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8773_C000.indd i 7/9/2007 11:41:05 AM 8773_C000.indd ii 7/9/2007 11:41:07 AM 8773_C000.indd iii 7/9/2007 11:41:07 AM 8773_C000.indd iv 7/9/2007 11:41:07 AM Dedication Dedicated to the memory of Omolade Badiru The bud that never got to bloom, but whose spirit lives on 8773_C000.indd v 7/9/2007 11:41:08 AM 8773_C000.indd vi 7/9/2007 11:41:08 AM Contents Preface ....................................................................................................................ix Acknowledgments .................................................................................................xi Authors ................................................................................................................ xiii Chapter 1 Characteristics of Industrial Projects ...............................................1 Chapter 2 Principles of Project Management .................................................29 Chapter 3 Time and Schedule Management ...................................................67 Chapter 4 Project Duration Diagnostics .........................................................87 Chapter 5 Schedule Compression Techniques .............................................103 Chapter 6 Resource Analysis and Management ...........................................115 Chapter 7 Techniques for Project Forecasting .............................................145 Chapter 8 Six Sigma and Lean Project Management ...................................169 Chapter 9 Project Risk Analysis ...................................................................195 Chapter 10 Project Economic Analysis ...........................................................203 Chapter 11 Industrial Project Management Case Studies ...............................235 Appendix A Project Terms and Definitions ......................................................259 Appendix B Project Acronyms ........................................................................ 291 Index ................................................................................................................... 303 8773_C000.indd vii 7/9/2007 11:41:08 AM 8773_C000.indd viii 7/9/2007 11:41:08 AM Preface Industry represents the pulse of economic development of any nation. Successful industrial project management thus holds a key position in advancing regional and national development. Project management is the process of managing, allocating, and timing resources to achieve a given goal in an efficient and expeditious manner. The objectives that constitute the specified goal may be in terms of time, costs, or technical results. Projects can range from the very simple to the very complex. Owing to its expanding utility and relevance, project management has emerged as a separate body of knowledge that is embraced by various disciplines ranging from engineering and business to social services. Project management techniques are widely used in many endeavors, including construction management, banking, manufacturing, engineering management, marketing, health care delivery systems, transportation, research and development, defense, and public services. The application of project management is particularly of high value in industrial enterprises. In today’s fast-changing and highly competitive global market, every industrial enterprise is constantly striving to get ahead. Integrative project management offers one avenue to achieve that goal. Project management represents an excellent basis for integrating various management techniques