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 projectís 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 teachersí and studentsí evaluations, we recommend using the suggested approach in project management education.

Keywords: project management; teaching; value-focused models, project decisions, education