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Quantitative Methods in Project Management

Quantitative Methods in Project Management

By John C. Goodpasture
Hardcover, 6X9, 288 pages
ISBN: 1-932159-15-0
December 2003

Availability: In stock

Retail Price: $64.95
Direct Price: $59.95

About the Item
This is a practitioner’s book, combining theoretical and practical applications for project professionals. It is a loosely coupled work flow that takes PM’s through the most important quantitative methods, integrates them, and shows interrelationships that cannot be obtained by separate readings. These practical methods can be applied easily by project practitioners who are not steeped in theory and need to know how to make everyday use of numerical analysis in projects. This book also covers financial and life cycle risk as well as risk for the project itself and contains unique extensions to earned value and project initiation. This book will be of particular interest to project managers, program managers, project administrators, system engineers, cost and risk estimators, as well as continuing education and seminar providers.

Many J. Ross Publishing customers have purchased John Goodpasture's Quantitative Methods in Project Management with David Rico's ROI of Software Process Improvement - a book that masterfully illuminates complex topics in ROI. For more information on this title, please click here.
Key Features
  • Introduces probability and statistics for the project manager and discusses their importance for setting achievable expectations and managing risk
  • Discusses the work breakdown structure and its connection to the company general ledger with examples of estimates using different methods, under various states of uncertain and incomplete information
  • Covers decision trees and decision tables used for quantitative decision making and includes examples of simple trees, trees with independent conditions, and trees with dependent conditions
  • Explains risk-adjusted methods in capital budgeting and introduces the concepts of expense accounting and earned value
  • Examines the numbers and provides insight on project contracting as a risk management tool
  • Covers special topics such as hypothesis testing, regression analysis, probability-impact analysis, Six Sigma, and QFD analysis
  • About the Author(s)
    John Goodpasture is President, Square Peg Consulting, Inc., a consulting firm in the field of project management. He has an MS in Electrical Engineering and over 35 years of work experience in complex multi-million-dollar programs and projects in the defense, intelligence, aerospace and commercial industries. John is the author of Managing Projects for Value, has authored dozens of articles in PM Network magazine, and has authored and presented numerous papers and several unique quantitative techniques to PMI National Symposium. He is an experienced and sought-after speaker, instructor, and lecturer.
    Table of Contents

    Project Value: The Source of All Quantitative Measures
          Successful Projects
          Business Value Is the Motivator for Projects
          A Framework for Value, Risk, and Capability: The Project Balance Sheet
          Summary

    Introduction to Probability and Statistics for Projects
          There are No Facts about the Future
          Probability... What Do We Mean by It?
          Random Variables and Their Functions in Projects
          Probability Distributions for Project Managers
          Key Statistics Used in Projects
          The Arithmetic of Operations on Statistics and Random Variables
          Probability Distribution Statistics
          The Central Limit Theorem and Law of Large Numbers
          Confidence Intervals and Limits for Projects
          Covariance and Correlation in Projects
          Summary

    Organizing and Estimating the Work
          Organizing the Scope of the Work
          Estimating Methods for Projects
          Summary

    Making Quantitative Decisions
          A Project Policy for Decisions
          The Decision Tree
          Decision Tables
          Decisions and Conditions
          Summary

    Risk-Adjusted Financial Management
          Financial Statements
          Capital Budgeting
          Discounted Cash Flow
          Summary

    Expense Accounting and Earned Value
          The Expense Statement
          Applying Three-Point Statistical Estimates to Cost
          The Earned Value Concept
          Preparing the Project Team for Earned Value
          Applying Earned Value
          Time-Centric Earned Value
          Summary

    Quantitative Time Management
          Quantitative Techniques in Time Management
          Setting the Program Milestone
          The Schedule Network
          The Critical Path Method
          The Central Limit Theorem Applied to Networks
          Monte Carlo Simulation of the Network Performance
          Architecture Weaknesses in Scheduling Logic
          Rolling Wave Plan
          The Critical Chain
          Summary

    Special Topics in Quantitative Management
          Regression Analysis
          Hypothesis Testing
          Risk Management with Probability Times Impact Analysis
          Six Sigma and Project Management
          Quality Function Deployment
          Summary

    Quantitative Methods in Project Contracts
          Project Contracts
          The Mathematics of Project Contracts
          Summary

    Index

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