1.0 Introduction
The success of the project is based on poor project management factors in relevance to the goals they reach like long-term goals. Project managers hold the responsibility of integrating as well as resourcing along with communication as well as managing risk to enhance performance in the successful management of projects. The present-day world has both large-scale and small-scale projects going on in the business arena. Thus, projects play a vital part in relevance to the current corporate landscape in the case of both public as well as private companies (Cao et al., 2010). The number of projects is largely increasing but still, a lot of projects fail due to poor project management framework. As per the annual CHAOS Summary Report for the Standish Group, it was analyzed that in 2009, merely a 32percent of total IT projects which were examined were completed successfully. But approximately 44 percent of the business projects missed the targets of the project. The major delay, as well as cost issues, was because the majority of the agreed project management functions were not fulfilled (Radujković et al., 2017).
The rest of the 24 percent of the company’s projects were recognized as failures in terms of being incomplete as well as poor delivery to the consumers (Deiring, 2010). Projects failed not only in the case of the IT industry but also in the case of other industries as the projects were reported to have significantly, poor outcomes (Venczel et al., 2021). Some examples involve public construction projects in the case of Bremerhafen i.e. Klimahaus along with Munich which involved the construction of the Olympic Hall. The present project aims to analyses the factors responsible for the success and failure of project management.
2.0 Literature Review
2.1 Success Factors in a Project
There were various success factors relevant to the project completion phase. As per Raharjo et al. (2018), organizational factors are known to have comparatively less impact such as organizational support on project management success. The evidence from the literature shows that the organizational support factor has a low level of impact on project performance. The study by Herath et al. (2021) focuses on organizational factors like organization support majorly affecting project performance, which in turn is dependent on the stage of the project as well as project scale. However, the organizational support is comparatively less useful than various other factors in the case of the implementation phase. This is true in the case of medium as well as small-scale projects. Furthermore, during the initiation phase involving project conception along with planning and the completion of large-scale projects, there is a direct impact of organizational support on the project management’s success.
Other success factors involve the previous experience of a manager, which has a minimally direct impact on performance, as well as the success of project management. Thus, the size of the previously managed projects did not have a major effect on managerial performance as well as project management. In addition, the replication of various critical success factors in the case of newly implemented projects is an increasingly efficient approach for enhancing project performance.
2.2 Improvement Measures in Project Management
Herath (2021) suggested the various factors of project management success couldn’t be applicable universally across all project environments. Various projects are impacted by distinct sets of success factors. Therefore, there is a need for a project-specific approach which is effective for efficient project management. The project manager can adopt various methods in order to improve the efficiency of the project including proper documentation of the goals and the management tools that will be required for the success of the project. The management of the project can further be made efficient by maintaining proper records of the various stages of the project (Sensini et al., 2021). Efficient management is also done with the proper flow of knowledge among the members of the project in regard to the various stages that will be involved in the project.
2.3 Project Management Tools and Techniques
Project management tools and techniques refer to the methods that can be used in order to successfully complete a project with a proper workflow. It can be said that these tools and techniques can be used to solve various critical situations that may arise in the completion of a certain project. Further, it has been identified that there are various advantages of using these tools and techniques in the management of the project. It has been identified that the use of project management tools can help in producing improved planning and scheduling for the better execution of the project (Rew et al., 2020). On the other hand, it helps in lowering the cost and time for the completion of the project.
2.3.1 Prince2
There are various methods or tools that can be used for the management of a project for example Agile, Prince 2, classical and so on. Prince2 method of project management can be defined as a process-based approach, which is used for management as it focuses on the organization as a whole. It has been identified that this technique of project management mainly focuses on the organization of the project and takes complete control over the entire project from the beginning to the end. In this approach, the project from the initial stage is structured and the various stages that are to be undertaken are clearly structured with all the loose ends managed in a scheduled manner. This approach is based on seven principles, which help in structuring the project and defining the stages in a proper manner (Islam & Evans, 2020). The seven principles of the approach include having a proper justification of the business and the requirements of the project. Along with that in this approach, it is important for the members of the team to have proper knowledge in regards to every stage that will be involved in the project. The roles and the responsibilities of the members of the team in various stages of the project are clearly defined to avoid complex situations in the execution of the project.
The process further allows planning the development of the project in various stages so that the records can be maintained of the approach of the project and the time and the cost consumed in various stages in the project. The other factors that are observed in the project include that the customers are the prime targets and they are the ones that are paying (Mousaei & Gandomani, 2018). The advantage of using this process is that it helps the project to be in a structured manner with a better focus on the quality and the best practice for the completion of the project. It also helps in reducing miscommunication among the members of the group so that complicated issues can be resolved in an easier manner. The technique is considered reliable as this reduces the time and cost that is involved in the development of the project and holds an immense value which is highly relevant for the proper development of the project. Apart from that, there are certain disadvantages of using this technique, which include its failure without proper training of the members and in certain cases, it is considered rigid.
2.3.2 Project Management Body of Knowledge (PMBOK)
Project Management Body of Knowledge (PMBOK) can be described as a collection of best practices, processes, guidelines and terminologies, which are widely accepted by the project managers as a standard within the project management industry. PMBOK defines the discipline along with the execution and the planning methods that can be used by the project managers or the members of the team in order to have a successful project. Along with that, it has been considered that PMBOK is the application of the skills and techniques along with the knowledge to meet the requirements of the project. The various tools that can be used under the technique of PMBOK include brainstorming, market research, questions and surveys and so on (Zubon & Taher, 2022). The purpose of PMBOK serves the organisation to standardise the practices across various departments along the project. The advantage of this technique is that it helps in standardising the project along with the reduction of the overhead cost that is involved with the management team in a project. The other advantage of this technique includes efficient settings of the goals, greater satisfaction for the customers, risk assessment in an accurate manner and so on.
It has been further identified that it also helps in the proper identification of the pros and cons of the project that is being managed. However, there are various disadvantages of this management process, which include high costing. It is often identified that the use of this technology adds to the cost of the development of the project. It has also been identified that the use of this method in the management of eh project increases the complexities that are involved in the development of the project (Alwaly & Alawi, 2020). It has also been found that the use of this method increases the complexity in terms of the communication among the members of the team and at the same time, there is a lack of creativity among the members who are using this technique.
2.3.3 APMBoK
APMBoK can be described as a process that is used by the project managers in order to plan and monitor as well as control the various stages that are involved in the project. It has been considered that APMBoK is an upgraded version of PMBoK and thus it helps in the efficient management of the project. The various advantages that have been identified of APMBoK are that it implies a strong focus on the benefits of the project along with the governance of the project. It also focuses on maintaining the quality of the outcome of the project. However, there is a certain disadvantage of this technique, which includes the increment of complications in relation to the completion of the project (Couto et al., 2021).
2.4 Ethical and Legal Issues
The ethical issues that are to be considered in project management include the PMP certification and the following ethics that are mentioned in the PMI Code of Ethics. Apart from that, the various ethical dilemmas that are faced at the time of the project management are accountability along with conflict about the interest and the culture of the workplace. Accountability refers to the responsibility of the project manager to maintain the running of the project so that no issues are raised in the successful completion of the project (Ibrahim et al., 2021). At the same time, it refers to the recognition of the shortcomings while leading a project so that the complexities can be reduced. Conflict of interest is another dilemma that can be faced while managing a project and in that case, the authority must deal with that in a fair manner so that all the parties that are involved in the project are satisfied.
Along with that, it has been considered that maintaining a good workplace environment is important so that the members of the team involved in the project can work in a free manner. The project manager is also responsible to maintain all the health and safety measures in the sites so that the members are safe from all kinds of issues (Denney & Merritt, 2020). On the other hand, the legal aspect of the management of the project involves monitoring, initiating, controlling and executing the project in a successful manner so that the goals are reached and all the issues are addressed that could hinder the successful fulfilment of the project.
3.0 Conclusion
Thus, it can be concluded that project management is required for the successful completion of the project with fewer complexities. It has been analysed that the need for project management lays in the fact that all the pros and cons of the project will be previously identified; thus, the methods to mitigate will be identified. As analysed, there are various methods that can be adopted in the management of the project like Agile, Prince2, PMBoK, APMBoK and so on. Further, it has been discussed that the Prince2 method is utilised for the management of the project, which is based on various principles and divides the work into various stages. It has been observed that these stages make the development of the project easier and thus leading to the successful management of the project. Along with this method two other methods are discussed which include PMBoK and APMBoK along with the advantages and disadvantages of these methods.
References
Alwaly, K. A., & Alawi, N. A. (2020). Factors affecting the application of project management knowledge guide (PMBOK® GUIDE) in construction projects in Yemen. International Journal of Construction Engineering and Management, 9(3), 81-91.
Cao, Thi & Swierczek, Fredric. (2010). Critical success factors in project management: Implication from Vietnam. Asia Pacific Business Review. 16. 567-589. 10.1080/13602380903322957.
Couto, J. M. C., Kroll, J., Ruiz, D. D., & Prikladnicki, R. (2021). A PMBoK Extension Proposal for Data Visualization in Software Project Management. In ICEIS (2) (pp. 54-65).
Deiring A. (2010), Success Factors in Project Management and Their Relevance for Corporate Development, Munich, GRIN Verlag, https://www.grin.com/document/1150911
Denney, V. P., & Merritt, D. M. (2020). Improving Ethical Decision Making through the Lens of Graduate Project Management Students. The Journal of Modern Project Management, 8(2).
Herath, S., & Chong, S. (2021). Key Components and Critical Success Factors for Project Management Success: A Literature Review. Operations and Supply Chain Management: An International Journal, 14(4), 431-443.
Ibrahim, Z., Hamzah, N., & Khoiry, M. A. (2021). Ethical Issues among Professionals in the Private Construction Sector: A Contractor’s Perspective.
Islam, S., & Evans, N. (2020). Key success factors of PRINCE2 project management method in software development project: KSF of PRINCE2 in SDLC. International Journal of Engineering Materials and Manufacture, 5(3), 76-84.
Mousaei, M., & Gandomani, T. J. (2018). A new project risk management model based on Scrum framework and Prince2 methodology. International Journal of Advanced Computer Science and Applications, 9(4).
Pham, V. Q., Nguyen, B. K. Q., TU, B. V., Pham, H. T. T., & Le, T. Q. (2019). Critical success factors of project management: The case of construction related projects in vietnam. The Journal of Asian Finance, Economics and Business, 6(2), 223-230.
Radujković, M., & Sjekavica, M. (2017). Project management success factors. Procedia engineering, 196, 607-615.
Raharjo, T., Purwandari, B., Satria, R., & Solichah, I. (2018, October). Critical success factors for project management office: An insight from Indonesia. In 2018 Third International Conference on Informatics and Computing (ICIC) (pp. 1-6). IEEE.
Rew, L., Cauvin, S., Cengiz, A., Pretorius, K., & Johnson, K. (2020). Application of project management tools and techniques to support nursing intervention research. Nursing Outlook, 68(4), 396-405.
Sensini, L., Shan, A., & Vazquez, M. (2021). Project Management Tools and Techniques and SME Performance: Empirical Evidence in the Context of Developing Countries. International Journal of Economics and Financial Issues, 11(5), 45.
Venczel, Bence & Berényi, László & Hriczó, Krisztián. (2021). Project Management Success Factors. Journal of Physics: Conference Series. 1935. 012005. 10.1088/1742-6596/1935/1/012005. Zubon, S. H., & Taher, M. K. (2022). A Comparison Between the International Standards PRINCE2 and PMBOK in Project Management.
