Project Management
Project Management
A Financial Perspective
Dr. Jae K. Shim, MBA, Ph.D.
Professor of Accounting and Information Systems
California State University, Long Beach
and
CEO, Delta Consulting Company
© Jae K Shim 2010
Reprinted 1012
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ISBN 978-1-906403-57-7
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Table of Contents
1Overview of Project Management
2Planning and Controlling Projects
3Project Management Concepts and Process
4Using the Work Breakdown Structure to Plan a Project
5Project Scheduling
6Project Control and Evaluation
7Project Control Using Earned Value Analysis
8Life-Cycle Costing and Target Costing
9Economic Feasibility Study for a Capital Investment Project
10Managing Project Risks
11Project Communication and Documentation
Appendix: The Project Management Institute (PMI®) and Certifications
Glossary
Index
Preface
Project Management: A Financial Perspective is designed to provide you with a deep understanding of the applications and importance of Project Management. You will learn how to assess a project with respect to time, costs, and resources in order to effectively and effciently reach your goals. You will become familiar with the five processes involved in Project management – Initiating, Planning, Executing, Controlling, and Closing on time and within budget-- along with the nine knowledge areas – Project Integration, Project Scope, Project Time, Project Cost, Project Quality, Project Human Resources, Project Communications, Project Risk Management, and Project Procurement – that are essential to being an expert Project Manager.
Individuals need hard knowledge and real skills to work successfully in a project environment and to accomplish project objectives. This book is intended to equip its users with both. How? By explaining concepts and techniques and by illustrating through numerous examples how they can be skillfully applied.
This book is intended for students as well as for working professionals and volunteers. It is designed to outfit these people with the essential skills needed to make effective contributions and will have an immediate impact on the accomplishment of projects in which they are involved.
This book for the most part follows the framework within the Project Management Institute’s Project Management Body of Knowledge (PMBOK). The material, however, places a financial focus on projects as a way to accomplish desired changes in the enterprise in a coordinated and predictable way for favorable outcomes. Topics covered include economic feasibility study, life-cycle costing, target costing, and earned value analysis. Through better project management, you can reduce or eliminate failed projects and reduce the costs associated with successful ones, resulting in increased enterprise effectiveness in providing the maximum value to shareholders.
About the Author
Dr Jae K Shim
Dr. Jae K. Shim is one of the most prolific accounting and finance experts in the world. He is a professor of accounting and fnance at California State University, Long Beach and CEO of Delta Consulting Company, a financial consulting and training firm. Dr. Shim received his M.B.A. and Ph.D. degrees from the University of California at Berkeley (Haas School of Business). Dr. Shim has been a consultant to commercial and nonprofit organizations for over 30 years.
Dr. Shim has over 50 college and professional books to his credit, including, Barron’s Accounting Handbook, Barron’s Dictionary of Accounting Terms, 2011 GAAP: Handbook of Policies and Procedures, Budgeting Basics and Beyond, 2010-2011 Corporate Controller’s Handbook of Financial Management, US Master Finance Guide, Uses and Analysis of Financial Statements, Investment Sourcebook, Dictionary of Real Estate, Dictionary of International Investment Terms, Dictionary of Business Terms, The Vest-Pocket CPA, The Vest-Pocket CFO, and the best-selling Vest-Pocket MBA.
Thirty of his publications have been translated into foreign languages such as Chinese, Spanish, Russian, Polish, Croatian, Italian, Japanese, and Korean. Professor Shim’s books have been published by CCH, Barron’s, John Wiley, McGraw-Hill, Prentice-Hall, Penguins Portfolio, Thomson Reuters, Global Publishing, American Management
