SEVENTH EDITION

PROJECT MANAGEMENT
A Managerial Approach

SEVENTH EDITION

PROJECT MANAGEMENT
A Managerial Approach

Jack R. Meredith
Broyhill Distinguished Scholar and Chair in Operations Wake Forest University

Samuel J. Mantel, Jr.
Joseph S. Stern Professor Emeritus of Operations Management University of Cincinnati

John Wiley & Sons, Inc.

 DeDication
To Avery and Mitchell, from “papajack.” J. R. M.

To Maggie and Patty for their help, support, and affection. S. J. M.

VICE PRESIDENT & EXECUTIVE PUBLISHER Don Fowley EXECUTIVE EDITOR Beth Golub ASSOCIATE EDITOR Jen Devine MARKETING MANAGER Carly DeCandia DESIGN DIRECTOR Harry Nolan SENIOR DESIGNER Kevin Murphy SENIOR PRODUCTION EDITOR Patricia McFadden SENIOR MEDIA EDITOR Lauren Sapira PRODUCTION MANAGEMENT SERVICES Ingrao Associates This book was set in by GGS Book Services PMG and printed and bound by RRD/Willard. The cover was printed by

RRD/Willard.
This book is printed on acid free paper.  Copyright © 2009 John Wiley & Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc. 222 Rosewood Drive, Danvers, MA 01923, website www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030-5774, (201)748-6011, fax (201)748-6008, website http://www.wiley.com/go/permissions. To order books or for customer service, please call 1-800-CALL WILEY (225-5945). ISBN-13