Managing the Unknown offers a new way of looking at the problem of managing projects in novel and unknown environments. From Europe's leading business school, this book shows how to manage two fundamental approaches that, in combination, offer the possibility of coping with unforeseen influences that inevitably arise in novel projects: * Trial-and-Error Learning allows for redefining the plan and the project as the project unfolds * Selectionism pursues multiple, independent trials in order to pick the best one at the end Managing the Unknown offers expert guidelines to the specific project mindsets, infrastructures, and management methods required to use these project management approaches and achieve success in spite of unforeseen obstacles. This book equips readers with: * Causal explanations of why unforeseeable factors in novel projects make traditional project planning and project risk management insufficient * Directly applicable management tools that help managers to guide novel and high-uncertainty projects * Real-world case studies of both successful and unsuccessful approaches to managing high uncertainty in novel projects

Managing the Unknown: A New Approach to Managing High Uncertainty and Risk in Projects

Business & Money

Loch, Christoph H.

DeMeyer, Arnoud

Pich, Michael

Management & Leadership

wiley

Project Selection Under Uncertainty is the result of a five-year research program on the selection of projects in New Product Development (NPD). Choosing the New Product Development portfolio is of critical importance in today's business environment. The NPD portfolio has considerable strategic effect on the "middle term" success of a business. This book takes a step in developing a theory that addresses the need for quantitative prioritization criteria within the broader strategic context of the R&D portfolios. Its foundation lies in mathematical theory of resource-constrained optimization with the goal to maximize quantitative returns. The book seeks to broaden the portfolio discussion in two ways. First, simplified models - appropriate for the data-poor NPD context - are developed, which attempt to illuminate the structure of the choice problem and robust qualitative rules of thumb, rather than detailed algorithmic decision support. Such robust rules can be applied in the R&D environment of poor data availability. Second, the annual portfolio review is not the only important choice in resource allocation. In addition, the book discusses how ideas might be pre-screened as they emerge, and how projects should be prioritized once they are funded and ongoing.

Project Selection Under Uncertainty: Dynamically Allocating Resources to Maximize Value (International Series in Operations Research & Management Science, 69)

Kavadias, Stylianos

Economics

Springer

Project Selection Under Uncertainty: Dynamically Allocating Resources to Maximize Value (International Series in Operations Research & Management Science)

Finance

What does "excellent manufacturing management" mean? Management texts to date have emphasized that it is, above methods such as SPC or TQM, a matter of "intangibles" and "culture". This book takes the myth out of management excellence; it can be learned and practiced. First, manage the three core processes, strategy deployment, product and process development, and the supply chain. And secondly, pay attention to the dimension of management quality, direction setting, integration and delegation, communication, participation, measurement, and employee development. This book explains management quality and demonstrates how it is implemented, with ten plant tours through world-class factories from different industries.

Industrial Excellence: Management Quality in Manufacturing

Van der Heyden, Ludo

van Wassenhove, Luk N.

Huchzermeier, Arnd

Escalle, Cedric

“He who stops getting better has stopped being good. ” Hans Schneider, General Manager of the Siemens Amberg Electronics Factory, Industrial Excellence Award overall winner 2007 There is a general perception that inflexible labor markets and high labor costs are contributing to a massive displacement of manufacturing jobs and investment from Western Europe to Eastern Europe and Asia. The debate in Western Europe is highly charged, but sometimes ill-informed. It is true that some low-skilled jobs are moving into low labor cost countries. On the other hand, many more highly skilled jobs are actually being created in the highly developed countries. The total impact on Western economies is much more complicated, and there is some evidence of important benefits. In this book, we showcase examples of excellent industrial management that has managed to create substantial job growth in manufacturing. This book is based on 14 years’ observation of the Industrial Excellence Award (IEA) in Germany and France, the first ten years of which we summarized in our previous book, Industrial Excellence (Springer 2003), and on an additional five years of obser- tion between 2002 and 2007. We have seen that management’s first and noble responsibility to society is to achieve competitiveness. Competitive organizations create growth and jobs, even in Western Europe. Competitiveness requires clearly articulated strategic positioning, together with excellent execution, and mobili- tion of all employees to apply their abilities and to pull in one direction.

Management Quality and Competitiveness: Lessons from the Industrial Excellence Award

Chick, Stephen

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