The course aims at rendering students familiar to the project management and programming by using modern methods and techniques.

At the completion of the course we expect that students will have acquired theory and will be comfortable with algorithms and mathematical models as well as generic and specialized software so that to make thoughtful and sound decisions and they can efficiently manage a large spectrum of problems related with project management. They will be capable to document, to quantify, and to evaluate alternatives for decision analysis, and also to undertake project and investment appraisal as well as to optimize business operations.  

• Decision making
• Work autonomously
• Work in an international frame
• Capacity to criticize and self-knowledge
• Advance free, creative  and causative thinking

• Introduction : project characteristics, responsibilities of project managers, activities and life cycle of projects, conditions of success 
• Project economics – quantitative techniques  for decision making
• Maths of financial transactions – Time value of money
• Financial maths – annuities – loans
• Project appraisal : investment appraisal, sensitivity analysis, break even, expected value, utility theory
• Life-cycle costing : Cost items and analysis, uncertainty, life-cycle cost model
• Evaluation and project selection : cost-benefit and cost-effectiveness analysis, decision making under uncertainty – decision trees
• Probabilities and risk. Subjective probability distributions. Expected value criterion. Bayes theorem and information value
• Activity based approach : management, objective, time, cost, quality, human resources, risk, inputs, innovation
• Organizational model, work breakdown structure
• Mathematical programming for project management: metwork and transport problems.
• Project scheduling : GANTT graph, Critical Path Method, Crashing
• Program Evaluation and Review Technique (PERT) – simulation
• Software hands-on: examples: new product development, construction projects, R&D
• Resources management : classification, smoothing and resource allocation, priority rules, critical chain
• Budgeting and project monitoring: Design, management techniques, cash flow, cost monitoring and time scheduling

Assessment Method

Ι. Written final examination (70%).
- Questions of theoretical knowledge.
- Theoretical problems to be resolved.

ΙΙ. Laboratory exercises – mid-term examination (30%).

III. Group and autonomous assignments (%).

- Recommended Book Resources:

• Avraham Shtub, Jonathan F. Bard, Shlomo Globerson, Project Management: Processes, Methodologies, and Economics (2nd Edition) Pearson, Prentice Hall, 2005

- Recommended Article/Paper Resources:

• T. Klastorin, Project Management: Tools and Trade offs, Pearson Learning Solutions, 2nd Edition, 2011.
• Rory Burke, FUNDAMENTALS of PROJECT MANAGEMENT - Tools and Techniques, Burke Publishing 2014
• Schoemaker, P. J.H., “The Expected Utility Model: Its Variants, Purposes, Evidence, and Limitations,” Journal of Economic Literature, June, 1982, 20(2), 529-563.