Author: Werner G. Meyer
Publisher:
ISBN:
Category : Decision making
Languages : en
Pages : 14
Book Description
This research presents the findings from an experiment that invesigated to what extent decision makers suffer from optimism bias when escalating a commitment to failing projects; 345 individuals, involved in project decision making, participated in the experiment. A new form of optimism bias, namely post-project optimism bias, is defined. Post-project optimism is an overly optimistic belief that a project will deliver better business benefits than what was planned or that can be proven. It is further confirmed that both post-project and in-project optimism biases have significant effects on the escalation of commitment to failing projects.
Author: Werner G. Meyer
Publisher:
ISBN:
Category : Decision making
Languages : en
Pages : 14
Book Description
This research presents the findings from an experiment that invesigated to what extent decision makers suffer from optimism bias when escalating a commitment to failing projects; 345 individuals, involved in project decision making, participated in the experiment. A new form of optimism bias, namely post-project optimism bias, is defined. Post-project optimism is an overly optimistic belief that a project will deliver better business benefits than what was planned or that can be proven. It is further confirmed that both post-project and in-project optimism biases have significant effects on the escalation of commitment to failing projects.
Author: Nardia Haigh
Publisher: Routledge
ISBN: 1351016334
Category : Business & Economics
Languages : en
Pages : 154
Book Description
Climate change, and the resultant impact on resource management and societal wellbeing, is one of the greatest challenges facing businesses and their long-term performance. Uncertainty about access to resources, unanticipated weather events, rapidly changing market conditions and potential social unrest is felt across all business and industry sectors. This book sets out an engaging step-by-step scenario-planning method that executives, Board members, managers and consultants can follow to develop a long-term strategy for climate change tailored for their business. Most climate change strategy books discuss climate mitigation only, focusing on how companies engage with carbon policy, new technologies, markets and other stakeholders about reducing carbon emissions. This book explores these themes but also looks at strategizing for climate change adaptation. Adaptation is equally important, especially given that companies cannot negotiate with nature. There is a need to interpret climate science for business in a way that acknowledges the realities of climate change and identifies a way forwards in responding to this uncertain future.
Author: PMP, PgMP, Ginger Levin
Publisher: CRC Press
ISBN: 1482251051
Category : Business & Economics
Languages : en
Pages : 358
Book Description
Recognizing the importance of selecting and pursuing programs, projects, and operational work that add sustainable business value that benefits end users, the Project Management Institute (PMI) issued its first Standard on Portfolio Management in 2006. In 2014, it launched the Portfolio Management Professional (PfMP) credential-which several of the
Author: Bent Flyvbjerg
Publisher: Oxford University Press
ISBN: 0198732244
Category : Business & Economics
Languages : en
Pages : 625
Book Description
This handbook provides state-of-the-art scholarship in the emerging field of megaproject management. The 25 chapters cover all aspects of megaproject management, from front-end planning to actual project delivery, including how to deal with stakeholders, risk, finance, complexity, innovation, governance, ethics, project breakdowns, and scale itself.
Author: Werner G. Meyer
Publisher:
ISBN:
Category : Failure (Psychology)
Languages : en
Pages : 11
Book Description
Despite a broad base of research showing the behaviors behind escalation of commitment to a failing project, decision makers still continue to move forward when project failure appears likely. In this paper, the author cites recent research into the impact that optimism has on decision makers and escalation of commitment. Citing recent studies and the past body of research, the author posits that optimism bias is a major contributor to escalation of commitment in project decisions, and provides strategies to change and manage the phenomenon.
Author: Karen Donohue
Publisher: John Wiley & Sons
ISBN: 1119138310
Category : Business & Economics
Languages : en
Pages : 688
Book Description
A comprehensive review of behavioral operations management that puts the focus on new and trending research in the field The Handbook of Behavioral Operations offers a comprehensive resource that fills the gap in the behavioral operations management literature. This vital text highlights best practices in behavioral operations research and identifies the most current research directions and their applications. A volume in the Wiley Series in Operations Research and Management Science, this book contains contributions from an international panel of scholars from a wide variety of backgrounds who are conducting behavioral research. The handbook provides succinct tutorials on common methods used to conduct behavioral research, serves as a resource for current topics in behavioral operations research, and as a guide to the use of new research methods. The authors review the fundamental theories and offer frameworks from a psychological, systems dynamics, and behavioral economic standpoint. They provide a crucial grounding for behavioral operations as well as an entry point for new areas of behavioral research. The handbook also presents a variety of behavioral operations applications that focus on specific areas of study and includes a survey of current and future research needs. This important resource: Contains a summary of the methodological foundations and in-depth treatment of research best practices in behavioral research. Provides a comprehensive review of the research conducted over the past two decades in behavioral operations, including such classic topics as inventory management, supply chain contracting, forecasting, and competitive sourcing. Covers a wide-range of current topics and applications including supply chain risk, responsible and sustainable supply chain, health care operations, culture and trust. Connects existing bodies of behavioral operations literature with related fields, including psychology and economics. Provides a vision for future behavioral research in operations. Written for academicians within the operations management community as well as for behavioral researchers, The Handbook of Behavioral Operations offers a comprehensive resource for the study of how individuals make decisions in an operational context with contributions from experts in the field.
Author: John M. Nicholas
Publisher: Routledge
ISBN: 1000092569
Category : Business & Economics
Languages : en
Pages : 970
Book Description
Project Management for Engineering, Business and Technology is a highly regarded textbook that addresses project management across all industries. First covering the essential background, from origins and philosophy to methodology, the bulk of the book is dedicated to concepts and techniques for practical application. Coverage includes project initiation and proposals, scope and task definition, scheduling, budgeting, risk analysis, control, project selection and portfolio management, program management, project organization, and all-important "people" aspects—project leadership, team building, conflict resolution, and stress management. The systems development cycle is used as a framework to discuss project management in a variety of situations, making this the go-to book for managing virtually any kind of project, program, or task force. The authors focus on the ultimate purpose of project management—to unify and integrate the interests, resources and work efforts of many stakeholders, as well as the planning, scheduling, and budgeting needed to accomplish overall project goals. This sixth edition features: updates throughout to cover the latest developments in project management methodologies; a new chapter on project procurement management and contracts; an expansion of case study coverage throughout, including those on the topic of sustainability and climate change, as well as cases and examples from across the globe, including India, Africa, Asia, and Australia; and extensive instructor support materials, including an instructor’s manual, PowerPoint slides, answers to chapter review questions and a test bank of questions. Taking a technical yet accessible approach, this book is an ideal resource and reference for all advanced undergraduate and graduate students in project management courses, as well as for practicing project managers across all industry sectors.
Author: Olivier Mesly
Publisher: CRC Press
ISBN: 1351987534
Category : Business & Economics
Languages : en
Pages : 260
Book Description
Marketing is about placing a new product or service into the market. Projects are about delivering new products and services. The merger of these two fields holds great promise for delivering value to organizations and their clients. Project managers can serve many markets ranging from investors who fund projects to that of clients who use new products and services. Marketing Projects is a guide for helping project managers have projects funded or deliver value to end users. It is also a guide for marketing managers new to the world of project management. The book begins by presenting the basics of both marketing and project management and highlights the aspects that are unique and relevant to both areas. It then explores marketing project feasibility and presents tools for assessing feasibility, which include the 6Ps of project management strategy: The project 4Ps: plan, processes, people, and power PRO: pessimistic, realistic, and optimistic scenarios POVs: points of vulnerability POE: point of equilibrium POW: product, organization, and work breakdown structures PWP: work psychodynamics This book illustrates how to use these tools to market new projects to potential sponsors and investors. It then explores marketing projects to end users. Crucial to the success of projects are the relationships between project managers and clients and the way marketing experts implement their strategies. This book explains how project managers can develop meaningful relationships with clients to foster trust and have positive interactions. Project managers excel at managing the processes for delivering new products and services. Marketers are keenly aware of latent, or unconscious needs, as well as those developing and emerging, and can provide project promoters and managers with exciting ideas. This book will help improve the mutual understanding between marketing and project managers, an effort ultimately benefiting end users, whether they be investors or customers. A better work atmosphere and a closer fit between marketing and project management objectives can only serve the interests of investors and end users, for whom marketers and project managers conceive and realize projects, one way or the other.
Author: Carl Belack
Publisher: CRC Press
ISBN: 0429953755
Category : Business & Economics
Languages : en
Pages : 224
Book Description
Issues surrounding business complexity plague organizations throughout the world. This situation is particularly true of the numerous complex projects and programs upon which organizations embark on a regular basis. Current project management processes and standards are based on Newtonian/Cartesian principles, such as linearity, reductionism, and single source problem causation. However, complex projects exhibit both Newtonian/Cartesian characteristics and complex systems characteristics, such as emergence, self-organization, non-linearity, non-reductionism, and multi-source problem causation. To conduct successful projects, complementary ways of approaching projects are required, and new competencies for those who manage projects and for those on project teams are required as well. There are a number of books available to help project managers and teams address the issue of systems behavior. However, there are none that approach complex projects from a neuroscience-based approach to human behavior and ambiguity. This book does exactly that in order to reduce project complexity and thereby increase the probability of project success. Cognitive Readiness in Project Teams looks to the concept of cognitive readiness (CR), first developed by the United States Department of Defense to better prepare and manage teams of individuals in complex battlefield situations. Its intent is to make project managers and teams more focused, responsive, resilient and adaptive through self-mastery and the mastering of interpersonal relationships. It introduces a CR framework for project managers and teams. This framework has neuroscience fundamentals and theorems as the foundation for the three pillars of CR: mindfulness, emotional intelligence, and social intelligence. The book is a compendium of chapters written by renowned authors in the fields of project management, neuroscience, mindfulness, and emotional and social intelligence.
Author: Terry M. Williams
Publisher: Taylor & Francis
ISBN: 1000609561
Category : Business & Economics
Languages : en
Pages : 264
Book Description
Large public projects represent major complex investment and whilst there has been much written about how to develop, manage and deliver such projects, practice still does not match up with expectations. In this book, researchers from the Norwegian Concept Research Programme explore the paradoxes between theory and practice in collaboration with experts in the field of project governance. This book delves into the reality of large public projects, to show how they can be managing effectively and efficiently, recognising the realities of their context. It offers a range of practical conclusions as to the paradoxes of the governance and management of public projects. The international spectrum of authors draw their examples from the UK, Norway, Canada, France, Australia and the Netherlands. Bridging the gap between research, theory and practice, this book will benefit academics and researchers in the field of project management and corporate governance as well as those in the practice of public project governance, civil servants and industry practitioners.
