IE705: Quantitative Methods in Project Management

Prof. A Subash Babu


Course Description :

Broadly speaking, this course helps the student understand the decision making processes that go on in a project. The general idea is to introduce the concepts of conceiving, planning, executing and closing of a project.

The idea is that in any project, there are always risks involved. The planning should aim to minimize the risks.

This is a six credit course, with three hour per week lectures,with no additional tutorial sessions.


Course Content :

  • Overview of Project Management
  • Project life cycle management
  • Anatomy of projects: Objectives and success criteria- both financial and non-financial measures;
  • Case studies and examples
  • Applications of multiple criteria decision making (MCDM) methods
  • Concepts and applications of Work Breakdown Structure (WBS)
  • Network analysis for time management
  • Project Appraisal Methods
  • Time Value of Money
  • Depreciation; Depletion
  • Theory of constraints and the Critical Chain method for planning and controlling a project
  • Balance Sheet Vs Balanced Scorecard
  • Variance Analysis; Key management Ratios


Evaluation Scheme:

  • In addition to two announced quizzes, one midsem, one endsem,there are surprise quizzes
  • The course also involves a term project, which carries significant weightage. The topics for the project will be given after the midsem, and the project will have to be presented before the endsems.



Lecture slides are complete with full text and examples, hence sufficient.