and practices. Covering 100% of the PMP exam objectives, this book helps you ensure your full preparation in advance of the big day. This new 4th Edition has been updated to align with the newest version of the exam, featuring changes to PMP best practices, greater emphasis on Agile and other iterative processes, as well as the evolution of the project manager's role. Organized by domain area, this handy review guide covers project initiation, planning, execution, monitoring, and closing as detailed in the new A Guide to the Project Management Body of Knowledge (PMBOK® Guide), 6th Edition, giving you clear guidance on what you need to know for the exam. You also get a year of free access to the Sybex online interactive learning environment and study tools, which features flashcards, chapter tests, two bonus practice exams, and more. PMP candidates must have extensive project management experience before taking the exam, but you cannot rely on experience alone; the PMP exam tests your understanding of critical PMP concepts and practices as laid out in the PMBOK® Guide 6th Edition; this practical review condenses the PMBOK's essential details into quickly-digestible chapters that help you prepare more efficiently. Review 100% of the exam objectives Apply PMP concepts to real-world scenarios Identify areas in need of additional review Access practice exams, flashcards, and more The PMP certification puts you in demand, and can be a major boost to your career. Regardless of your current level of experience, exam success lies in complete and thorough preparation; the PMP Project Management Professional Exam Review Guide, Fourth Edition, is your ultimate key to confidence and success. To register for access to the online test banks included with the purchase of this book, please visit: www.wiley.com/go/sybextestprep. |
| decision tree analysis in project management: Project Management Leadership Rory Burke, Steve Barron, 2014-04-14 Project Management Leadership is a comprehensive guide to the human factors involved in Project Management, in particular the leadership skills required to ensure successful implementation of current best practice. It provides the latest insights on team building, motivation, collaboration, and networking skills, and the way these can be harnessed to manage a successful project. Exercises and worked examples are provided throughout. |
Project Analysis using Decision Trees and Options
Sensitivity Analysis examines the sensitivity of a decision rule (NPV, IRR, etc.) to changes in the assumptions underlying a project. Do a base case analysis, based on expectations about the …
Decision Analysis in Projects: Decision Trees - Western …
In this and the next installments, a more comprehensive decision tree model illus- trates the practice of decision analysis in project management. DECISION TREE CONSTRUCTION A …
Decision Tree Analysis for the Risk Averse Organization
This paper summarizes the traditional decision tree analysis based on expected monetary value (EMV) and contrasts that approach to the risk averse organization’s use of expected utility (E(U)).
Decision Trees, EMV and Thee - PM World Library
Decision Tree Analysis attempts to take the major risk factors into consideration ⎯ both negative and positive ⎯ into consideration in all options, depicting them in a complex multi-stage …
Four Ways to do Project Analysis Project Analysis / Decision …
decision he/she faces: • Regression / Statistical Forecasting is a way to estimate future sales growth based on current or past performances. • Sensitivity Analysis shows her how much …
Chapter 7 - Decision Tree analysis - burlingtonelectric.com
At a basic level, a decision tree is a diagram that represents the decisions to be made, external events that create project uncertainty and the range of plausible outcomes that flow
Project risk management using multiple criteria decision …
probability of occurrence of risk, risk map to determin impact, and decision tree analysis to objectively reveal measures for risk mitigation. The following paragraphs demonstrate the AHP …
Project Schedules and Decision Trees - Intaver
The PMBOK® Guide (Project Management Institute, 2004) recommends using decision trees as one of the quantitative risk tools for the analysis of different project alternatives. PMBOK® …
DECISION TREE TECHNIQUE – A USEFUL TOOL FOR THE …
Decision trees provide an effective method of Decision Making because they: ⇒ Clearly lay out the problem so that all options can be challenged; ⇒ Allow us to analyze fully the possible …
Decision Analysis in Projects: Monte Carlo Simulation
DECISION ANALYSIS IN PROJECTS 1. Expected Value—The Cornerstone. Representing a probability distribu- tion as an unbiased, single value. 2. Optimal Decision Policy. Appraising …
ROOT CAUSE ANALYSIS AND DECISION TREES TOOLS FOR …
STRUCTURE OF A DECISION TREE • Root Node: The starting point representing the initial decision or condition. • Branches: Represent options or actions from each node. • Internal …
Use Decision Trees to Make Important Project
We can illustrate decision tree analysis by considering a common decision faced on a project. We are the prime contractor and there is a penalty in our contract with the customer that depends …
Using Binomial Decision Trees and Real Options Theory to …
The traditional decision tree approach developed by Tan et al (2009) for linking to an SD model is based on transforming data generated by Monte Carlo simulations of the SD model of the …
Decision Analysis in Projects: Other Probabilistic Techniques
DECISION ANALYSIS IN PROJECTS 1. Expected Value—The Cornerstone. Representing a probability distribu-tion as an unbiased, single value. 2. Optimal Decision Policy. Appraising …
THE JOURNAL OF AACE®INTERNATIONAL - Project Risk
We can illustrate decision tree analysis by considering a common decision faced on a project. We are the prime contractor and there is a penalty in our contract with the customer that depends …
Project risk management using multiple criteria decision …
This study proposes an integrated analytical framework for effective management of project risks using combined multiple criteria decision-making technique and decision tree analysis.
Chapter 14 Decision Tree Analysis and Utility Theory - Springer
for the implementation of decision tree analysis are illustrated in the following two examples: Example 14.1: Investment decision tree. The company has an opportunity to invest in a project …
Decision Analysis in Projects:Utility and Multi-Criteria Decisions
Decision Analysis in Projects:Utility and Multi-Criteria Decisions. 22PM Network• April 1995. A discussion of how to structure decision policy when there are multiple project criteria, …
Decision Analysis in Products: Value of Information
Concerns of Project Managers Editor’s Note: This is fourth in a series of articles de-scribing decision analysis in projects. In the last article, we introduced decision tree analysis, a popular …
Use Decision Trees to Make Important Project Decisions
We can illustrate decision tree analysis by considering a common decision faced on a project. We are the prime contractor and there is a penalty in our contract with the main client for every …
Project Analysis using Decision Trees and Options
Sensitivity Analysis examines the sensitivity of a decision rule (NPV, IRR, etc.) to changes in the assumptions underlying a project. Do a base case analysis, based on expectations about the …
Decision Analysis in Projects: Decision Trees - Western …
In this and the next installments, a more comprehensive decision tree model illus- trates the practice of decision analysis in project management. DECISION TREE CONSTRUCTION A …
Decision Tree Analysis for the Risk Averse Organization
This paper summarizes the traditional decision tree analysis based on expected monetary value (EMV) and contrasts that approach to the risk averse organization’s use of expected utility (E(U)).
Decision Trees, EMV and Thee - PM World Library
Decision Tree Analysis attempts to take the major risk factors into consideration ⎯ both negative and positive ⎯ into consideration in all options, depicting them in a complex multi-stage …
Four Ways to do Project Analysis Project Analysis / …
decision he/she faces: • Regression / Statistical Forecasting is a way to estimate future sales growth based on current or past performances. • Sensitivity Analysis shows her how much …
Chapter 7 - Decision Tree analysis - burlingtonelectric.com
At a basic level, a decision tree is a diagram that represents the decisions to be made, external events that create project uncertainty and the range of plausible outcomes that flow
Project risk management using multiple criteria decision …
probability of occurrence of risk, risk map to determin impact, and decision tree analysis to objectively reveal measures for risk mitigation. The following paragraphs demonstrate the AHP …
Project Schedules and Decision Trees - Intaver
The PMBOK® Guide (Project Management Institute, 2004) recommends using decision trees as one of the quantitative risk tools for the analysis of different project alternatives. PMBOK® …
DECISION TREE TECHNIQUE – A USEFUL TOOL FOR THE …
Decision trees provide an effective method of Decision Making because they: ⇒ Clearly lay out the problem so that all options can be challenged; ⇒ Allow us to analyze fully the possible …
Decision Analysis in Projects: Monte Carlo Simulation
DECISION ANALYSIS IN PROJECTS 1. Expected Value—The Cornerstone. Representing a probability distribu- tion as an unbiased, single value. 2. Optimal Decision Policy. Appraising …
ROOT CAUSE ANALYSIS AND DECISION TREES TOOLS FOR …
STRUCTURE OF A DECISION TREE • Root Node: The starting point representing the initial decision or condition. • Branches: Represent options or actions from each node. • Internal …
Use Decision Trees to Make Important Project
We can illustrate decision tree analysis by considering a common decision faced on a project. We are the prime contractor and there is a penalty in our contract with the customer that depends …
Using Binomial Decision Trees and Real Options Theory to …
The traditional decision tree approach developed by Tan et al (2009) for linking to an SD model is based on transforming data generated by Monte Carlo simulations of the SD model of the …
Decision Analysis in Projects: Other Probabilistic Techniques
DECISION ANALYSIS IN PROJECTS 1. Expected Value—The Cornerstone. Representing a probability distribu-tion as an unbiased, single value. 2. Optimal Decision Policy. Appraising …
THE JOURNAL OF AACE®INTERNATIONAL - Project Risk
We can illustrate decision tree analysis by considering a common decision faced on a project. We are the prime contractor and there is a penalty in our contract with the customer that depends …
Project risk management using multiple criteria decision …
This study proposes an integrated analytical framework for effective management of project risks using combined multiple criteria decision-making technique and decision tree analysis.
Chapter 14 Decision Tree Analysis and Utility Theory - Springer
for the implementation of decision tree analysis are illustrated in the following two examples: Example 14.1: Investment decision tree. The company has an opportunity to invest in a project …
Decision Analysis in Projects:Utility and Multi-Criteria Decisions
Decision Analysis in Projects:Utility and Multi-Criteria Decisions. 22PM Network• April 1995. A discussion of how to structure decision policy when there are multiple project criteria, …
Decision Analysis in Products: Value of Information
Concerns of Project Managers Editor’s Note: This is fourth in a series of articles de-scribing decision analysis in projects. In the last article, we introduced decision tree analysis, a popular …
