ABSTRACT
This chapter explores contemporary modeling and simulation techniques applied to complex project management. It provides a theoretical overview of project management from the perspective of a systemic approach applying casual-loops diagrams, a methodology frequently used to produce a conceptual view of complex systems. The chapter traces typical causes of frequent project failures. It also provides a brief literature overview of project management simulations studies and gives some practical advice for project management practitioners. The chapter discusses an overview of three most widespread modeling techniques using some simple models of project management as examples. It presents an overview of three the most useful simulation approaches—system dynamics, discrete event simulation and agent-based modeling. Modeling plays a very significant role in our lives, yet people often underestimate how frequently they apply models. Modeling in a digital environment with the help of computer software tools has become a standard in business and engineering.
