Project Management Success Factors - Revision history

Jonina Thora: /* Methods and techniques for successful project management */

2019-03-02T15:35:09Z

Methods and techniques for successful project management

← Older revision		Revision as of 15:35, 2 March 2019
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	<ref name="axelos"/>		<ref name="axelos"/>

	Projects will always be exposed by risks, constraints and changes and if it weren’t for these three factors, project management would overall be so much simpler in many ways. Therefore, an important thing in order to perform successful project management is a continuous management of project-related risks, changes and constraints. Thus, it is recommended for a project manager and his/~~hers~~ team to have a work plan in which they document all activities that have been done and need to be done. This plan is called ''“the project management document”'' or the ''“project management concept paper”''. The document is to be prepared prior to the beginning of each project and is updated throughout the whole project when each individual task has been performed. Radujković and Sjekavica<ref name="radsje2"/> recommend the following structure of this specific document:		Projects will always be exposed by risks, constraints and changes and if it weren’t for these three factors, project management would overall be so much simpler in many ways. Therefore, an important thing in order to perform successful project management is a continuous management of project-related risks, changes and constraints. Thus, it is recommended for a project manager and his/her team to have a work plan in which they document all activities that have been done and need to be done. This plan is called ''“the project management document”'' or the ''“project management concept paper”''. The document is to be prepared prior to the beginning of each project and is updated throughout the whole project when each individual task has been performed. Radujković and Sjekavica<ref name="radsje2"/> recommend the following structure of this specific document:
	#General information about the project		#General information about the project
	#Business case		#Business case
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	#Other, as needed in each project as they vary from type to type.		#Other, as needed in each project as they vary from type to type.

	Now, with all of the above in mind, one would most likely achieve project management success and through successful project management, project success is more likely to occur. When a project manager has a clear vision on what kind of a project he is dealing with, he can prepare the project management concept paper with the success factors, listed in the table above, in mind. Regarding the management process, one can implement the PRINCE2 method as certified PRINCE2 projects tend to be successful because of successful project management procedures.		Now, with all of the above in mind, one would most likely achieve project management success and through successful project management, project success is more likely to occur. When a project manager has a clear vision on what kind of a project he/she is dealing with, he/she can prepare the project management concept paper with the success factors, listed in the table above, in mind. Regarding the management process, one can implement the PRINCE2 method as certified PRINCE2 projects tend to be successful because of successful project management procedures.

	==Limitations==		==Limitations==

Jonina Thora: /* The value of project management */

2019-03-02T15:34:11Z

The value of project management

← Older revision		Revision as of 15:34, 2 March 2019
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	''The Balanced Scorecard-ROI Metric:''		''The Balanced Scorecard-ROI Metric:''
	*Two approaches:		*Two approaches:
	#Balanced scorecard - goals and measures in four perspectives: financial, internal business, innovation and learning, and customer. When all these are combined, the manager tends to improve his skills in decision making and problem solving.		#'''Balanced scorecard''' - goals and measures in four perspectives: financial, internal business, innovation and learning, and customer. When all these are combined, the manager tends to improve his skills in decision making and problem solving.
	#Balanced scorecard ROI metric – uses the same approach but more emphasis is on quantifying any value.		#'''Balanced scorecard ROI metric''' – uses the same approach but more emphasis is on quantifying any value.

	''Resource-Based View Metric:''		''Resource-Based View Metric:''

Jonina Thora: /* Big Idea */

2019-03-02T15:19:25Z

Big Idea

← Older revision		Revision as of 15:19, 2 March 2019
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	==Big Idea==		==Big Idea==
	Project management success may be defined an “achievement of convergence about common understanding of the set of project objectives”.<ref name="alderman"/> As for the definition of “project success”, it is a difficult thing to define. Some authors even presume that readers know what is meant by a “project success” and “project failure”. According to Ika<ref name="ika"/>, the only certain thing in project management is that “success is an ambiguous, inclusive and multidimensional concept” and the definition of it relies on the context in each project. The success of a project can also be described with words such as efficiency and effectiveness.<ref name="ika"/>		Project management success may be defined as an “achievement of convergence about common understanding of the set of project objectives”.<ref name="alderman"/> As for the definition of “project success”, it is a difficult thing to define. Some authors even presume that readers know what is meant by a “project success” and “project failure”. According to Ika<ref name="ika"/>, the only certain thing in project management is that “success is an ambiguous, inclusive and multidimensional concept” and the definition of it relies on the context in each project. The success of a project can also be described with words such as efficiency and effectiveness.<ref name="ika"/>

	The success of a project is related to time, cost and quality performance but the time/cost/quality triangle is better known as the “iron triangle” or the “golden triangle”.<ref name="ika"/> However, many projects have been delivered within time, cost and quality constraints but are still considered as a failure. At the same time other projects have exceeded the triangle constraints but are still considered as successful projects.<ref name="pinto">Pinto, J. K., Slevin, D. P. Critical success factors across the project life cycle: definitions and measurement techniques. Project Management Journal, 1988; 19(3), 67–75.</ref> Therefore, there is a difference between a successful project and project management success. Most authors agree that a success in a project may be achieved through successful project management.		The success of a project is related to time, cost and quality performance but the time/cost/quality triangle is better known as the “iron triangle” or the “golden triangle”.<ref name="ika"/> However, many projects have been delivered within time, cost and quality constraints but are still considered as a failure. At the same time other projects have exceeded the triangle constraints but are still considered as successful projects.<ref name="pinto">Pinto, J. K., Slevin, D. P. Critical success factors across the project life cycle: definitions and measurement techniques. Project Management Journal, 1988; 19(3), 67–75.</ref> Therefore, there is a difference between a successful project and project management success. Most authors agree that a success in a project may be achieved through successful project management.

Jonina Thora: /* Big Idea */

2019-03-02T15:08:01Z

Big Idea

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	{\|class="wikitable" style="margin-left: auto; margin-right: auto; border: none;"		{\|class="wikitable" style="margin-left: auto; margin-right: auto; border: none;"
	\|+ ''Project management success factors<ref name="radsje"/>.''		\|+ ''Project management success factors.<ref name="radsje"/>''
	! scope="col" \| 1. Elements of project management competence		! scope="col" \| 1. Elements of project management competence
	\|-		\|-
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	One must keep in mind that the importance of these success factors varies depending on the project type that the project management team is dealing with at each time. This may concern whether a project is a public or a private project and what the project’s orientation is as well as the number of projects being managed in organization.		One must keep in mind that the importance of these success factors varies depending on the project type that the project management team is dealing with at each time. This may concern whether a project is a public or a private project and what the project’s orientation is as well as the number of projects being managed in organization.

	[[File:SUCCESS FACTOR BREAKDOWN.png\|right\|600px\|thumb\|''Project management success factors breakdown<ref name="radsje"/>.'']]		[[File:SUCCESS FACTOR BREAKDOWN.png\|right\|600px\|thumb\|''Project management success factors breakdown.<ref name="radsje"/>'']]

	==Application==		==Application==

Jonina Thora: /* Methods and techniques for successful project management */

2019-03-01T21:15:08Z

Methods and techniques for successful project management

← Older revision		Revision as of 21:15, 1 March 2019
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	<ref name="sajun">Sanjuan A, Froese T. The Application of Project Management Standards and Success Factors to the Development of a Project Management Assessment Tool. Procedia - Social and Behavioral Sciences. 2013;74:91-100.</ref>		<ref name="sajun">Sanjuan A, Froese T. The Application of Project Management Standards and Success Factors to the Development of a Project Management Assessment Tool. Procedia - Social and Behavioral Sciences. 2013;74:91-100.</ref>

	===~~'''~~Methods and techniques for successful project management ~~'''~~===		===Methods and techniques for successful project management===

	Several methods have been developed through time for managing projects. One of them and probably the most widely used is the '''PRINCE2''' (Projects IN Controlled Environments) method. The method’s emphasis is on the importance of roles and responsibilities within the project as well as management by stages with a clear definition on tolerances on cost, time, quality, scope, risk and benefits.The method is based on experience contained from thousands of different projects all over the world, both good and bad experiences. The method can be applied to any project no matter the type, size, location etc.		Several methods have been developed through time for managing projects. One of them and probably the most widely used is the '''PRINCE2''' (Projects IN Controlled Environments) method. The method’s emphasis is on the importance of roles and responsibilities within the project as well as management by stages with a clear definition on tolerances on cost, time, quality, scope, risk and benefits.The method is based on experience contained from thousands of different projects all over the world, both good and bad experiences. The method can be applied to any project no matter the type, size, location etc.

Jonina Thora: /* The value of project management */

2019-03-01T21:14:50Z

The value of project management

← Older revision		Revision as of 21:14, 1 March 2019
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	<ref name="radsje2">Radujković, M., Sjekavica, M. Development of a project management performance enhancement model by analysing risks, changes, and limitations. Journal of the Croatian Association of Civil Engineers. 2017;69(02):105-120.</ref>		<ref name="radsje2">Radujković, M., Sjekavica, M. Development of a project management performance enhancement model by analysing risks, changes, and limitations. Journal of the Croatian Association of Civil Engineers. 2017;69(02):105-120.</ref>

	===~~'''~~The value of project management~~'''~~===		===The value of project management===

	How to measure the value of project management can be a challenging task and through time three ways have been used to measure the value of PM: a maturity-based Return on Investment (ROI) metric, a Balance Scorecard-ROI, and a resource-based view.		How to measure the value of project management can be a challenging task and through time three ways have been used to measure the value of PM: a maturity-based Return on Investment (ROI) metric, a Balance Scorecard-ROI, and a resource-based view.
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	''Resource-Based View Metric:''		''Resource-Based View Metric:''
	*This takes into account the competencies within the organization and the impact they have on decisions regarding competitive advantages of the company.		*This takes into account the competencies within the organization and the impact they have on decisions regarding competitive advantages of the company.
	<ref name="sajun">Sanjuan A, Froese T. The Application of Project Management Standards and Success Factors to the Development of a Project Management Assessment Tool. Procedia - Social and Behavioral Sciences. 2013;74:91-100.</ref>		<ref name="sajun">Sanjuan A, Froese T. The Application of Project Management Standards and Success Factors to the Development of a Project Management Assessment Tool. Procedia - Social and Behavioral Sciences. 2013;74:91-100.</ref>

	==='''Methods and techniques for successful project management '''===		==='''Methods and techniques for successful project management '''===

Jonina Thora: /* Application */

2019-03-01T21:10:59Z

Application

← Older revision		Revision as of 21:10, 1 March 2019
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	*Constant monitoring of the project as well as good control of risks and any type of changes or constraints.		*Constant monitoring of the project as well as good control of risks and any type of changes or constraints.
	<ref name="radsje2">Radujković, M., Sjekavica, M. Development of a project management performance enhancement model by analysing risks, changes, and limitations. Journal of the Croatian Association of Civil Engineers. 2017;69(02):105-120.</ref>		<ref name="radsje2">Radujković, M., Sjekavica, M. Development of a project management performance enhancement model by analysing risks, changes, and limitations. Journal of the Croatian Association of Civil Engineers. 2017;69(02):105-120.</ref>


	==='''The value of project management'''===		==='''The value of project management'''===

Jonina Thora: /* Application */

2019-03-01T21:09:51Z

Application

← Older revision		Revision as of 21:09, 1 March 2019
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	*Constant monitoring of the project as well as good control of risks and any type of changes or constraints.		*Constant monitoring of the project as well as good control of risks and any type of changes or constraints.
	<ref name="radsje2">Radujković, M., Sjekavica, M. Development of a project management performance enhancement model by analysing risks, changes, and limitations. Journal of the Croatian Association of Civil Engineers. 2017;69(02):105-120.</ref>		<ref name="radsje2">Radujković, M., Sjekavica, M. Development of a project management performance enhancement model by analysing risks, changes, and limitations. Journal of the Croatian Association of Civil Engineers. 2017;69(02):105-120.</ref>


			==='''The value of project management'''===

	How to measure the value of project management can be a challenging task and through time three ways have been used to measure the value of PM: a maturity-based Return on Investment (ROI) metric, a Balance Scorecard-ROI, and a resource-based view.		How to measure the value of project management can be a challenging task and through time three ways have been used to measure the value of PM: a maturity-based Return on Investment (ROI) metric, a Balance Scorecard-ROI, and a resource-based view.
Line 81:		Line 84:
	<ref name="sajun">Sanjuan A, Froese T. The Application of Project Management Standards and Success Factors to the Development of a Project Management Assessment Tool. Procedia - Social and Behavioral Sciences. 2013;74:91-100.</ref>		<ref name="sajun">Sanjuan A, Froese T. The Application of Project Management Standards and Success Factors to the Development of a Project Management Assessment Tool. Procedia - Social and Behavioral Sciences. 2013;74:91-100.</ref>

	Several methods have been developed through time for managing projects. One of them and probably the most widely used is the PRINCE2 (Projects IN Controlled Environments) method. The method’s emphasis is on the importance of roles and responsibilities within the project as well as management by stages with a clear definition on tolerances on cost, time, quality, scope, risk and benefits.The method is based on experience contained from thousands of different projects all over the world, both good and bad experiences. The method can be applied to any project no matter the type, size, location etc.		==='''Methods and techniques for successful project management '''===

			Several methods have been developed through time for managing projects. One of them and probably the most widely used is the '''PRINCE2''' (Projects IN Controlled Environments) method. The method’s emphasis is on the importance of roles and responsibilities within the project as well as management by stages with a clear definition on tolerances on cost, time, quality, scope, risk and benefits.The method is based on experience contained from thousands of different projects all over the world, both good and bad experiences. The method can be applied to any project no matter the type, size, location etc.
	[[File:PRINCE2.png\|right\|400px\|thumb\|''PRINCE2 structure.<ref name="axelos"/>'']]		[[File:PRINCE2.png\|right\|400px\|thumb\|''PRINCE2 structure.<ref name="axelos"/>'']]
	The method’s structure is divided into four integrated elements:		The method’s structure is divided into four integrated elements:
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	<ref name="axelos"/>		<ref name="axelos"/>

	Projects will always be exposed by risks, constraints and changes and if it weren’t for these three factors, project management would overall be so much simpler in many ways. Therefore, an important thing in order to perform successful project management is a continuous management of project-related risks, changes and constraints. Thus, it is recommended for a project manager and his/hers team to have a work plan in which they document all activities that have been done and need to be done. This plan is called “the project management document” or the “project management concept paper”. The document is to be prepared prior to the beginning of each project and is updated throughout the whole project when each individual task has been performed. Radujković and Sjekavica<ref name="radsje2"/> recommend the following structure of this specific document:		Projects will always be exposed by risks, constraints and changes and if it weren’t for these three factors, project management would overall be so much simpler in many ways. Therefore, an important thing in order to perform successful project management is a continuous management of project-related risks, changes and constraints. Thus, it is recommended for a project manager and his/hers team to have a work plan in which they document all activities that have been done and need to be done. This plan is called ''“the project management document”'' or the ''“project management concept paper”''. The document is to be prepared prior to the beginning of each project and is updated throughout the whole project when each individual task has been performed. Radujković and Sjekavica<ref name="radsje2"/> recommend the following structure of this specific document:
	#General information about the project		#General information about the project
	#Business case		#Business case

Jonina Thora: /* Limitations */

2019-03-01T20:40:58Z

Limitations

← Older revision		Revision as of 20:40, 1 March 2019
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	==Limitations==		==Limitations==
	As mentioned earlier, it can be hard to define a firm definition on project success as well as project management success as the success criteria and critical success factors (CSFs) can differ so much from one project to the next one due to a different scope, the uniqueness as well as the overall complexity.<ref name="wateridge">Wateridge J. IT projects: a basis for success. International Journal of Project Management. 1995;13(3):169-172.</ref>		As mentioned earlier, it can be hard to define a firm definition on project success as well as project management success. This is because the success criteria and critical success factors (CSFs) can differ so much from one project to the next one due to a different scope, the uniqueness as well as the overall complexity.<ref name="wateridge">Wateridge J. IT projects: a basis for success. International Journal of Project Management. 1995;13(3):169-172.</ref>

	Even if project management (PM) has been thoroughly developed for the past years, weak PM tasks keep coming up, particularly with the project owner organizations. This may be led to two contributing factors:		Even if project management (PM) has been thoroughly developed for the past years, weak PM tasks keep coming up, particularly with the project owner organizations. This may be led to two contributing factors:

Jonina Thora: /* Application */

2019-03-01T20:38:57Z

Application

← Older revision		Revision as of 20:38, 1 March 2019
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	#Other, as needed in each project as they vary from type to type.		#Other, as needed in each project as they vary from type to type.

	Now, with all of the above in mind, one would most likely achieve project management success and through successful project management, project success is more likely to occur. When a project manager has a clear vision on what kind of a project he is dealing with, he can prepare the project management concept paper with the success factors, listed in the table above, in mind. Regarding the management process, one can implement the PRINCE2 method as certified PRINCE2 projects tend to be successful because of successful project management.		Now, with all of the above in mind, one would most likely achieve project management success and through successful project management, project success is more likely to occur. When a project manager has a clear vision on what kind of a project he is dealing with, he can prepare the project management concept paper with the success factors, listed in the table above, in mind. Regarding the management process, one can implement the PRINCE2 method as certified PRINCE2 projects tend to be successful because of successful project management procedures.

	==Limitations==		==Limitations==