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3 of 3 people found the following review helpful
on June 29, 2012
Format: Hardcover
When it comes to project management, it's really tough to do it right. Fixed cost projects are even more difficult and the approach that this book takes will definitely help. I like many things about this book. From simplifying the financials so that it becomes meaningful, to giving me a real 'scoreboard' updated daily, to honest communication with the customer and the guys on the floor. Excellently done gentlemen.

This book is quite candid about human relationship issues that naturally occur within a project. Some funny. Some, not so funny. This should really help me get past these. For example, it's going to help develop good character in people and give them well defined incentives to be open and honest about what's going on in the project. This part is great. A definite read because of this alone.

It's the kind of straight talk that should wake up not only project managers, but everyone from the exec's to the assembly worker. Excellent book guys. This book packs a punch. Lots of content in a short, easy to read book. Look forward to more books down the road!
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7 of 9 people found the following review helpful
on March 31, 2013
Format: Hardcover
This book is easy to read, rather entertaining, simple and to the point. This is of course good for a book aiming to be practical and applicable. To this extent, "Project Management for Profit" has achieved its goal.
Practitioners will probably enjoy Parts 2 and 3. It systematically lays out in simple terms what is already known by reasonable PMs.
Part 2 presents how to organize a reporting system indicating timely and accurately your project's current completion and spending status. The system introduced is simple, robust and down to earth.
Part 3 of the book introduces how to create documentation and to communicate around notions developed in Part 2. Again, this is presenting simple and practical tools.

So, will all Project Managers enjoy the book? Well, in my opinion, probably not!
Let's go back to Part 1.
The first part of the book presents as a revelation the necessity to have, in order to manage properly a project, a clear vision of current spending and current job completion. I wonder which PM needs this book to discover this truth! Even the most in-experienced PM or even a student with the most basic PM training should have gleaned this fact of life. Also presented as a big secret being disclosed, profit generated by a project is not directly proportional to the spending! Anyone who needed this book to discover that should have been removed long ago from any managerial position.
Likewise, in my views, the reporting system described is basic and can be easily developed without this book (if not already done by any PM who wants to keep visibility on his project). It is simple tracking and accounting. The communication system described in Part 3 is also relatively classical. Transparency, team involvement and accountability are not really new in a PM's tool box.
More worrying, "Project Management for Profit" ignores many topics of importance regarding profitability, such as cash flow management (how to generate profit if the project is bankrupted soon after starting) and indirect costs (overhead, insurances, currency risk, agency costs, etc.), just to list the most obvious. Some of the anecdotes presented are obviously oversimplified - too bad for the learning experience! In this respect, the book is obviously not for beginners, as it might trap them by its reduced scope and oversimplification.
No other aspects of project management are developed in the book (time management, risks, etc.), which might be a choice by the authors, in order to put more focus on their main message.

I have a mixed impression of this book. Messages are clear and simple, and presented in an easy way, pleasant to read. But, this book throws basic truisms at readers as if they were extraordinary ground breaking information, and presents the simplest tracking system as if it was rocket science. Who should read this book? The level of PMs targeted by this book is below any reasonable professional standard regarding costs and cash flow recognition. It could save you time if you are about to start your first ever project, or gives you an easy read, reinsuring about what you already know if you have more experience.
I gave 3 stars because it is not a bad book. It just has a limited scope and some overstatement in its presentation.
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2 of 2 people found the following review helpful
on July 15, 2012
Format: HardcoverVerified Purchase
Overall, the authors provide a good system for organizing projects and forcing staff to forecast needed hours/materials/etc. This is something that is very important. However, there were several modifications that needed to be made if you aren't project managing something that needs to be physically built (like a roller-coaster). I was a little disappointed that no excel sheets with the book's formulas weren't provided as an example. The website does have a calculator, but not something that you can download and customize. It appears the authors may be building their own software to sell, which is fine, but an excel sheet would help readers implement the process.
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1 of 1 people found the following review helpful
on March 13, 2013
Format: Hardcover
Over the course of my career in the high technology sector I have observed numerous, complex projects that have run well past their due dates and budgeted costs, not to mention experiencing exponential scope creep. As a Prince II certified project manager, I've often felt the information I needed to manage projects effectively was either obfuscated or lagged so far behind the current situation as to render it of little real world value. Project Management for Profit is a revelation on how to structure an efficient process to manage a project based on transparent use of real time data. I can't wait to implement the principles and tools outlined in the book on my next project!
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1 of 1 people found the following review helpful
on June 22, 2012
Format: Hardcover
It's about time someone provided a simple to understand and easy to implement approach to project management. Joe Knight and his co-authors have done just that through the Setpoint system as detailed in Project Management for Profit. By following the process outlined in their book, you won't have to worry about projects spinning out of control because of budget and scheduling surprises that can turn a real moneymaker into a financial disaster. Thanks, Joe, for providing me a tool that will inevitably benefit my bottom line!
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1 of 1 people found the following review helpful
on August 24, 2012
Format: Hardcover
The book engaged me from the introduction. Too often we get stuck in traditional ways of running business and projects. This book opens our eyes in to using some good things from those traditions but replacing some less-than-good management behaviors with common sense money-making behaviors. I highly recommend it to owners, executives, and project managers. Especially where materials or components are involved.
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on September 11, 2012
Format: Hardcover
Joe Knight and team have put together a very easy to read but powerful book on a system to keep projects profitable. We are big fans of Joe Knight's "Financial Intelligence" and use it in our business literacy program at Electronic Arts. So I was eager to read the book and pleased to find that it's a down to earth, very practical book for project leaders and senior management. Easy to follow examples, interesting stories, fast read.

From my prior management consulting career, the only financially successful project focused companies (construction, software, events management, highway builders) we saw also had very explicit project management systems that also considered profit at the same time. No coincidence. Wish we had this book to work with those that lacked a good "business system."
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on April 3, 2013
Format: Hardcover
"Project Management for Profit" is a nice practical book, suited especially for those familiar with the project management techniques and wanting more specific and realistic advice. It is very cost-management oriented and as such can be more suitable for accountants/finance managers than for the engineering managers. Still, it adds value on multiple levels and is easy to read. All in all, an interesting alternative approach to the project management in a Harvard business case style.
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on September 21, 2013
Format: Hardcover
The book is easy to understand and read. The main concept of GP/ H is stated and made easy for the reader to follow.

My only gripe is that it is overly focused on Joe Knight's company Setpoint and makes it sound like advertising from time to time.

Overall a very good book, easy to read and easy to follow. A good modernization to PM financials
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on May 10, 2013
Format: Kindle EditionVerified Purchase
Practical and easily understandable. A much improved method on our old way of doing things. Well worth while for every project manager
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