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Earned value management (EVM), earned value project management, or earned value performance management (EVPM) is a project management technique for measuring project performance and progress in an objective manner.
Project management is the process of leading the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time, and budget. The secondary challenge is to optimize the allocation of necessary inputs and apply them to meet pre-defined objectives.
Critical chain project management (CCPM) is a method of planning and managing projects that emphasizes the resources required to execute project tasks. It was developed by Eliyahu M. Goldratt. It differs from more traditional methods that derive from critical path and PERT algorithms, which emphasize task order and rigid scheduling. A critical chain project network strives to keep resources levelled, and requires that they be flexible in start times.
Project management software are computer programs that help plan, organize, and manage resources.
Real options valuation, also often termed real options analysis, applies option valuation techniques to capital budgeting decisions. A real option itself, is the right—but not the obligation—to undertake certain business initiatives, such as deferring, abandoning, expanding, staging, or contracting a capital investment project. For example, real options valuation could examine the opportunity to invest in the expansion of a firm's factory and the alternative option to sell the factory.
Lars Peter Hansen is an American economist. He is the David Rockefeller Distinguished Service Professor in Economics, Statistics, and the Booth School of Business, at the University of Chicago and a 2013 recipient of the Nobel Memorial Prize in Economics.
The Association for Project Management is a British professional organisation for project and programme management. It received a Royal Charter in 2017, and is a registered charity. It has over 37,500 individual and 550 corporate members, and is the largest professional body of its kind in the United Kingdom. The head office is in Princes Risborough in Buckinghamshire. It is the certification body in the United Kingdom for the International Project Management Association.
Lean construction is a combination of operational research and practical development in design and construction with an adoption of lean manufacturing principles and practices to the end-to-end design and construction process. Unlike manufacturing, construction is a project-based production process. Lean Construction is concerned with the alignment and holistic pursuit of concurrent and continuous improvements in all dimensions of the built and natural environment: design, construction, activation, maintenance, salvaging, and recycling. This approach tries to manage and improve construction processes with minimum cost and maximum value by considering customer needs.
In project management, the cone of uncertainty describes the evolution of the amount of best case uncertainty during a project. At the beginning of a project, comparatively little is known about the product or work results, and so estimates are subject to large uncertainty. As more research and development is done, more information is learned about the project, and the uncertainty then tends to decrease, reaching 0% when all residual risk has been terminated or transferred. This usually happens by the end of the project i.e. by transferring the responsibilities to a separate maintenance group.
In applied mathematics and decision making, the aggregated indices randomization method (AIRM) is a modification of a well-known aggregated indices method, targeting complex objects subjected to multi-criteria estimation under uncertainty. AIRM was first developed by the Russian naval applied mathematician Aleksey Krylov around 1908.
A Risk Breakdown Structure (RBS) within risk management is a hierarchically organised depiction of the identified project risks arranged by category.
Jakob Stoustrup is a Danish researcher employed at Aalborg University, where he serves as professor of control theory at the Department of Electronic Systems.
The following outline is provided as an overview of and topical guide to project management:
The Global Alliance for the Project Professions (GAPPS) is a nonprofit organization who provides independent reference benchmarks for project management standards and assessments. Driven entirely by volunteers, the GAPPS is an alliance of government, private industry, professional associations, and training and academic institutions working to develop globally applicable performance based competency standards for project management. The GAPPS produces standards, frameworks, and comparability maps which are intended to facilitate mutual recognition of project management qualifications and are available for download, free of charge, from their website.
Probability bounds analysis (PBA) is a collection of methods of uncertainty propagation for making qualitative and quantitative calculations in the face of uncertainties of various kinds. It is used to project partial information about random variables and other quantities through mathematical expressions. For instance, it computes sure bounds on the distribution of a sum, product, or more complex function, given only sure bounds on the distributions of the inputs. Such bounds are called probability boxes, and constrain cumulative probability distributions.
Estimation is the process of finding an estimate or approximation, which is a value that is usable for some purpose even if input data may be incomplete, uncertain, or unstable. The value is nonetheless usable because it is derived from the best information available. Typically, estimation involves "using the value of a statistic derived from a sample to estimate the value of a corresponding population parameter". The sample provides information that can be projected, through various formal or informal processes, to determine a range most likely to describe the missing information. An estimate that turns out to be incorrect will be an overestimate if the estimate exceeds the actual result and an underestimate if the estimate falls short of the actual result.
Spider Project is a project management software, developed by a company, called Spider Project Team.
Roland W. Gutsch was a German engineer at the German aircraft manufacturer Dornier, known as co-founder and President of the International Project Management Association, and the GMP Deutsche Gesellschaft für Projektmanagement e.V.
Eric Gabriel was a British mechanical engineer in the construction industry and 4th president of the International Project Management Association, known for his contribution to the development and professionalism of project management.
Ofer Zwikael is an Australian management scientist, academic, and author. He is a professor in the Australian National University's Research School of Management.
References
- 1 2 3 4 About Steen Lichtenberg at lichtenberg.org. Accessed 28-06-2017.
- 1 2 IPMA, IPMA, 50 years - Building Bridges Worldwide, Panama Edition, 2015. p. 103
- ↑ Bo Tonnquist (2009), Project management. p. 122
- ↑ Per Svejvig. "Rethinking project management in Denmark," in: Project Management Multiplicity, Jan Pries-Heje (ed.), 2013. p. 40