Economic And Cost Analysis For Operations And Project Managers 2nd Edition

Cost and Value Management in Projects Project manager's guide to achieving cost efficiency and value optimization—thoroughly updated with new cases, examples, and problem sets The newly revised and updated Second Edition of Cost and Value Management in Projects provides project managers with a thorough understanding of the various dimensions of cost and value in projects, along with the factors that impact them and the managerial approaches for achieving cost efficiency and value optimization. Whereas most cost management books discuss the topic from a tactical perspective, such as through the use of simple budgeting or Earned Value Analysis, this Second Edition addresses cost from a strategic perspective, examining project management decision areas that have the potential to enhance value and providing an integrated framework for managing cost. The Second Edition includes updates to key topic areas such as project benefits realization, updated end-of-chapter exercises such as discussion questions and problem sets, updated case studies, and new spreadsheet analytic techniques and examples. Written by two highly qualified authors with significant experience in the field, Cost and Value Management in Projects includes information on: Value management through value planning, engineering, and analysis from the perspective of projects, and best practices on how to avoid common pitfalls in managing cost and value Organization strategy and project selection, organization structure and culture, project definition (and contracts), and estimating project times and cost Developing project plans and schedules, managing risk, scheduling resources and cost, reducing project duration, leadership, performance measurement, and project closure Attainment of value in complex environmental settings and benefits of effective project management Cost and Value Management in Projects is an essential resource on the subject for stakeholders at all corporate and government levels, including executives measuring performance, middle level corporate managers, project and team managers, engineers, project team members, and business consultants, along with students in related programs of study.

Keep Control of your Large, Complex Projects. Proper Cost Control and Forecasting must support the Project Manager's decision making; unfortunately, that is still rarely the case. This handbook explains how to improve significantly the odds of maintaining projects under control and taking the right decisions at the right time.

This book is designed to introduce designers, engineers, technologists, estimators, project managers, and financial analysts as well as students in engineering and business to strategic cost tools for project cost evaluations. The three main sections are as follows. (1) Cost Relationships, Financial Statements, and Performance Measures—This section describes the relationships between cash flows and profits; the relationships between financial statements and the Purcell Diagram; and the issues of cost estimating, time-based breakeven analysis and time-based earned schedule. (2) Tools for Economic Evaluations—This section considers the basic mathematical relations used behind the economic equations and factors; discrete and continuous interest; depreciation terms and methods; and the Present Value of Principal Approach for evaluating loans. (3) Methods for Project Evaluation and Risk Analysis—This section considers payback periods, present worth analysis, return on investment, internal rate of return, benefit/cost ratios and positive-negative project balances; risk techniques of sensitivity analysis, optimistic-pessimistic analysis, discrete probability examples, and continuous probability models using the normal and triangular distributions.

Project management is a system originally developed within the construction industry for controlling schedules, costs, and specifications of large multitask projects. In recent years, manufacturers have discovered that project management's time-tested techniques dovetail neatly with the current thinking on quality control and management in a highly competitive global marketplace. The system has been increasingly recognized for its suitability in the manufacturing process and is now applied in virtually every area of production. One of the foremost proponents of this trend is Adedeji Badiru, an internationally recognized authority on project management, whose books have helped thousands of companies adapt the system to their particular needs. This completely revised Second Edition of Badiru's breakthrough publication, Project Management in Manufacturing and High Technology Operations, focuses on the dramatic increase in the use of high-tech machinery in industrial operations, and seamlessly integrates high-tech themes into a general discussion of project management. An introductory chapter on manufacturing analysis investigates how the latest concepts and techniques of project management are applied to manufacturing. The main body of the book offers a wealth of new material, including discussions of learning curve analysis, basic models for forecasting and inventory control, economic analysis of manufacturing, techniques for data analysis, and the application of expert systems. The chapter on computer applications in project management is completely revised and updated to reflect the enormous strides taken in this area in recent years. This book presents an up-to-date, practical approach to project management in manufacturing. Written by a pioneer in the application of project management to the manufacturing industries, this revised and expanded Second Edition of Project Management in Manufacturing and High Technology Operations reflects the increased use of high-tech machinery in industrial operations and the trends of recent years to apply project management methods to every phase of production. Complete with numerous illustrations, as well as exercises to wrap up each chapter, this Second Edition features: An emphasis on practical examples, including many new case studies, and a full chapter on the lessons learned from the space shuttle Challenger disaster Many new project management concepts and techniques that focus on manufacturing but can be applied to any project A new chapter on manufacturing systems analysis that provides the backdrop for the project analysis that takes place throughout the book Expanded discussions of the latest quantitative and managerial approaches, including learning curve analysis, basic models for forecasting and inventory control, economic analysis of manufacturing, techniques for data analysis, and the application of expert systems A strong international perspective, useful for multinational companies and for academic purposes This book equips engineers and managers with the tools to effectively manage all aspects of a project, including quality control, schedules, and expenses. Used as a text in engineering or business courses, it offers absorbing supplemental reading for students at the upper undergraduate and graduate levels. Professor Badiru has been widely praised for his incisive and highly relevant case studies. In this Second Edition, the case-study approach is expanded so that chapters typically include two real-world examples of the project management techniques or issues in question. In the final chapter, Badiru takes a close and painful look at a high-tech disaster, the explosion of the space shuttle Challenger. He offers rare and instructive insight into the devastating failure of a high-tech project—still poignant, despite the passage of time. Communicative throughout, this volume provides a solid, up-to-date reference for engineers and managers in manufacturing, as well as for consultants and administrators in related fields. Professor Badiru's proven reputation for providing interesting lecture material also makes Project Management in Manufacturing and High Technology Operations especially useful as a technology management text in both engineering and business schools. Cover Design/Illustration: David Levy

Before You Put the First Shovel in the Ground—This Book Could Be the Difference Between a Successful Mining Operation and a Money Pit Opening a successful new mine is a vastly complex undertaking, entailing several years and millions to billions of dollars. In today’s world, when environmental and labor policies, regulatory compliance, and the impact of the community must be factored in, you cannot afford to make a mistake. The Society for Mining, Metallurgy & Exploration has created this road map for you. Written by two hands-on, in-the-trenches mining project managers with decades of experience bringing some of the world’s most successful, profitable mines into operation on time, within budget, and ethically, Project Management for Mining gives you step-by-step instructions in every process you are likely to encounter. It is in use as course material in universities in Australia, Canada, Colombia, Ghana, Iran, Kazakhstan, Peru, Russia, Saudi Arabia, South Africa, the United Kingdom, as well as the United States. In addition, more than 100 different mining companies have sent employees to attend seminars conducted by authors Robin Hickson and Terry Owen, sessions all based around the material within this book. In the years following the first edition, the authors gratefully received a bevy of excellent suggestions from some 2,000 readers in over 50 countries. This helpful reader feedback, coupled with written evaluations from the more than 400 seminar attendees, has been an unparalleled source of improvement for this new book. This second edition is a significant accomplishment that includes 5 new chapters, substantial updates to the original 34 chapters, and 56 new or updated figures, flowcharts, and checklists that every project manager can use.

Construction Equipment Management for Engineers, Estimators, and Construction Managers, Second Edition has been extensively rewritten to not only bring it up to date with the state of current practice, but also to serve as a textbook for university courses in construction engineering and management. The authors advanced the previous edition’s practical, hands-on approach and added material on the future of construction equipment fleet management, which they believe will require a new technology-based skillset to maximize the cost-effectiveness of construction equipment operations. As such, the book covers the latest construction equipment technologies. Features: Examines emergent technologies in the field, including automated machine guidance systems, intelligent compaction operations, and equipment-related civil integrated management tools. Provides information on how to reduce an equipment fleet’s environmental impact, decreasing greenhouse gas emissions through enhanced equipment management and optimization practices. Discusses estimating equipment ownership, operating costs, economic life and optimal replacement timing. Demonstrates how to maximize profit by determining the optimum equipment mix and estimating productivity. Illustrates the use of production-based linear scheduling and stochastic simulations to maximize project cost and schedule certainty. This new edition will serve as an essential textbook for students as well as a valuable reference for a wide range of professionals within the construction, architecture, and engineering industries.