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Project Success or Failure Thesis

DISCUSSION – 01 FACTORS LEADING TO SUCCESS OF A PROJECT

 

Project Success or Failure

Projects have been used in all financial and non-financial domains to organize activities to achieve desired goals. Projects, project portfolios, programs, and organizational strategies are connected. Project success was identified as a complicated, multi-dimensional notion with numerous features. Success factors can be thought of as crucial elements that aid in the development or as mechanisms that project leaders can employ to increase the chances of obtaining the desired outcomes.

Factors That Lead To Success of a Project

            The project manager largely determines a project’s success or failure. A project manager must be competent and also efficient for a project to be a success. They must understand how to get things done by their members of the team. Other critical aspects influence the success of a project.

· Smart People: Any strategy or plan cannot work unless the appropriate people are on the team. All project contributors must commit to the group and strive for overall success. Members of the core team generally do better if they have a business administration certification because it aids in comprehending their work (Durmic, 2020).

· Resourceful Planning: All-inclusive planning positions a project for success from the start. Comprehensive policy assists team members in fulfilling the project manager’s deadline. It also helps them stay organized and focused.

· Persuasive Communication: A project’s success depends on carefully listening and maintaining an ear to the ground for new information.

Factors That Lead To Failure of a Project

· Incompatible Communication: Several studies have shown that inconsistent communication causes 58% of projects to fail, making it one of the most important causes of project failure.

· Inefficient Planning: Weak planning might easily lead to the project’s failure. As an applicant, I am working on an online project.

· Unrealistic Expectations: Since the deadline was difficult to meet and the unreasonable objectives, these enterprises had to concede defeat. As a project manager, you must keep in mind the abilities of your members of the team (Beleiu, Crisan, & Nistor, 2015).

Purpose of Monitoring and Controlling a Project

The basic objective of controlling and monitoring and is to be competent at detecting problems and take appropriate action. Appropriate action may need reviewing the Planning Phase Group and, if needed, changing the plan of project management, with the final objective of carrying the project back in line with the project purposes and requirements, as well as improving future performance to prevent similar the same errors. A project’s thorough plan serves as the framework for project monitoring, communicating status, and taking relevant steps (Khraiwesh, 2013).