The Illusion of Control: Project Data, Computer Algorithms and Human Intuition for Project Management and Control

This book explores the growing importance of project data for project scheduling, risk analysis, and control. It discusses the use of computer algorithms, human intuition, and project data for managing projects under risk, and reviews the basic components of data-driven project management. It also highlights the importance of artificial project data for academics and describes the specific requirements such data must meet. The book discusses a wide variety of statistical methods available to generate these artificial data and shows how they have helped researchers develop algorithms and tools to improve decision-making in project management. It also examines the relevance of project data from a professional standpoint and introduces a new approach to data collection, generation, and analysis for creating project databases.

Format: Hardback
Length: 330 pages
Publication date: 05 July 2023
Publisher: Springer International Publishing AG

This comprehensive book delves into the increasing significance of project data in project scheduling, risk analysis, and control. It explores the relevance of project data for researchers and professionals, highlighting the complexities involved in collecting, processing, and utilizing such data. The book's central theme, known as data-driven project management, encompasses the use of computer algorithms, human intuition, and project data to manage projects under risk. It provides a review of the fundamental components of data-driven project management, encompassing the latest computer and machine learning algorithms and statistical methodologies for project risk and control. The book emphasizes the importance of artificial project data for academics and outlines the specific requirements these data must meet. It further discusses a diverse range of statistical methods employed to generate artificial data, showcasing their role in developing algorithms and tools to enhance decision-making in project management. Moreover, the book examines the relevance of project data from a professional perspective, outlining how professionals should collect empirical project data for improved decision-making. Finally, the book introduces a novel approach to data collection, generation, and analysis for creating project databases, making it valuable for both academic researchers and professional project managers.

Weight: 736g
Dimension: 163 x 241 x 26 (mm)
ISBN-13: 9783031317842
Edition number: 1st ed. 2023