Written in lucid language, this valuable text discusses fundamental concepts of von Neumann algebras including bounded linear operators in Hilbert spaces, finite von Neumann algebras, linear forms on algebra of operators, geometry of projections and classification of von Neumann algebras in an easy to understand manner. The revised text covers new material including the first two examples of factors of type II^1, an example of factor of type III and theorems for von Neumann algebras with a cyclic and separating vector. Pedagogical features including solved problems and exercises are interspersed throughout the book.