1. ABSTRACT The success of any project is accomplished when the success criteria of that project are met. Progress measurement is a technique used to measure the success of projects by comparing the actual status of the project against certain planned parameters, which are the cost, schedule, and scope or quality. It has been noticed that several projects fail because the absence of good practices in managing small projects in part of the petrochemical industry. This study analyzes and assesses the current practice and recommends other methods that could be followed to improve the progress measurement and reporting situation. 2. INTRODUCTION 2.1. Statement of the Problem There has been always a debate about the accuracy of the reports when the progress of small projects is presented. Those projects are mainly managed by non-structured project management teams like maintenance or operations personnel. Lack of use of basic project management principles throughout the project life cycle is the main cause of this problem. In several cases, project progress is not reported at all or reported inaccurately with no basis. As a result, project status becomes unclear causing the budget to overrun or schedule to suffer. In principle, project success is defined as the completion of an activity within the constraints of time, cost and performance. However, in the absence of proper progress measurement methodologies, there is no way to measure the success of projects. That is definitely a sort of deviation from the business strategic objectives that were set by the stakeholders for capital investment. 2.2. Study Objectives This study aims to improve the viability of the project outcomes by introducing a set of project progress meas... ... middle of paper ... ...s to delays in project closure which in turn makes the project status reports look unpleasant and project team appear unproductive. 2.6. Problem Root Cause Analysis Most of the problems are caused by different factors which vary in their impact on the project cost, schedule or scope. In the discussion of section 1.5, the root causes that affect the efficiency of projects can be concluded as follows: During Planning a. Clarity of scope b. Accuracy of cost estimates c. Absence of economic analysis d. Inexperienced project team e. Absence of project schedule f. Influence of senior management During Execution g. Lack of ownership by end users h. Lack of consistency in managing projects i. Absence of unified progress measurement system j. Low accuracy of status reporting During Closing k. Accountability of project team and end users in project close-out
Proper metrics must be in place to measure the progress of each step along the project.
The initiation phase of a project is not complete without a clearly defined goal and realistic, measurable objectives that describe the business benefits which are expected to be delivered upon completion of a project (Laureate Educatio...
When you are a project manager of a major project, one thing is certain, when the project is over, your reputation in your organization will either be better or worse depends on the how the project works out. This book is designed to help all project managers take charge of any major project and its individual responsibility. Michael Thomsett covers all the stages for a project to succeed. He stuffs a massive and impressive amount of words into 205 pages, although few times the text reads as if it is also the product of flow chart. Thomsett views on project management as more science than art, for example, that project managers should not build a “fudge factor” or “float into their budgets”. If you already are an accomplished project manager this book will seem basic to you. However if you recently started on this part or share the basics with your team member, you will find it quite helpful and
By coupling the balanced scorecard and the key performance indicators the managers were given a clear picture of what was important throughout the projects development (Basu, 2009). By paying more attention to the learning and growth perspective of their balanced scorecard the managers were able to ensure that their agreed upon timeline would be met. It also ensured that they were able to keep their quality and compliance standards
Projects are widely used by many organizations and government institutions in the course of conducting their business. One of the reasons for this is because they have been proven to be effective in initiating change and translating strategic programs into daily activities. However, it has been established that most projects fail to deliver on time, budget, and customer specifications. In most cases, this failure is caused by over-optimism by the project management team. This over-optimism commonly referred to as optimism bias can simply be defined as overestimating the projects benefits and conversely underestimating its cost and duration time. Research have portrayed that this is often caused by failure to properly identify, understand, and manage effectively the risk associated with the project therefore putting its success at jeopardy(Mott McDonald, 2002). Fortunately, this biasness can be detected and minimized during the project gateway process.
The intended audience of this document is the project team, project sponsor, management and all other
Jugdev, K. (2012). Learning from Lessons Learned: Project Management Research Program. American Journal of Economics and Business Administration , 4(1), 13-22.
One is that it has been reprehended as being conceptualized from the contractor’s point of view. Another was that it does not completely deliver guiding thoughts to the project manager on how to improve the budgeting or schedule for the betterment of the design. Lastly, it has disregarded the rudimentary truth of an Information System (IS) activity. In addition, PM textbooks clearly tell us that project success is about satisfying the functional demands on scope, time, and budget. Thus, this paper aimed to assess the existing concept of an IS project success and visit the different issues and concerns arising from the recent concept and tried to find out its impact to any project made by an individual or a team. Specifically, this paper wanted to find out if there are still some other components and needs to adjudge the outcome of a
UAE UAE Vietnam Kuwait Indonesia Factors that Influence Time & Cost Overruns Change or variation orders Change orders Poor site management and supervision Change Orders Design Changes Delay caused by owner Lack of capability of client representative Poor project management assistance Contractor Lack of Experience Inflation in Material Cost & inaccurate material estimate Oral change orders by owner Slow decision making by client Financial difficulties of owner Financial Constriants Poor Labour Productivity Delay in payments by owner Lack of experience of client in construction Financial difficulties of contractor Owners Lack of Experience Lack of Proper
A project is a temporary endeavour undertaken to create a unique product or service. They are goal oriented, have a definite start and finish time, must be done within cost, schedule and quality parameters. Projects involve the coordinated undertaking of interrelated activities (Project Management: Achieving Competitive Advantage). According to Tom Peters, “Projects, rather than repetitive tasks, are now the basis for most value-added in business”. Based on this, it is clear that projects are of utmost importance to businesses in both the service and the manufacturing industries.
Project management is said to be completed within time when it completed within the “triple constraints”: cost, time and quality. And in a lot of causes, one them is sacrificed so as to meet the other two. Project managers prioritize which ones are the most important.
I have to monitored ongoing project overall progress. If its perfoance comes out to be low I have to check it where the project is lacking in performance. That’s makes a successful project manager if he completed his project on time. As I am son of a businessman, I will try to maximize the outcomes at the end by hook and crook which will ultimately results in company benefits and makes me good project manager. Besides all this, I will have an eye on project performance from its initiation to completion. If I found any problem in project or delay in project, I can change methodology in order to complete the project on time. Becasue in all letertures there is common requirement that the project should complete on time. In an ongoing project, I will track the progress of the project and if I found it slower then I will change technique to accerlerate the process. I will manage the cost and quality to the best. For cost purpose, the estimation that is given by quantitative surveyor will be strictly implement on the project in order to complete the project under the budget not over budget.. For quality, I will assure that only quality products should be delivered for the project so that at the
...creased project value generation” and subsequently enhanced productivity. When time management is organized in a way to exploit the risk opportunities identified in the early project phase, increased productivity can result.
When planning a new project, how the project will be managed is one of the most important factors. The importance of a managers will determine the success of the project. The success of the project will be determined by how well it is managed. Project management is referred to as the discipline that entails the processes of carefully planning, organizing, controlling, and motivating the organization resources so as to foster and facilitate the achievement of specific established and desired goals and meet the specific criteria of success required in the organization (Larson, 2014). Over the course of this paper I will be discussing and analyzing the importance of project management.
Westerveld, E., The Project Excellence Model®: linking success criteria and critical success factors, International Journal of Project Management, Volume 21, Issue 6, August 2003, Pages 411-418. Science Direct [Accessed 10th February 2014]