PROJECT MANAGEMENT

The Role Of Project Management In Achieving Success Of Projects

[Name of the Institute]

Abstract

Many projects are naturally complex undertakings. Thus, the fact that all over the world one can find examples in the press of multi-million dollar projects failing to achieve the proper outcomes should not be surprising. Many projects fail to meet the original budget, schedule, or requirements objectives, resulting in lost revenue, dissatisfied stakeholders, and subpar products, services, and outcomes. Researchers and practitioners have examined Project Management from various perspectives in an effort to delineate those factors that contribute to success and failure, as well as those that do not add value. As a discipline, Project Management has improved considerably as a result of the research conducted throughout the 20th century. Much of this research has focused on tools, techniques, and best practices and standards in an effort to improve success. Therefore, this is the overview of the concept of Project Management. This paper aims at evaluating the role of project management in determining the role of project management in the success or failure of the project. The study had relied on primary and secondary research in order to understand the relationship. Primary research was carried out through qualitative interview sessions. The questionnaire for the interviews was designed in the light of the propositions made in the past researches.

Abstracti

Introduction1

Background2

Previous Research on Project Success3

Problem3

Aim of Study4

Objectives and Scope4

Research Question5

Literature Review5

The Channel Tunnel Case6

The Aims and Goals of Project Management7

The Importance of Time in the Project Management8

Conceptual Framework and Propositions9

Methodology9

Data Analysis, Findings and Discussions10

Conclusions11

Recommendations12

Areas of Future Research13

References14

Appendices16

Appendix A16

Appendix B20

Appendix C23

Appendix D26

The Role of Project Management in Achieving Success of Projects

Introduction

Project management has developed to control, plan, manage and co-ordinate the diverse and complex operations of modern commercial and industrial large projects. The common cause of all these projects is the projection of activities and ideas into new endeavours. The objective of project management is to forecast and analyse all possible problems and dangers that may disrupt the defined objectives of the projects. The prediction and analysis is the starting point of the project management. The real test of the project management starts with the management and planning of all possible and identifiable problems and danger with the limits of time and money. The project is said to be successful if it has achieved its desired result within its defined boundaries of time, quality and budget (Lock, 2007, pp. 32).

The presence of uncertainty and risk element makes the completion of the projects on time and tends to put pressure on the financial side of the project. The on time completion of most of the advanced and complex projects is viewed with uncertainty due to the presence of these risk factors. It is the duty of the project manager to forecast these risk factors and make provision accordingly. It is true that some of the risk factors are difficult to predict and even impossible to manage. For example, for large construction projects the, the weather element is a risk ...