Project Management

Factors Impacting Success Rate of Project Implementations

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Word Count

1500 words

Subject

Project management

Deadline

3 Days

Assignment Criteria

Word length: 1500 words +/- 10%
Tables, graphs, references and appendices are NOT included in the word count and should be placed at the end.

What are the major factors that promote or inhibit the successful implementation of contemporary projects?

Examples and/or illustrations, to further highlight key points and strengthen arguments, are expected.

* Successful in the sense that a project is completed within what most key stakeholders would consider acceptable parameters.

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Assignment Solution

INTRODUCTION

Everyday around us we listen about the success or failures of various projects. Defense projects, construction projects, IT projects, environmental projects, etc. are just some of the types of projects that we come across in our daily life. But before talking about projects and project management, we must first understand what a project is. A project is defined as an impermanent endeavor that is carried out to aim one or more unique outputs. The outputs can be of the form of products or service. The process of planning, strategizing, designing, implementing and monitoring a project is defined as Project Management. A project is also defined into four phases, each representing in a chronological order of its life cycle. The four phases a defined in text are shown in the image below .

 DEFINING SUCCESSFUL IMPLEMENTATION OF A PROJECT

There are several factors that have a crucial role in determining the accomplishment or failure of the implementation of a project. But before doing that, we must have a clear understanding about the definition of successful implementation of a project. A successful implementation of project is defined as the quality achievement of optimum balance between some specific attributes. Time, cost and scope of the project are some of these attribute. If the project achieves an optimum balance between these three attributes, then the project is said to be successful and successfully implemented(Larson, Modern Project Management, 2014). However, in reality there is always a trade-off between these three features of a project . It is the quality of project implementation that decides the effectiveness of balance between these three attributes.Achievement of these attributes should be always from the perspective of client or customer. It is the client or the customer who must be satisfied with the output of the project.

FACTORS PROMOTING OR INHIBITING THE SUCCESSFUL IMPLEMENTATION OF CONTEMPORARY PROJECTS

The successful implementation of a project depends on several factors. Inability of the project manager to efficiently execute or follow these factors can cause the failure of a project. However, many of these factors are at times also not in absolute control of the project manager. It is here where the real challenge of successful implementation of a project comes. However, with an effective strategy and time bound implementation a project can be successfully implemented(Jeffrey K. Pinto, 2009). Let us discuss each of these factors one by one.

For successful implementation of a project the Project manager needto have an appropriate idea about the availability of resources available at each phase of the project. It also includes the estimation of manpower or project team members and a realistic approximation about their capacity(Atkinson, 1999). This is usually done at a holistic level in the initial part of the project but as the project proceeds, these data should be more and more accurate.

The project implementation success also depends on the effectiveness of PMP (Project Management Planning). The project must be devised with proper planning taking all the possible scenarios into consideration(Aksorn, 2008). The contract documents must clearly specify the scope of the project to avoid confusion in future. The project must have flexibility for minor changes in requirement during implementation. PMP is usually carried out in the first two phases of project life cycle especially in the defining phase(Belassi, 1996).  The higher the degree of minuteness is being followed during project management planning, the better are the chances of successful implementation of the project.

The support of top managementis one of the very important factors for successful implementation of project is. In many projects, the top management does not have a clear

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