The Value of Simulation for Learning Project Management

2018 ◽  
pp. 21-39
Author(s):  
April H. Reed ◽  
Mark G. Angolia
Keyword(s):  
Project Management ◽  
Management Education ◽  
Real Life ◽  
Traditional Teaching ◽  
Risk Environment ◽  
Immediate Feedback ◽  
Vast Number ◽  
Life Project ◽  
Traditional Teaching Methods ◽  
Management Concept

This chapter will explore the value of using computerized simulation case studies to enhance learning in project management education at the undergraduate and graduate college levels. Traditional teaching methods of textbook reading and lectures provide students with a vast number of concepts, processes, tools, and procedures for managing projects. However, it is difficult for students to translate that learning into use in real-life project management situations. Simulations are filling that gap by offering a low-risk environment with lifelike scenarios where students must determine the appropriate project management concept to employ and how to execute it. Simulations allow students to use their newly learned concepts and critical thinking for decision making while receiving immediate feedback which allows the student to make adjustments. This chapter will also discuss the value of these simulations based on the timing of when to introduce them to students during the semester.

The Value of Simulation for Learning Project Management

2021 ◽  
pp. 568-580
Author(s):  
April H. Reed ◽  
Mark G. Angolia
Keyword(s):  
Project Management ◽  
Management Education ◽  
Real Life ◽  
Traditional Teaching ◽  
Risk Environment ◽  
Immediate Feedback ◽  
Vast Number ◽  
Life Project ◽  
Traditional Teaching Methods ◽  
Management Concept

This chapter will explore the value of using computerized simulation case studies to enhance learning in project management education at the undergraduate and graduate college levels. Traditional teaching methods of textbook reading and lectures provide students with a vast number of concepts, processes, tools, and procedures for managing projects. However, it is difficult for students to translate that learning into use in real-life project management situations. Simulations are filling that gap by offering a low-risk environment with lifelike scenarios where students must determine the appropriate project management concept to employ and how to execute it. Simulations allow students to use their newly learned concepts and critical thinking for decision making while receiving immediate feedback which allows the student to make adjustments. This chapter will also discuss the value of these simulations based on the timing of when to introduce them to students during the semester.

scholarly journals Impact of Stem Education on Academic Achievement of Elementary School Students‟ of Delhi

2019 ◽  
Vol 9 (2) ◽  
pp. 3275-3278
Keyword(s):  
Academic Achievement ◽  
Stem Education ◽  
Teaching Methods ◽  
Life Experiences ◽  
Real Life ◽  
Traditional Teaching ◽  
School Students ◽  
Traditional Teaching Methods ◽  
Before And After ◽  
The Difference

STEM education does not follow traditional teaching methods but is based on interesting and critical thinking activities. It is important to increase students' interest and awareness of STEM educational activities to encourage them to learn STEM. STEM-based education can help students or children learn and participate in activities based on real-life experiences. We need to let them know that what they learned in STEM today is not only building their own future, but also the cornerstone of the country. Since no study has been done to know the difference in the academic achievement and basic attitude of the students towards this approach based on gender school types (government and private); before and after the conduction of STEM programme this study will give STEM practitioners strategies to design and integrate STEM content purposefully for the students ; so that students can develop a positive attitude towards STEM programme which will in turn help them to acquire higher academic achievement and make study more effective. This study will also through light on the teachers to make STEM programme more effective. This study will also be of immense help to the school authorities while opting for better STEM programme

scholarly journals Sustainability and Project Management – The Drivers and Benefits

2017 ◽  
Vol 5 (1) ◽  
pp. 87-103
Author(s):  
Hussaen Ali Hassan Kahachi
Keyword(s):  
Project Management ◽  
Sustainable Management ◽  
Social Economic ◽  
Real Life ◽  
Economic Benefits ◽  
Environmental Drivers ◽  
Life Project ◽  
Potential Benefits

This research is looking at the concept of sustainable project management and its importance in real life project management. Firstly, the research will examine the meaning of sustainability and sustainable management. Next, it will examine, evaluate and classify the different drivers for the integration of sustainability in project management as social, economic, legislative and environmental drivers. Then, the research will discuss the potential benefits of implementing sustainability in project management throughout project's lifecycle. The researcher concluded that there are many environmental, social/ethical, legislative and economic benefits derived from integrating sustainability into project management throughout project's lifecycle, however, there are some restrictions as the tools for integration are still under development.

Using bonus and awards for motivating project employees

2016 ◽  
Vol 24 (7) ◽  
pp. 4-7 ◽  
Author(s):  
Chuck C.H. Law
Keyword(s):  
Project Management ◽  
Work Performance ◽  
Life Experience ◽  
Employee Performance ◽  
Human Resources Management ◽  
Real Life ◽  
International Assignments ◽  
Host Countries ◽  
Content Type ◽  
Life Project

Purpose This paper aims to discuss the appropriate uses of bonuses and award in recruiting and motivating project employees. Design/methodology/approach It is a conceptual discussion of human resources management (HRM) practices, supported by the author’s professional experience and observations in real-life project settings. Findings Bonuses and awards not only provide extrinsic financial rewards but also provide positive feedback to recipients. Extrinsic financial benefits (such as sign-on bonus, and retention bonus) may enhance the total compensation package and positively affect an employee’s job-related decision at least for the short term. He/she may accept a job offer or choose to stay on a project longer until the completion of a critical milestone because of the bonuses. However, positive recognition of employee performance (through the use of spot award, holiday award, or non-financial certificate of appreciation) is also a useful means to motivate employees. In addition, managers on international assignments need to pay attention to practices specific to host countries. Practical implications The practices discussed in this paper are based on real-life experience and observations. When they are used properly in conjunction with other HRM arrangements, bonuses and awards can be used to mitigate and delay turnover, and to motivate employees to increase their work performance. Originality/value This paper not only draws on theories and information from the HRM and project management literature but also draws from the author’s own management experience. Thus, the relevance and validity of the proposed concepts and practices have been proven in actual functional and project management settings.

scholarly journals Teaching Time Value Of Money Using An Excel Retirement Model

2012 ◽  
Vol 5 (6) ◽  
pp. 663-676
Author(s):  
Fernando Arellano ◽  
Liz Mulig ◽  
Susan Rhame
Keyword(s):  
Financial Literacy ◽  
Model Building ◽  
Business Students ◽  
Real Life ◽  
Retirement Planning ◽  
Traditional Teaching ◽  
Time Value Of Money ◽  
Time Value ◽  
Traditional Teaching Methods ◽  
Value Of Money

The time value of money (TVM) is required knowledge for all business students. It is traditionally taught in finance and accounting classes for use in various applications in the business curriculum. These concepts are also very useful in real life situations such as calculating the amount to save for retirement. This paper details a retirement model that can be built during class to teach TVM. While traditional teaching methods give small pieces of the TVM picture, then exercises to reinforce that partial knowledge, this model incorporates many TVM techniques into one Excel modeling exercise. The model incorporates both TVM functions that are included in Excel and other formulas that must be entered into Excel by the student modeler. Unlike some other articles that focus on how much should be saved annually assuming a constant salary, this exercise focuses on a percentage of income to be saved. The model also addresses an assumed growth factor in the salary and the issue of inflation. This modeling tool is presented to adults in graduate level classes, so it incorporates the fact that they might already have some savings coming into this retirement planning exercise. This method of teaching TVM has several objectives. Primarily, the exercise contributes to the learning of TVM concepts and techniques. It also shows how the equations modeled here can be used to solve retirement planning questions, while contributing to the personal financial literacy of students, and improving model building skills in Excel.

scholarly journals Combining Simulation-based Training and Flipped Classroom in Project Management Learning

2018 ◽  
Vol 8 (3) ◽  
pp. 85 ◽  
Author(s):  
Ivan Strygacz ◽  
Avraham Sthub
Keyword(s):  
Project Management ◽  
Flipped Classroom ◽  
Theoretical Perspective ◽  
Real Life ◽  
Lessons Learned ◽  
Life Project ◽  
Management Learning ◽  
Simulation Based ◽  
Knowledge Area ◽  
The Impact

Every year, countless projects are finished late, go over budget or end up being cancelled, often because their project managers and project teams lack the necessary tools and techniques to support their decision-making. Students of project management courses around the world have difficulty integrating the different knowledge areas of project management, after studying each knowledge area separately. Students then struggle and even fail when it comes to applying these concepts in a real-life project. Simulation-based training contributes to the solution of these problems by linking the concepts learned during a project management course and providing the experience of managing a simulated project that serves as preparation for real life. The objective of this research is to study the impact of simulation-based training and flipped classroom methodology on students learning project management. The contribution of this research is twofold. First, from a theoretical perspective, simulation-based training and flipped classroom methodology literature is enriched and broadened by applying both teaching tools. Second, from a practical perspective, an improvement in results, satisfaction and lessons learned was found when using simulation-based training under flipped classroom methodology compared to simulation-based training in a traditional classroom.

scholarly journals Innovation and Exploration of Teacher and Student Concert

2020 ◽  
Vol 4 (9) ◽  
Author(s):  
Yingbo Zhang
Keyword(s):  
Teaching Methods ◽  
Real Life ◽  
Traditional Teaching ◽  
Teaching Activities ◽  
Teacher Student ◽  
Art Form ◽  
Traditional Teaching Methods ◽  
Education Model ◽  
New Education ◽  
Different Levels

As an art form in which people express their thoughts and emotions effectively, music is not only closely connected with real life, but also a reflection of people's values and artistic cultivation. Teacher-student concerts can not only ensure the high-quality development of teaching activities, but also the new education model is easier to mobilize students' enthusiasm for classroom knowledge learning than traditional teaching methods. Therefore, this article starts from different levels and analyzes how to find a better way to innovate the form of teacher-student concerts, hoping to ensure a better rise in student learning quality.

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