Project Management: Success Factors and Challenges

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Introduction

Project management is a growing tendency to regulate processes, methods, intellectual capital, skills, and experience to achieve all supposed goals successfully. Project management is a complicated process that requires proficient knowledge of organization and management strategies that can be applied in particular cases. In order to manage all the multifaceted aspects of a project, the managers should gain a scientific overview of approaches to the efficient and productive directives of the project. Thus, the current paper discusses successful project management and the possible challenges managers should cope with.

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What Role Does a Customer Have During the Project Life Cycle? Why Is It Important to Satisfy the Customer?

Customer satisfaction is an essential criterion for any business because it is the central point for analyzing the success of the business activities and finding improvement. Most of the projects are usually created to increase the customers’ satisfaction. Thus, being client-oriented, the project life cycle includes several phases of direct integration with customers’ experience and satisfaction: initiation, planning, execution, and closure (Andrew & Paton, 2019). The company can slightly modify or revise the project structure according to the customers’ opinions during the initiation and planning stages. The execution stage is directly correlated with delivering the goods or services to the customer. During the last phase, the project managers should analyze the results basing on the customers’ feedback. Thus, the customer has a crucial role in the project life cycle.

What Aspects of a Project Might Involve Some Degree of Uncertainty? Why?

The uncertainty and risk management is a vital skill for the professional project managers. Even on the stage of initiating or planning the projects, there can be various uncertainties in resources, communication, and costs. Thus, the managers must prepare all the human and material resources distribution before the project execution to avoid risks. However, it is practically impossible to estimate all the needs accurately. Thereby the project planning always requires holding the risk factors assessment. The problems with communication always involve a particular level of uncertainty because different people may have various life consequences, complicating the establishment of the contact. For example, cultural or language differences may affect communication, hindering project development. Any project requires investments, and during its execution, the costs may rise, which also implies the uncertainty degree. Thus, to minimize the uncertainty level, managers should estimate the possible risks at the planning stage.

Describe how a Global Project Can Be More Complex Than a Project Performed Within Just One Country. How Might These Elements Affect the Successful Outcome of The Global Project?

The global project may be more complex than the traditional one in two main aspects: legal and cultural. Considering the legal aspect, the problem of the commercial contracts’ legal regulations in different countries may occur. For example, some of the details required for the project execution may be inconsistent with the other country’s legislation. As a result, the project will be modified and may be less successful than expected. The cultural perspective is also a fundamental problem in global projects. It is essential to consider the cross-cultural needs of the customers and manage the team relationships and culturally neutral project execution. The international project may not be successful if the cultural factor and possible risks are not addressed at the planning stage.

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What Do You Consider Will Be the Biggest Challenges in Organizing and Managing a PMO?

Inefficient communication and productive resource management are the two biggest challenges in organizing and managing PMO. Any project requires managers to achieve minimal expenses and maximum profits. Thereby, cost-effective resource management, which is hard to perform and analyze, should be applied. In order to deal with this challenge, the managers should estimate risks and unforeseen costs. The projects always involve many people and require leaders to establish efficient communication within the team, motivating people to increase their performance. However, poor communication can negatively influence the whole business activity and lead to conflicts and time-costs over expenditures.

Explain with Examples How the Project Manager Leadership Style Can Influence Project Success?

Project management depends on the leader’s abilities to direct the activities in the right way. Leadership style determines the way people and resources interact during the project. Therefore, there is a direct correlation between the leadership style and the project’s success. Transformational leadership is one of the styles which can contribute to project success. Transformational leaders strive to motivate their subordinates to be engaged in the project activity and help them develop personal characteristics, thereby enhancing total performance (Haley et al., 2017). For example, empowering the workers to improve their skills transformational leader also aims to improve the quality of the project through wise human resource management. A supportive leadership style can also be beneficial for the project results (Haley et al., 2017). For example, following this strategy, leaders provide continuous mentorship to their subordinates during the entire project. As a result, they may adjust the project flow for the customer needs and direct the progress supporting workers through building trustful communication.

Why Audit an Organization, From A Project Management Perspective, Is Important, and How May We Measure the Project Management Maturity Level for an Organization?

From a project management perspective, auditing the organization is essential for its stable development. First of all, the critical analysis of the project activities can enhance the quality and ensure legal compliance. Such an assessment can contribute to estimating the costs and predict possible overruns. Organizational maturity includes people directing, process, data, and technology and is characterized as a total level of corporate development according to particular goals (Anantatmula, & Rad, 2018). From the scientific perspective, a project maturity level contributing to the company’s growth has specific parameters’ distribution which is depicted in Figure 1 (Anantatmula, & Rad, 2018). In order to measure the project management maturity level, each parameter should be evaluated appropriately.

Conclusion

The success of the project entirely depends on its efficient management. As far as each project has particular risks and involves the degree of uncertainty, the managers are responsible for minimizing the costs and losses. It can be done thanks to the in-time auditing and project maturity assessment. The projects on the traditional and international levels require different management approaches. The critical factor of successful project execution is the customer’s satisfaction.

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References

Anantatmula, V. S., & Rad, P. F. (2018). Role of organizational project management maturity factors on project success. Engineering Management Journal, 20, 1–14.

Andrew, B., & Paton, S. (2019). The role of the project management office (PMO) in product lifecycle management. International Journal of Production Economics, 208, 43–52.

Haley, M., Landis, E., & Novo, B. (2017). Leadership and its role in the success of project management. Journal of Leadership, Accountability and Ethics, 14(1), 73–78.

Appendix

The importance of the maturity factors for the project success
Figure 1. The importance of the maturity factors for the project success

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BusinessEssay. 2022. "Project Management: Success Factors and Challenges." September 7, 2022. https://business-essay.com/project-management-success-factors-and-challenges/.

1. BusinessEssay. "Project Management: Success Factors and Challenges." September 7, 2022. https://business-essay.com/project-management-success-factors-and-challenges/.


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BusinessEssay. "Project Management: Success Factors and Challenges." September 7, 2022. https://business-essay.com/project-management-success-factors-and-challenges/.