Game Theory as a Tool of Project Management

Katerina HrazdilovaBockova, Gabriela Sláviková, Juraj Gabrhel

Abstract


This paper discusses the importance of properly set up of communication strategy in project management.

It describes one of the lesser known methods of creativity in communication - game theory. Game theory is relatively young mathematical discipline with the wide possibility of application into lots of scientific fields. From its beginning it is connected with the economy, but today it is the essential of many of managerial fields.

In presented paper we want to present the particular examples of the game theory use in economy and management, mostly in project management with the intention towards the Czech environment. We pay lots of attention to the use of the model of Prisoner´s dilemma; we will present surprising conclusions of practical problems through the game theory.

Next the paper illustrates the effect of the creative methods on the success of communication with all stakeholders of the project. It defines the proper setting of the communication strategy as one of the factor in the elimination of risks in projects. It judges the relation between the game theory and creativity towards the successful finalization of the project through the presentation of practical examples. It confirms the Bitlon’s  and Cumming´s (2014) hypothesis, that the use of game theory makes possible to understand the stakeholders´ needs and their interests in a better way and to finalize the project successfully.

This paper arose as one of the outputs of project KEGA No. 003/DTI-4/2014 with the title Diagnose system for identifying of competencies of managers of national and international educational projects.


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