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For courses in project, production, and operations management. A concise and focused text on modern project management with a practical approach Concise, focused, and practical, this Third Edition of Project Management: Processes, Methodologies, and Economics presents the tools and techniques that are most suited for modern project management. The authors show the relationship between project planning and implementation, from budgeting to scheduling and control. The text aims to identify the components of modern project management and show how they relate to the basic phases of a project, with a focus that prioritizes integrated concepts over isolated methodologies. Much of the material specifically relates to the Project Management Body of Knowledge (PMBOK), published by the Project Management Institute. This text is a thorough reference for readers of all backgrounds. The Third Edition includes a new section on Lean project management, a new chapter on simulation, and more.