Research and Teaching Opportunities in Project Management
Abstract
One-fifth of the world’s economic activity, with an annual value of $12 trillion, is organized using the business process of project management. This process has exhibited dramatic growth in business interest in recent years, with a greater than 1,000% increase in Project Management Institute membership since 1996. Contributing to this growth are many new applications of project management. These include IT implementations, research and development, software development, corporate change management, and new product and service development. However, the very different characteristics of these modern projects present new challenges. The partial resolution of these challenges within project management practice over the last 20 years defines numerous interesting opportunities for academic researchers. These research opportunities make use of a remarkably broad range of methodologies, including robust optimization, cooperative and noncooperative game theory, nonlinear optimization, predictive analytics, empirical studies, and behavioral modeling. Furthermore, the $4.5 trillion that is annually at risk from a shortage of skilled project managers, and the 15.7 million new jobs in project management expected by 2020 provide great opportunities for contributions to project management education. These educational opportunities include the integration of case studies, analytics challenges, online simulations, in-class games, self-assessment exercises, videos, and guest speaker presentations, which together form an appealing course for both business and engineering schools.
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