Project Management Success Factors
INTRODUCTION
Project management refers to the complete procedure required in the production of a new product, plant, system, or other quantified outcomes. In addition to that, project management deals with a timely determination to attain an intensive objective. Accomplishing a prescribed mission of a project is to achieve its goals. (Alias e taal, 2014)
A project refers to a series of events and responsibilities that have a precise purpose of being accomplished in particular time specification specifications; have a well-defined start and end date; have funding boundaries; consume cash, people, and apparatus; and are multifunctional (Clarke,2009).
Project management comprises of following occupations: organization, scope, time, quality performance, supply, and cost. Effective project management boosts the success of an intended project. However, it is also possible for the plans to succeed without this factor; the chances of success are minimal (Chan e taal,2004). There is an essential optimistic association between project management practices and project accomplishment. Project management success is among project success elements, and it isn’t straightforward to achieve without it. Don't use plagiarised sources.Get your custom essay just from $11/page
The five occupational factors that determine the success of a management project are discussed in the essay below:
The organization is a sensitive issue to look at before the commencement of project management. Ensure that you meet with the shareholders and organization leaders to aid you in defining the constraints and track of the project and deliver a broader assessment on how it fits into the business’s overarching premeditated plan (Chan e taal,2004). Afterward making it easy to determine before kick-off. When several shareholders have inconsistent or contrary notions about the dream. Talking on this upfront and arriving at an agreement about the project goals will aid in accomplish perspective as the project begins. Disclosing the misunderstanding might decrease any possible undesirable influence, and make for more deliberately organized projects.
One of the critical factors that determine how a project is accomplished in time. Missing a deadline makes a negative impression for your crew. Nevertheless, achieving a project at the expected time does not imply that you negotiate on quality. Both time and quality are essential; hence you need not compromise on either of the two. When the project deadline is narrow and has strict stakeholders, then the project manager should be informed to allow possible deadline adjustment negotiation to be done (Pinto e taal,2007). This will ensure there is timely delivery of high-quality products and services. It is not only the managers’ job, but also the team members should instill the same kind of attitude .it is the role of team members to raise issues, problems and hindrances being faced at the moment for the immediacy of solutions.
Another sensitive factor in determining a project’s success and management is cost. When the estimated budget is high, then the number of periods for project accomplishment is also high, and so is the sum of capital assigned to it. In such a situation, focus rather than rush is ultimately the key to delivering high-quality products and services, with maximum exploitation of funds (Pinto e taal,2009). If the budget is less than what you have then altered with restrictions like unavailability of funds, and lack of time. At times you have to inspire your exasperated overworked crew by cheering them for the excellent performance while identifying their exertions by rewarding.
Pricing is part of an essential part of plan supervision. Pricing is depicted by the availability of managers with high levels of mindset in discussion with patrons of that particular project after studying market trends. A significant element of the auction and yield is the price; hence has to be strongminded cautious sum up. Considerations on the cost are determined by the brand or amenity type. Considered factors are those measure which require to be vented together with value a particular purchaser is ready with (Radujković e taal, 2017).
In the instance of items that are not perishable, their demand is never a limitation. Moreover, since they are not a product that can smoothly go bad, therefore they can be stockpiled to sell all through that specific period. Demand and storage factors tend to weigh out the value. Pricing can vary for unpreserved brands and periodic pieces of stuff. Due to being found in the market place briefly and are demanding for that particular period. Owning a claim when it is high and in partial stock, selling price is typically high. For instance, an association intending to export perishable goods such as farm products will have sufficient capital for the kinds of stuff during winter.
The supply of resources is essential when meeting the demand within a specified period. A project manager must ensure that the amount is satisfactory, hence no compromise on deadline for delivering of properties. For example, an organization has planned a training session with twenty students on a particular date, and the Students have attained the requirements; hence they provided with the date, time, and setting of the course (Clarke,2009). Nevertheless, other students continued to show up and went on to register for the course, and the total number reached fifty. The existing setting has a capacity of twenty individuals; hence the trainers are forced to organize an additional for setting with immediacy for the training session to go on as earlier planned. In case of the cancellation of the course due to lack of another setting that can hold the current capacity, then it will be a significant loss to the organization, both financial and reputation-wise.
Inconclusion, this essay depicts that Project management is a broad concept that has no one instruction of managing projects as they are of a variety of types. Project management is unavoidable in today’s world, a residence of unceasing enhancement through dissimilar types of various projects. (Alias e taal,2014)
Project management is not the only requirement for that enhancement but also one field that seeks to upgrade itself through influence on different project management success factors. Those factors are drawn up in this essay, in the form of project management success (Pinto e taal,2007). funds should be invested in the project organization arena should be made, specifically through consolidating individuals and organization capability. The above-discussed factors in the essay make a success in project management is keenly followed though some projects can succeed without necessarily using this factor.
Reference
Alias, Z., Zawawi, E. M. A., Yusof, K., & Aris, N. M. (2014). Determining critical success factors of project management practice: A conceptual framework. Procedia-Social and Behavioral Sciences, 153, 61-69
Chan, A. P., Scott, D., & Chan, A. P. (2004). Factors affecting the success of a construction project. Journal of construction engineering and management, 130(1), 153-155.
Clarke, A. (2009). Practical use of critical success factors to improve the effectiveness of project management. International journal of project management, 17(3), 139-145
Pinto, J. K., & Slevin, D. P. (2007). Critical factors in successful project implementation. IEEE
Radujković, M., & Sjekavica, M. (2017). Project management success factors. Procedia Engineering, 196, 607-615