This article argues that critical path thinking (CPM, PERT, Gantt chart) is not appropriate where project goals are poorly defined. Contingency thinking is better.
Content: Article | Authors: Arnoud De Meyer, Christoph Loch, Michael Pich | Source: European Business Forum (EBF) | Subject: Project Management
Nearly every entrepreneur faces this dilemma at one point or another: continue borrowing to keep the company afloat or face reality, pay out creditors, and call it a day. For Singaporean serial entrepreneur, Marianna Tan, the day of reckoning came in February 2001. As Professor Michael Pich and Mei Qi explain in this recent case, Tan’s company, CargoExchange.Net Pte Ltd, had just enough … [ Read more ]
Content: Case Study | Authors: Mei Qi, Michael Pich | Source: INSEAD | Subject: Entrepreneurship | Company: CargoExchange.Net Pte Ltd
It is common for projects to miss budgets, schedules and opportunities, in spite of the heroic efforts of the project manager to keep things on track. There is a need for the project management tool-kit to expand beyond task management. Professors Arnoud De Meyer, Christoph Loch and Michael Pich classify the associated and often-neglected uncertainty, and they suggest alternative techniques for project management, depending on … [ Read more ]
Content: Article | Authors: Arnoud De Meyer, Christoph Loch, Michael Pich | Source: INSEAD Knowledge | Subject: Project Management