Project Management Triangle

Author's LinkedIn profile: https://www.linkedin.com/profile/view?id=2655202 Abstract: Even meticulously planned projects can fail. Even a seemingly good going project with a realistic baseline and well-maintained schedule, can spring unpleasant surprises on stakeholders. The reason? Unfortunately, often it is not the 'unknown unknown', but inappropriate controls and consecutive failure to make corrective actions in the timely manner. The Success Driven Project Management (SDPM) approach to planning and tracking projects, also called management by success probability trends, challenges the common 'not-so-bullet-proof' practice by integrating risk scenarios, providing simple and trustworthy indicators of project health and pointing out areas where prompt actions need to be taken. Traditional approaches to controlling projects, such as EVM, "% complete" status reporting and other have their clear shortcomings, addressed by SDPM. Many implementations, inclu...

This study evaluates the effects of project management on project success in Blackstone Construction Company. The study adopted a survey research design, using a combination of stratified and judgmental sampling techniques, A structured questionnaire was administered on 40 top and middle levels management staff of the company. The scales in the questionnaire were content validated, and has a reliability correlation coefficient of 0.11.The data collected was analyzed using descriptive statistics and Chi−Square distribution. The research findings reveal that there is a relationship between project quality and business success, Project quality and technical success. The study also reveals that there is a significant relationship between Project cost and acceptability by clients. It was therefore recommended among others that total project cost on the side of clients should be minimized by ensuring that the project manager is innovative enough and creative in the apportion of project co...

Projects do experience cost overruns, delays, or poor quality performance. There are few studies conducted to measure the influence of Project Management Performance (PMP) on Project Success (PS). Therefore, this paper aims to review the previous studies on the moderating impact of Organizational Culture (OC) and the mediating impact of Project Risk Management (PRM) and the correlation between PMP and PS. A rigorous review of the literature will be conducted to establish these relationships. As a result, this paper provides meaningful theoretical framework on PMP and its connection with project success. The findings would establish the nature of the relationship between PMP and PS as well as to determine the direct or indirect effects of OC and PRM on them. Also, further researches would be beneficial to fill the current research gap for future successful projects implementation.

Project cost management is very important for successful completion of the project. Project cost management is the process of minimizing the cost of the project while maintaining both the scope and quality level of the outputs within an acceptable period. Project cost management aims to reduce costs, increase quality, perform effectively within a predetermined time and realize the product within the target budget. Cost estimation, which is an important element of project cost management, is accepted by many project managers as a strategic cost management process and profit planning tool and is becoming more and more important day by day. As a matter of fact, in order for the projects to be finalized within the desired budget and period, project managers should estimate the purpose, scope, quality, period, tools, instrument, equipment and human resources to be used in the project process and update these estimates at every stage of the project process. Today, especially in the fields of construction, infrastructure and information technologies, the interest of all stakeholders from project owners to suppliers and from end users to facility managers is increasing and it is difficult to estimate the cost budgets accordingly. As a matter of fact, previous studies clearly show that there is a difference between the data obtained from current cost estimation practices and the cost budgets realized by the senior management and emphasizes that there is not a single cost estimation method suitable for each project. This study provides a new framework for a more systematic and realistic estimate of the costs of projects with different requirements in terms of scope, budget and period. In addition, it provides important information to the practitioners about the stage and in which situations the methods used to estimate the project costs should be used. Accordingly, it is recommended to estimate the costs of projects with short project duration, low budget and narrow scope by statistical methods, while it is recommended to estimate the costs of projects with longer project duration, higher budget and wider scope by accounting methods.

There have been many studies on the subject of project management and project success. Early studies in the mid 1900s linked project management and project success to the triple objectives of Time, Cost & Quality. As such it was concluded that, project management techniques have a significant impact on project success. Subsequently, by the turn of the century, it was pointed out that project management literature often confusingly equate project management success to project success as studies indicate that there are other dimensions to project success namely policy & strategy, team & leadership, stakeholder management, communication, financial resources, learning from experience, contracting, external environment, performance measurement baseline, innovation and contractor’s competence. Further researchers pointed out that there are two separate components of project success i.e. success criteria and success factors. This study conducted literature reviews in an attempt to list t...

Construction project performance is criticised for high failure rates due to challenges associated with the complexity, nature and dynamism of environment. The research in this area suggest that practicing better project management methods are essential and urgent. Therefore the research focused on better project management concepts that are capable of addressing deficiencies of Traditional Project Management (TPM) and reduce project failures. The research of project management has turned in to a new era where hybrid concepts are evolving. In this research it is expected to derive a hybrid of lean and agile concepts that can be applied in construction project management. This paper use the results of an extensive literature survey on concepts such as lean and agile, hybrid approach of project management and the survey results of the industry regarding expected attributes of a new project management approach. A hybrid conceptual framework is drafted absorbing the strong attributes of Lean and Agile while mitigating the effects of weak attributes of TPM. To build up the relationship between variables "Constructive method or a "problem solving process" which is used in similar research is adopted. The results are used in the main research to propose a new hybrid concept in project management Keywords-construction project management, hybrid concepts, lean, agile I.

For an organization to create optimal value from its investment in projects there must be a clear link between the outputs created by the projects and the requirements of the organization's business strategy. This means that organizations that have a structure in place for aligning the project deliverables with their organizational goals will be better placed to realize their investment in projects, and achieve the value defined by their business strategies. This paper examines existing research, ideas and concepts of project governance and enterprise project management, and offers a framework to build on current theory development and practice. Synthesizing existing literature of project/ programme management, governance and portfolio management, this paper proposes four key elements to improve the performance of projects and hence create value for organizations. These four elements are: 1) Portfolio management: focused on selecting the right projects and programmes to support the organization's strategy, and terminating ones that no longer contribute to the business success of the organization; 2) Project sponsorship: providing the direct link between the executive and the project or programme manager, focused on the whole project lifecycle; 3) Project Management Office (PMO): providing oversight and strategic reporting capabilities; 4) Projects and programme support: the effective support and management of projects and programmes is the measure of an effective governance system. The purpose of the framework described in this paper is to provide guidance to organizations in the development of effective project governance to optimize the management of projects.

Projects do experience cost overruns, delays, or poor quality performance. There are few studies conducted to measure the influence of Project Management Performance (PMP) on Project Success (PS). Therefore, this paper aims to review the previous studies on the moderating impact of Organizational Culture (OC) and the mediating impact of Project Risk Management (PRM) and the correlation between PMP and PS. A rigorous review of the literature will be conducted to establish these relationships. As a result, this paper provides meaningful theoretical framework on PMP and its connection with project success. The findings would establish the nature of the relationship between PMP and PS as well as to determine the direct or indirect effects of OC and PRM on them. Also, further researches would be beneficial to fill the current research gap for future successful projects implementation.

The general objective of this research was to assess the risk management process and project performance. The descriptive research design with a mixed qualitative and quantitative approach was used to a sample of 118 respondents selected from 168 target population using stratified sampling technique and Sloven’s formula. SPSS Statistical software was used in the analysis of the collected data into descriptive statistics by the help of mean and standard deviation. The inferential statistics were also analyzed as regression and correlation analysis. The results of this research have shown that project risk identification and performance of Mpazi channel construction project has a highly positive and significant relationship, with a coefficient of correlation of 0.970 and sig=.000, which is less than 0.05 level significance. The correlation results have also revealed r=0.979 and sig=0.00 which is less than 0.05 level of significance, hence proving a highly positive and significant rela...