Game Theory in Management

Michael Hatfield, PMP, CCC, EVM, is probably best known as the author of the long running column in PMNetwork magazine, Variance Threshold. Besides PMNetwork, his work has appeared in the Project Management Journal, Cost Engineering, Gantthead, People on Projects, The Measurable News, and even in the Nuclear Weapons Journal. He is the author of Things Your PMO Is Doing Wrong (PMI Publishing, 2008). He has worked as an entry-level technician for the Air Force Weapons Laboratory's Electro-Magnetic Pulse (EMP) test sites, as the director of a National Laboratory's Project Management Office overseeing a budget of $1.3 Billion (USD), and many very interesting jobs in-between. Michael can be reached at varthold@aol.com, and software solutions based on the theories put forth in this book are available at www.austintechpubs.com.

• Part 1 Win Using the Rules of the Game; Chapter 1 Chess Openings and Risk Management; Chapter 2 Introduction to Game Theory, and a Code of Nature; Chapter 3 Game Theory and Cartage Schemes; Chapter 4 Network Theory and Games; Chapter 5 Win Using the Rules of the Game; Part 2 The Upper Limit; Chapter 6 Deconstructing Game Theory; Chapter 7 The Pieces Move Like This …; Chapter 8 Deconstructing Risk Management; Chapter 9 On the Limits of Knowledge and Management Information; Part 3 The Structured Solution; Chapter 10 Managing to the Corner Cube; Chapter 11 Corner Cubes and Robustness; Chapter 12 Strategic Management and the Rehabilitation of Game Theory and Risk Management; Chapter 13;

'The subject matter is fairly advanced, Michael's writing style is free of the ponderousness that afflicts so many other books on the subjects of management science or game theory. He makes his points clearly and entertainingly. Just the term epistemology - the study of knowledge and its limits - I found rather daunting. Michael's employment of game theory is thorough, complete, and, best of all, crystal clear. Game Theory in Management is a must-read for executive or strategic managers, and especially for those who seek to successfully begin a PMO.' Mihaela Popa-Simil, PhD, MBA 'Having been entertained for eleven years by Michael Hatfield's work for PM Network magazine, I knew that I would like this book. But after forty years as a manager, I didn't know I would learn so much from it. Whether analyzing the origins of chess, the miscalculations of World War II, or the perfidy of Enron's energy traders, Michael moves effortlessly across the field of decision making, all in his trademark, easy-to-read style. Most of all, he shows us what game theory can - and can't - do for us as practicing managers.' Bud Baker, Professor of Management, Wright State University, USA ’The author is an extensively experienced, professionally qualified and internationally recognized project management writer and practitioner...Game Theory in Management findings and conclusions are so contrary to generally accepted and applied management practice, it could be a prelude to a paradigm shift.’ American Society for the Advancement of Project Management ’It is much more than just Game Theory as applied to Management Decision Making. It is an excellent review of several management theories used for decision making and identifies their limitations and boundaries... once the PMP certificate is acquired, this book should be in every Project Manager’s library.’ PM World Journal, November 2012