Project Management Processes, Methodologies, and Economics

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  • Edition: 3rd
  • Format: Paperback
  • Copyright: 2016-08-10
  • Publisher: Pearson

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For courses in project, production, and operations management.


A concise and focused text on modern project management with a practical approach

Concise, focused, and practical, this Third Edition of Project Management: Processes, Methodologies, and Economics presents the tools and techniques that are most suited for modern project management. The authors show the relationship between project planning and implementation, from budgeting to scheduling and control. The text aims to identify the components of modern project management and show how they relate to the basic phases of a project, with a focus that prioritizes integrated concepts over isolated methodologies. Much of the material specifically relates to the Project Management Body of Knowledge (PMBOK), published by the Project Management Institute.


This text is a thorough reference for readers of all backgrounds. The Third Edition includes a new section on Lean project management, a new chapter on simulation, and more. 

Author Biography

Professor Avraham Shtub holds the Stephen and Sharon Seiden Chair in Project Management. He has a B.Sc. in Electrical Engineering from the Technion—Israel Institute of Technology (1974), an MBA from Tel Aviv University (1978), and a Ph.D. in Management Science and Industrial Engineering from the University of Washington (1982).


He is a certified Project Management Professional (PMP) and a member of the Project Management Institute (PMI-USA). He is the recipient of the Institute of Industrial Engineering 1995 Book of the Year Award for his book Project Management: Engineering, Technology, and Implementation (coauthored with Jonathan Bard and Shlomo Globerson), Prentice Hall, 1994. He is the recipient of the Production Operations Management Society Wick Skinner Teaching Innovation Achievements Award for his book Enterprise Resource Planning (ERP): The Dynamics of Operations Management. His books on Project Management were published in English, Hebrew, Greek, and Chinese.


He is the recipient of the 2008 Project Management Institute Professional Development Product of the Year Award for the training simulator “Project Team Builder — PTB.”


Professor Shtub was a Department Editor for IIE Transactions, he was on the Editorial Boards of the Project Management Journal, The International Journal of Project Management, IIE Transactions, and the International Journal of Production Research. He was a faculty member of the department of Industrial Engineering at Tel Aviv University from 1984 to 1998, where he also served as a chairman of the department (1993—1996). He joined the Technion in 1998 and was the Associate Dean and head of the MBA program.


He has been a consultant to industry in the areas of project management, training by simulators, and the design of production–operation systems. He was invited to speak at special seminars on Project Management and Operations in Europe, the Far East, North America, South America, and Australia.


Professor Shtub visited and taught at Vanderbilt University, The University of Pennsylvania, Korean Institute of Technology, Bilkent University in Turkey, Otego University in New Zealand, Yale University, Universitat Politécnica de Valencia, and the University of Bergamo in Italy.


Dr. Moshe Rosenwein has a B.S.E. from Princeton University and a Ph.D. in Decision Sciences from the University of Pennsylvania. He has worked in the industry throughout his professional career, applying management science modeling and methodologies to business problems in supply chain optimization, network design, customer relationship management, and scheduling. He has served as an adjunct professor at Columbia University on multiple occasions over the past 20 years and developed a project management course for the School of Engineering that has been taught since 2009. He has also taught at Seton Hall University and Rutgers University. Dr. Rosenwein has published over 20 refereed papers and has delivered numerous talks at universities and conferences. In 2001, he led an industry team that was awarded a semi-finalist in the Franz Edelman competition for the practice of management science.


Table of Contents

1. Introduction

2. Process Approach to Project Management

3. Engineering Economic Analysis

4. Life-Cycle Costing

5. Portfolio Management–Project Screening and Selection

6. Multiple-Criteria Methods for Evaluation and Group Decision Making

7. Scope and Organizational Structure of a Project

8. Management of Product, Process, and Support Design

9. Project Scheduling

10. Resource Management

11. Project Budget

12. Project Control

13. Research and Development Projects

14. Computer Support for Project Management

15. Project Termination

16. New Frontiers in Teaching Project Management in MBA and Engineering Programs

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