Use of Project Simulation in a Masters in Engineering Project Management
A substantial number of Project Managers control projects based on financial constraints generated from the “estimating/approval stages/construction” process, and as a result are responsible for the cash they request and spend. Alternatively, at the other extreme, they are given the budget and attempt to operate within that constraint.
Experiences of teaching on an in-house programme to a large group of Project Managers, who display a wide range of experience & responsibilities, has shown that the deep understanding of how money flows through projects, the cost of funding capital and the return on investment is very limited.
This paper will present the use of a project Simulation package designed to integrate Project Planning, Project Team effectiveness, Contract Management and Financial management, designed overcome that knowledge deficiencies. The simulation is the introductory class from eight specialist classes in Project Management delivered as a company CPD programme by the University of Strathclyde, Glasgow, UK, as part a cross disciplinary programme leading to the award of MSc in Engineering Project Management.
PMI Talent Triangle Skill: Technical Project Management