INTEGRATING
TRADITIONAL AND INNOVATIVE
VALUE-FOCUSED
MODELS
IN PROJECT
MANAGEMENT
TEACHING
Izack Cohen, The Journal of Modern Project Management, January-April 2015
Abstract
Modern project management approaches focus on maximizing
the value realized from projects; yet, many project management textbooks and
courses do not incorporate this aspect into their curriculum. This paper
reports on our experience in developing and teaching project management courses
that integrate the element of maximizing project value in their syllabi. The
suggested teaching approach uses traditional and innovative models to teach
students how strategic and tactical project decisions should be made. Students
are introduced to models that support strategic decisions such as matching a project
objective to a business case, deciding on a product configuration, and
developing a project plan. They also learn about tactical decisions such as
ones that are made during a project’s execution and control, which are also
important for realizing all the project benefits. Thereafter, students use an
innovative model that links strategic and tactical decisions, implemented in a
simulation tool, to experience the various tradeoffs that affect project value.
Based on teachers’ and students’ evaluations, we recommend using the suggested
approach in project management education.
Keywords: project management; teaching; value-focused
models, project decisions, education