Overview
- Reviews and compares different project control methodologies for monitoring projects under uncertainty
- Provides a comprehensive compilation of artificial and empirical project databases available in the literature
- Defines guidelines for the use of project data and computer algorithms to improve decision making
Part of the book series: Management for Professionals (MANAGPROF)
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About this book
This book comprehensively assesses the growing importance of project data for project scheduling, risk analysis and control. It discusses the relevance of project data for both researchers and professionals, and illustrates why the collection, processing and use of such data is not as straightforward as most people think. The theme of this book is known in the literature as data-driven project management and includes the discussion of using computer algorithms, human intuition, and project data for managing projects under risk.
The book reviews the basic components of data-driven project management by summarizing the current state-of-the-art methodologies, including the latest computer and machine learning algorithms and statistical methodologies, for project risk and control. It highlights the importance of artificial project data for academics, and describes the specific requirements such data must meet. In turn, the book discusses a wide variety of statistical methods available to generate these artificial data and shows how they have helped researchers to develop algorithms and tools to improve decision-making in project management. Moreover, it examines the relevance of project data from a professional standpoint and describes how professionals should collect empirical project data for better decision-making. Finally, the book introduces a new approach to data collection, generation, and analysis for creating project databases, making it relevant for academic researchers and professional project managers alike.Keywords
Table of contents (16 chapters)
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Front Matter
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Data-Driven Project Management
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Front Matter
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What Academics Do
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Front Matter
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What Professionals Want
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Front Matter
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About Project Data
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Front Matter
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Authors and Affiliations
About the author
Prof. Mario Vanhoucke is a Professor at Ghent University (Belgium), Vlerick Business School (Belgium) and UCL School of Management at University College London (UK). He teaches courses on Project Management, Applied Operations Research and Decision-making for Business. His research interests lie in the integration of project scheduling, risk management, and project control, which has led to more than 100 papers in international journals, five project management books published by Springer, and a PM Knowledge Center for online learning (www.pmknowledgecenter.com). His research has received multiple awards, e.g. from the PMI Belgium and the IPMA.
Bibliographic Information
Book Title: The Illusion of Control
Book Subtitle: Project Data, Computer Algorithms and Human Intuition for Project Management and Control
Authors: Mario Vanhoucke
Series Title: Management for Professionals
DOI: https://doi.org/10.1007/978-3-031-31785-9
Publisher: Springer Cham
eBook Packages: Business and Management, Business and Management (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2023
Hardcover ISBN: 978-3-031-31784-2Published: 05 July 2023
Softcover ISBN: 978-3-031-31787-3Published: 05 July 2024
eBook ISBN: 978-3-031-31785-9Published: 04 July 2023
Series ISSN: 2192-8096
Series E-ISSN: 2192-810X
Edition Number: 1
Number of Pages: XIV, 330
Number of Illustrations: 16 b/w illustrations, 55 illustrations in colour
Topics: Operations Management, Project Management, Operations Research/Decision Theory, Big Data, Algorithms