ABSTRACT
Project management represents an excellent basis for integrating various management techniques such as operations research, operations management, forecasting, quality control, and simulation. Traditional approaches to project management use these techniques in a disjointed fashion, thus ignoring the potential interplay among the techniques. The need for integrated project management worldwide is evidenced by a 1993 report by the World Bank. In the report, the bank, which has loaned more than $300 billion to developing countries over the last half century, acknowledges that there has been a dramatic rise in the
number of failed projects around the world. Lack of an integrated approach to managing the projects was cited as one of the major causes of failure.
