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Title: The Benefits of Project Management: Financial and Organizational Rewards to Corporations by C. William Ibbs, Young-Hoon Kwak ISBN: 1-880410-32-X Publisher: Project Management Institute Pub. Date: September, 1997 Format: Paperback Volumes: 1 List Price(USD): $59.95

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Average Customer Rating: 2 (1 review)

Rating: 2
Summary: Not updated material
Comment: Lord Rutherford expressed the opinion that an opinion does not carry much weight unless it is can be expressed numerically.
Dr. Ibbs' work at Berkley is outstanding in that it expresses numerically the basis for our general belief that Project Management adds value to a company's operations.

Regrettably, the book being reviewed is five years old, based on research done at least six or seven years ago. The research is also very limited in scope, being the first part of a two part assignement from the Project Management Institute.

Fortunately, the second part, based on a statistically significant body of research, is currently being printed by PMI and should be available at about mid-2002.

From previews of the work studied at Dr. Ibbs' lectures, it appears that waiting for the completed work will be very much worthwhile because it provides, in dollar terms that executives can understand, the benefits PM brings to corporations, the way the ROI of their costs can be calculated, how a company's weaknesses can be determined and prioritized for strengthening, and the cost of improving these specific elements of management systems.