Implications of Economic Decision-Making to the Project Manager

Brian J. Galli ()

Chapter Chapter 21 in R&D Management in the Knowledge Era, 2019, pp 553-573 from Springer

Abstract: Abstract The managers and owners of the organization do exist in an agent-principal relationship, whereby the former is expected by the latter to maximize their return. However, for managers to avoid conflict with their principals, they have been tasked with making critical decisions to ensure that the project is executed in accordance with the established plan. Decision-making is critical to the success of any project, and it is among the most important roles that a manager commits to. The manager has to lead and motivate the project management team and must be the source for the right equipment and materials. Also, the manager must create an environment conducive to the full realization of a project’s primary goals. Since a project is a temporary undertaking that is meant to achieve a specific agendum, it has to be executed in a manner that is fully cognizant of resource limitations. Therefore, the decisions that are made have to involve the effective allocation of resources to the various units of the project.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:innchp:978-3-030-15409-7_21

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DOI: 10.1007/978-3-030-15409-7_21

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