Research Methods and Practice

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 Abstract
The effect of Agile Project Management (APM) on the competitiveness of UK finance
companies is studied in this research. In a sector characterised by technology, regulation, and
customer expectations in constant flux, APM is becoming a popular approach of moving fast
in a fast changing world of technology, regulation and customer expectations. Despite this
widespread use, there is little empirical evidence that it impacts important drivers of
competitiveness like project delivery efficiency, innovation, risk management and employee
performance. The study aims to evaluate the contribution of APM to project delivery,
innovation and organisational flexibility and responsiveness, respectively. To explain how
APM accomplishes its processes and stakeholder collaboration in order to navigate through
regulatory complexities and market volatility, the research draws from dynamic capabilities
theory and structural contingency theory. This study utilises archival research and thematic
analysis as a mono method qualitative approach to provide insights into APM’s use across the
sector. It is expected that results of such studies will close existing knowledge gaps and
propose hybrid approaches that would combine APM with more conventional ways of doing
things such as PRINCE2 and adapt a solution that would balance flexibility and governance.

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 Table of Contents
1. Introduction.........................................................................................................................4

2. Statement of the Problem and Rationale.............................................................................4

2.1 Aim...................................................................................................................................4

2.2 Research objectives..........................................................................................................4

2.3 Research Questions..........................................................................................................5

3. Literature Review...................................................................................................................5

3.1 The impact of Agile Project Management (APM) on the project delivery efficiency in
UK finance companies...........................................................................................................5

3.2 How APM fosters innovation, adaptability, and responsiveness to market changes in
the UK finance sector.............................................................................................................5

3.3 The influence of APM on employee performance, organizational flexibility, and overall
competitiveness within UK finance companies.....................................................................6

4. Theoretical Framework.......................................................................................................6

5. Methodology.......................................................................................................................7

6. Implications and Contribution to Knowledge.....................................................................9

7. Potential Limitations.........................................................................................................10

8. Ethical Considerations......................................................................................................11

7. Proposed timeline.................................................................................................................11

Reference..................................................................................................................................13

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1. Introduction
Applying Agile Project Management (APM) to the UK financial sector is one of the most
ideal environments to do so. APM is all about flexibility, iterative processes and teamwork to
strategically achieve operational efficiency and responsiveness to customer requirements. The
finance industry in the UK faces challenges ranging from strict compliance with regulatory
requirements, fast technological change and constantly changing customer needs, which
require agile and innovative solutions. The purpose of this study is to determine the extent to
which Agile Project Management can improve competitiveness by improving project
delivery, stimulating innovation, and reinforcing risk management practises (Suhartini et al.
2024).
2. Statement of the Problem and Rationale
The UK financial sector is operating in a fast changing rapide environment.
change consumer needs and the complex regulatory regime, as well as technological
advancements. It to gain a competitive advantage, the best project management practises are
required (Cobb, 2023). In fact, traditional project management is not responsive or agile
enough to meet these needs. This leads to inefficiency, delayed project delivery and lost
market windows. Despite the huge adoption of APM, very few academics studies have been
carried out. It will help to understand its impact on the competitive landscape of finance firms
in the UK.
Despite the widespread adoption of Agile Project Management (APM) in the UK financial
sector to deal with fast-changing market conditions, no comprehensive academic study exists
that analyses its role in generating competitive advantage. However, the literature on APM is
not sufficiently exploring key dimensions, such as compatibility of APM with organisational
culture, resource utilisation, and APM integration with existing systems (Chowdhury et al.,
2023). In this implementation, compatibility with organisational culture and resource It
utilises, and is consistent with current systems (Chowdhury et al., 2023). The risk
management, customer satisfaction and employee productivity—are especially scarce (Cobb,
2023).
2.1 Aim
This research is to evaluate the impact of APM on the competitiveness of UK finance
companies.

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 2.2 Research objectives
 To evaluate the impact of Agile Project Management (APM) on the project delivery
efficiency in UK finance companies.
 To explore how APM fosters innovation, adaptability, and responsiveness to market changes
in the UK finance sector.
 To assess the influence of APM on employee performance, organizational flexibility, and
overall competitiveness within UK finance companies.
2.3 Research Questions
1. How does Application Performance Management affect project delivery efficiency in UK
finance companies?
2. What role does Application Performance Management play in fostering innovation and
adaptability in the sector?
3. How does Application Performance Management impact employee performance and
organizational flexibility?
3. Literature Review
3.1 Impact of Agile Project Management (APM) on the project delivery efficiency in UK
finance companies
Agile practices foster adaptability, teamwork, and reactivity, demonstrating their
effectiveness in addressing the distinct challenges encountered in finance-related projects.
Originally derived from software development, Agile has proven instrumental in navigating
uncertainties and is thus congruent with organizational objectives through its iterative
framework. It also decreases the lead times in the financial sector and brings a customer
need-oriented culture (Leyba et al., 2024). The outcome of Agile methodology and PRINCE2
is that it establishes a hybrid model that provides both flexibility and a structured governance
framework for optimizing outcomes with minimum risk.
Argue that Agile Project Management (APM) significantly improves the effectiveness of
project delivery in dynamic and more complex environments of companies dealing with
selling financial products in the UK. APM by nature is marked by iterative cycles; hence very
responsive to changes, making it possible for organizations to respond to an ever-changing
list of requirements, thereby supporting communication, flexibility, and the need for
responsiveness required for adequate adaptation of financial projects by responding to
changes in market and regulatory conditions (Žužek et al., 2020). A third area of emphasis in
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 literature is hybrid models. The hybrid models combine Agile with any of the traditional
models, namely PRINCE2.
3.2 APM fosters innovation, adaptability, and responsiveness to market changes
Identifies effective governance to greatly help improve the effectiveness of project deliveries,
particularly on infrastructures, as in the case of the UK, while providing significant
information that will be useful to apply to the banking institutions. This means that good
governance actually refers to aligning the business goals with the project deliveries; hence
teams are able to choose wisely because they are in control of an organization. This
equilibrium holds much importance in the financial sector where compliance and adaptability
are of prime concern. The study reveals that flexibility should be introduced to governance
structures to encourage innovation as well as manage complexity better (Sergeeva, 2020).
Agile methodologies are the perfect fit for this requirement since they are iterative and
responsive to the needs of financial markets.
3.3 The influence of APM on employee performance, organizational flexibility, and
overall competitiveness within UK finance companies
According to Onesi-Ozigagun et al., (2024), Agile Project Management has significantly
influenced innovation, responsiveness, and adaptability in the financial sector of the United
Kingdom. APM is an innovator because it adopts cross-functional teams that promote
creativity and experimentation, hence becoming a vital tool in the quest to change the market.
This, therefore, leads to ongoing improvement, hence necessitating financial institutions to be
responsive to the regulatory requirements and new technologies. Customer co-opportunities
in APM increase market responsiveness since customer responses help focus attention on
concentrated market needs.
4. Theoretical Framework
According to the dynamic capabilities theory, firms should continuously change and be
creative within their environments while looking for ways to maintain their positions in the
competitive fields (Ferreira et al., 2021).
Dynamic Capabilities Theory
Dynamic capabilities of the firm relate to its ability to integrate, build, and reconfigure its
internal and external competencies to respond to newness in its environment. The finance
sector of UK is a complex one with very rigorous regulatory requirements, change of
technology and fluidity in customers' needs, and therefore, requires agile methodologies like
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 APM (Mun Yee, 2024). These capabilities are enabled through the iterative cycles and the
responsiveness of the feedback within APM thus allowing the firms to respond to the changes
in the market efficiently.
Structural Contingency Theory
The core principles of Agile Project Management (APM) are based on iterative development
and adaptive planning, which can greatly enhance delivery efficiency in complex and highly
regulated industries. Hybrid models combining Agile approaches with traditional frameworks
like PRINCE2 are the best examples of structural contingency theory, striking a balance
between flexibility and governance (Diem, 2021). This would ensure good decision-making
and resource allocation, which are crucial for the financial sector in the UK because timely
delivery determines competitive advantage.
Organizational Learning Theory
Cross-functional collaboration under APM epitomizes the organizational learning theory,
which bases itself on shared knowledge and iterative feedback loops as leading sources of
innovation. The culture of experimentation and creativity brings to teams an ability to mould
innovative financial products that reflect the shifting needs of their clients (Madupe, 2022).
This thereby ensures engagement with stakeholders at large while guaranteeing that those
products will remain relevant-illustrating how APM applies customer-centric innovation
frameworks at operational levels.
Risk Management Theory
The theory of risk management postulates that APM reduces uncertainties by breaking
projects into smaller, manageable increments. Incremental delivery would allow financial
organizations to find and mitigate potential risks early, which is really important for
compliance and regulatory complexity.
Hence, the theoretical framework encompasses dynamic capabilities, structural contingency,
organizational learning, and adaptive governance theories. The insights are that APM reduces
project delivery inefficiency, is inspiring for innovation, and also enhances risk management.
Consequently, APM is a transformational methodology hence maintaining its competitive
position in the highly dynamic UK finance industry (Sibiya et al., 2023).
5. Methodology
This research explores how Agile Project Management affects the competitiveness of UK
financial institutions. Because of this, the method has to be structured in a way that is layered
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within the framework of Research Onion as outlined by Saunders; hence every stage aligns
with the research objectives and focus area.
Philosophy
The research is based on an interpretivist philosophy, emphasizing the understanding of
subjective experiences together with the contextual factors that inform the impact of APM on
competitiveness (Madupe, 2022). Such an interpretivist approach is very suitable for
examining the complex dynamics in the UK finance sector, especially with regards to how
APM inspires innovation, adaptability, and risk management and how these improve
competitiveness.
Approach to Theory Development
A deductive approach has been used whereby the hypothesis advanced about the positive
influence of APM on the competitiveness of the UK finance sector is analyzed. This therefore
allows for the systematic testing of theoretical statements against empirical evidence obtained
from the sector such that the assertions are confirmed or denied.
Methodological Choice
A mono-method qualitative research design has been used. This goes in line with the need to
allow qualitative dimensions of APM implementation: governance adaptability, workforce
performance, and innovation practises. Using qualitative methodology gives us holistic
understanding of contextual, organizational, and other dominant factors impacting the
adoption and effectiveness of APM (Karimi, 2021).
Strategy
The main methodology of this study is archival research. This is done by analysing extant
data sources, such as case studies, corporate reports, industry reviews and peer reviewed
scholarly literature.
It is particularly suited to archival research, since it is based on data that already exists, such
as corporate reports and scholarly literature, and so makes it possible to study Agile Project
Management (APM) in the UK financial sector. This technique presents the real world
experience of the effect of APM on organisational culture, regulatory compliance and
competitiveness.
Time Horizon
A cross sectional time horizon is taken. This permits the study to study a specific period of
time, which covers APM adoption state and its fast impact on competitiveness. The chosen
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 time horizon ensures that the study remains relevant to current industrial practice and issues
(Karunarathna et al., 2024).
Data Collection
Data is derived from secondary sources, which may include organizational reports, regulatory
filings, academic research, and industry white papers. These sources provide detailed
information on APM practices and subsequent effects within the finance sector of the United
Kingdom.
Sampling Strategy
The sampling strategy is based on purposive sampling of those documents and data sets
relevant to the UK finance sector and APM. This way, the analysis of the cases and contexts
in which APM has been implemented is highly targeted in its insight about impact.
Data Analysis Techniques
The thematic analysis of the data will be employed in interpreting the main themes with
regard to the impact APM has on competitiveness. Hence, the three themes identified will
relate to the aims stated above: innovation, risk management, and adaptability. The present
study is based on an interpretivist philosophical approach, uses a deductive methodological
approach, and also follows a mono-method approach to qualitative research with involvement
of archival analysis (Saunders and Darabi, 2024). This cross-section temporal design,
combined with purposive sampling, facilitates the provision of targeted insights relating to
the impact of APM on the competitive dynamics pertaining to financial institutions in the
United Kingdom.
6. Implications and Contribution to Knowledge
This would fill very critical gaps in knowledge about the impact of Agile Project
Management (APM) on the competitiveness of UK finance companies. The contribution will
be both theoretical and practical.
This study would first look to fill the gaps in the existing empirical literature concerning the
role of APM in the finance sector competitiveness. The effects of APM during project
execution on efficiency, innovation, and risk management are the bases for constructing an
all- inclusive framework that reveals how iterative methodologies and collaboration among
stakeholders can facilitate the success of operations. This aspect holds significant importance,
given that existing literature predominantly focuses on Agile methodologies within software

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 development environments, whereas their application in financial contexts has been relatively
under-researched (Edison et al., 2021).
This study contributes to the dynamic capabilities theory inasmuch as it will show how APM
facilitates adaptability and responsiveness in the case of a highly regulated environment.
The research outlines pragmatic approaches to the efficient implementation of APM in
financial institutions. Some findings have indicated that hybrid models that combine Agile
practices with conventional frameworks, such as PRINCE2, have provided financial
executives with tailored strategies that align governance with flexibility. This is pertinent in a
sector that is quite complex with respect to compliance obligations and operational efficiency
(Patil et al., 2024). Further promoting the theoretical framework of risk management, this
shows that how the incremental approach used in APM reduces the uncertainty of financial
projects.
7. Potential Limitations
The research identifies some potential limitations regarding the scope and effects that might
impact this study especially with regard to the presence of APM. Its effectiveness in changing
the competitive standing of financial institutions in the United Kingdom. Such
acknowledgment helps in devising plans for mitigation of such influence.
Access to Data
The study will solely depend on secondary data acquired from source archives, though the
accessibility of current and complete data remains limited (Walters, 2020). The availability of
detailed information by commercial banks may be limited through the veil of confidentiality.
As such, the range of the study might be constrained.
Quality of Secondary Data
Archival research requires that information acquired from various sources be analysed
critically for its validity, relevance, and coherence. Some documents are shallow or irrelevant
to certain research objectives. Careful selection needs to ensure sources are reliable and well
documented. Any data triangulation will further cross-validate the results and therefore
increase the reliability (AlSaied et al., 2024).
Generalisability
The results may be very specific to the financial sector in the United Kingdom and may not
be transferable to other industries or geographies. The regulatory frameworks and market
conditions may be unique within this sector; hence, this conclusion cannot be generalized
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 across other contexts. These are recognized limitations, and this will be stated explicitly; the
conclusions drawn and the proposed recommendations are specifically tailored for the UK
context.
Time Constraints
This kind of cross-sectional time perspective gives an immediate view regarding the impact
of APM, but it may lose its perspective on long-term consequences; thus, results that may
require further long follow-up study. Longitudinal studies from the literature are included to
frame possible long-term trends (Hopwood et al., 2022). Further avenues for further research
will also be pointed out to study these effects in future studies.
8. Ethical Considerations
This research shall uphold all the ethical consideration to secondary data research work
(Stommel and Rijk, 2021). Source data shall be derived exclusively from freely accessible
sources but known sources. Sources must ensure transparency; copyrights and intellectual
property rights shall not be violated using the corporate reports, regulatory statements or
academic studies. Plagiarism shall not happen that way because proper citations and
acknowledging shall be used. Personal as well as confidential information would be avoided
to ensure that organizational privacy and personal privacy are safeguarded.
7. Proposed timeline
Activity Start Date End Date Duration
Topic Selection and Proposal Writing 01/12/2024 15/12/2024 2 weeks
Literature Review 16/12/2024 15/01/2025 1 month
Theoretical Framework Development 16/01/2025 31/01/2025 2 weeks
Methodology Design 01/02/2025 15/02/2025 2 weeks
Data Collection (Archival Research) 16/02/2025 15/03/2025 1 month
Data Analysis 16/03/2025 31/03/2025 2 weeks
Writing the Draft Report 01/04/2025 30/04/2025 1 month
Review and Feedback Incorporation 01/05/2025 15/05/2025 2 weeks
Final Report Submission 16/05/2025 31/05/2025 2 weeks

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 Gantt Chart

Months
De
Activity Start Date End Date Duration
c Jan Feb March Apr Jun
Topic Selection and Proposal
1/12/2024 15/12/2024 2 weeks
Writing
Literature Review 16/12/2024 15/01/2025 1 month

Theoretical Framework
16/01/2025 31/01/2025 2 weeks
Development

Methodology Design 1/2/2025 15/02/2025 2 weeks

Data Collection (Archival
16/02/2025 15/03/2025 1 month
Research)
Data Analysis 16/03/2025 31/03/2025 2 weeks

Writing the Draft Report 1/4/2025 30/04/2025 1 month

Review and Feedback

01/05/2025 15/05/2025 2 weeks
Incorporation

Final Report Submission 16/05/2025 31/05/2025 2 weeks

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