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IE 705: Quantitative Methods in Project Management

Prerequisite:  Instructor's permission


Overview of Project Management: Framework for conceiving, planning, executing and closing projects; Project views of the stakeholders; Typical project examples in new product development, manufacturing, services, construction, IT and infrastructure.
Anatomy of projects: Objectives and success criteria- both financial and non financial measures; Project evaluation and selection methods using multiple attributes -economic and operation analysis; Decision tree, AHP and Utility theory.
Concepts and applications of Work Breakdown Structure (WBS), Network analysis for time management (CPM, PERT, Crashing and Simulation).
Project Resource Management: Allocation, Leveling and Smoothing methods; Multi project and multi resource , multi mode scheduling under various constraints- limited resources, limited budget, non-split, start / end lag; Application of Heuristics, Mathematical programming , Evolutionary algorithms such as GA, Application of knowledge-based systems.
Theory of constraints and the Critical Chain method for planning and controlling a project; role of buffers.
Managing Project Risks: Identification, Assessment and Mitigation.
Earned value concept in project control: Calculation of Schedule and Cost Variances; Managing Human resources, conflicts, quality, reliability, IT and Life cycle costs in projects.


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  • Goodpasture, J. C. (2003), Quantitative Methods in Project Management, J Ross Publishing, Boca Raton, Florida, USA.
  • Meredith, J. R. and Mantel Jr., S. J. (2004), Project Management: A Managerial Approach, John Wiley, New York.
  • Berkun, S. (2005), Art of Project Management, O'Reilly Media, Cambridge, MA, USA.
  • Kolisch, R. (2001), Make-To-Order Assembly Management, Springer, Berlin.
  • Marchewka, J. T. (2006), Information Technology Project Management, John Wiley, New York, USA.
  • Project Management Institute (2000). A Guide to the Project Management Body of Knowledge, Project Management Institute, Newtown Square, Pennsylvania, USA.
  • Kerzner, H., (1998), Project Management: A Systems approach to Planning, Scheduling and Controlling, John Wiley, New York.
  • Nicholas, J. M. (2001), Project Management for Business and Technology: Principles and Practice, Prentice Hall India, New Delhi.
  • Bruke, R. (2004), Project Management Planning and Control Techniques, Wiley, Chichester.
  • Goldratt, E. M., (1997), Critical Chain, North River Press, Great Barrington, MA, USA.