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(More customer reviews)The main problem with many decision analysis books is that they are too academic and are intended for people with some operations research and management science background. "Project Decisions" is written for much broader audience. There is very little math in this book. Instead, the book is full of real-life project examples (e.g., NASA's X-33 single stage to orbit launch system and New Horizon mission to Pluto, ITER thermonuclear reactor, Toyota Prius hybrid car, new Bay bridge design and construction in San Francisco) and stories based on popular movies (e.g., Home Alone, Ocean's 11, Armageddon). As an interesting and entertaining introduction to the whole topic, the book starts off with a simple judgment test to help you assess you decision making skills.
"Project Decisions: The Art and Science" is not an ordinary decision analysis book. It is a book for project managers who don't use decision analysis because they are unaware of decision analysis techniques and tools. Each part of the book describes a phase of the decision analysis process: decision framing, modeling, quantitative decision analysis, implementation monitoring and reviews.
The book pays significant attention to risk management and risk analysis tools and techniques. Both quantitative and qualitative risk analysis techniques are described. The book includes separate chapters on sensitivity analysis, decision tree and value of information analysis, Monte Carlo simulations, and Event chain methodology.
One of the most important and often overlooked areas of project management is related to psychology or judgment and decision-making. The authors introduce the basic principles of behavioral branch of the decision analysis theory. They dedicate separate chapters to decision-making in groups, reviews and evaluation of decisions, multi-criteria decision-making and other important aspects of decision analysis.
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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!
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