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.

 

References:

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

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