Critically Assessing Project Success and Failure

My perspective:

Large complicated projects usually are unable to fulfil or perfectly finish all the objectives and aims, through the time elapsed the project could be considered successful if it have a good revenue to the stakeholders.

Key concept

In modern ages the variances among projects and the different managerial practices essential for managing them have increased rising consideration. Generally, project management is the discipline of planning, shaping, securing and managing assets to achieve exact goals. Commercial subtleties are fast altering in the face of globalization, offering a excess of opportunities. The unique nature of engineering projects with their fixed budgets, time frames together with other constraints postures simple challenges in view of the difficulties involved.

Project stakeholders have varied interests within the booming implementation of engineering projects. Frequently, the project manager isn't equipped adequately to satisfy the environmental challenges and therefore the expectations of the project stakeholders. The project manager doesn't have the posh to pick out the team of his alternative. With team members unaccustomed the project atmosphere, the project manager faces further challenges that don't seem to be strictly transaction-oriented to deal with the problems of meeting project milestones.

When projects face challenges like value overruns, undue delays, scope changes or quality problems, organizations and project stakeholders would suffer losses .Apart from the high prices concerned as a result of challenged or unsuccessful projects, the organization’s image conjointly may get blemished.

Industrial organizations use project management techniques to realize organization’s goals and growth objectives. Projects and project management became integral business processes that support structure performance and ultimately contribute to the society.

The function of project management involves application of domain-specific knowledge, managerial skills and project scheduling tools to meet project requirements.

Recognition that people and teams might informally valuate a project at numerous points across and on the far side the life cycle of a project, utilizing a variety of doable analysis criteria, suggests that project managers ought to ask for feedback from stakeholders frequently throughout a project. This might assist managers to anticipate or address aborning issues or avoid escalating commitment to problematic project trajectories.

 Additionally, associate degree awareness of the analysis of a project’s structure success by high-level stakeholders helps project managers focus not solely on the project management method, however conjointly on the broader structure objectives for the project. Acknowledgment of the discourse components of a project, like the structure history of project experiences and merchandise use, would facilitate the structure learning from past comes that's a vital a part of future project endeavours.