Critical Success Factors in Project Management: A Detailed Report

This report delves into the critical success factors of project management, emphasizing the application of knowledge, skills, and techniques to meet project requirements within specified time, cost, and quality parameters. It analyzes factors such as project planning, scheduling, leadership, sustainability, communication, and goal setting, drawing from past literature to identify significant elements contributing to project success. The report discusses the traditional 'iron triangle' of time, cost, and quality, while also examining more recent research that highlights the importance of manager and member competencies, external stability, and effective stakeholder engagement. Furthermore, it explores the impact of leadership styles, communication strategies, and resource allocation on project outcomes, ultimately concluding that a combination of hard and soft skills, along with effective project management methodologies, are crucial for achieving project success. Desklib provides access to this and other solved assignments for students.

CRITICAL SUCCESS
FACTORS OF PROJECT
MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION......................................................................................................................3
Core principles of project management.................................................................................3
MAIN BODY.............................................................................................................................4
Project management...............................................................................................................4
Critical success factors in project management.....................................................................5
CONCLUSIONS........................................................................................................................8
2

INTRODUCTION
Project management is the application of knowledge, tools, skills and techniques to
project activities to meet the requirements within specified time period, cost and quality
(What is Project Management? 2018). It is the process of evaluating the issue and develops
an effective, time bound solution to attain sustainable result to the problem. The current
report is based on the critical success factors of project management. Success of project
management demand effective knowledge about the factors, well defined management and
efficient results. The goal of this assignment is to analyse the major factors which contributes
in the success of project management. Brief analysis of different factors such as time, cost
and budget has been analysed. However the current project management aspects reveals that
factors such as project planning, scheduling, leadership, sustainability, communication, goal
setting etc are crucial. The above mentioned factors have been analysed and evaluated in the
study. Different researches have evaluated different factors resulting in the success of project.
The current study will undertake an in-depth analysis to evaluate these factors. Past literature
review will be undertaken to identify the focus of different study and evaluate what critical
factors have been considered significant in order to ensure the success of project
management.
Core principles of project management
Figure 1 Principles of project management
(Source: What is project management? (2018)
Project management is a process of efficiently dealing with a short term project in a
structured and well managed manner. The major factors associated with the discipline
includes, scope, cost, time and quality. According to Caccamese & Bragantini, (2012)
success of the project was traditionally associated with the ability of a manager to deliver the
3

project objectives within predefined scope, quality, cost and time. This concept of iron
triangle helped in developing a significant base for project expectations (Caccamese &
Bragantini, 2012). These measurable skills focused on four core aspects of project. Time
focused on the project duration. The traditional belief of project success was directly
associated with time schedule. Completion of project in stipulated time was critical success
factor. Budget was another crucial aspect for project success. The project manager is
expected to ensure that the cost of the project was within stipulated budget thus creating a
significant check on project cost (Haughey, 2010). Quality of the final project was the third
factor which stated that the final project outcome must be of the same quality as was
promised by the manager. This principle states that there must no gap within actual and
expected quality of the project. The overall evaluation evaluated the core expectation of
successful project however these expectations are challenged and criticised by the scholars.
The following analysis will focus on examining different success factors which has been
analysed and discussed my different authors and scholars.
MAIN BODY
Project management
Project management is the discipline which uses established procedures, principles
along with policies so that project can be managed efficiently from starting to end. It is
bounded with responsibilities that to deliver the outcome on a time in expected budget. It
operates in an effective manner by adopting a planned and structured approach which results
in ensuring growth and success of the projects. Different factors contribute in ensuring the
success of the project (Hughes, 2010). Project management procedure and principles have
significant impact on the success of the projects because it provides a strategic alignment to
the work. Moreover, it ensures that what is being delivered is right and offer real value
against the business opportunity. Effective leadership and management of the project is
another crucial factor which leads towards effective competition of the project. Leadership is
helpful in removing the bottlenecks and inspires the entire team to perform in a better way
(The Project Manager of the Future, 2018). Delivering of quality projects is a challenging
task in the current competitive business environment because the projects cannot be managed
in a very tight budget as well as compressed schedule, it has adverse impact on the quality.
Project management ensures quality aspects aligning it with systematic planning at every
stage of the task. Therefore, it reveals that the project can be effective in the situation of
4

availability of skilled resources and maximum time period because that would not affect the
quality component.
Critical success factors in project management
A project needs the effective planning, availability of resources which has direct
impact on the success/failure of the projects. Time management, sustainability, external
environment, selection of better project management techniques etc. are the critical factors
which has tremendous contribution in the success of specified task. The detailed evaluation of
major critical success factors of project has been discussed by referring to different past
researches and literature on the topic.
According to Thi & Swierczek, (2010) Cost, time, customer satisfaction and technical
performance were the critical factors analysed in past studies that have significant role in the
success/failure of the project. Undertaking research on infrastructure projects the author
evaluated the key factors contributing in project success. A sample of 239project members
and managers involved in Vietnam projects helped in assessing the data for the study. A well
structured and in-depth analysis of the topic was undertaken. The evaluation concluded that
manager competencies, member competencies and external stability are
the factors which share positive relationship with success criteria of
project management. These factors provide significant strength and
efficiency to the project execution. Competent members are the
resources who contributes in project competition, competencies
contributes in effective planning, execution and implementation while
external stabilities helps in minimizing the impact of risk on the project. A
competent manager is the key resource to evaluate and monitor project
lifecycle while focusing on efficient progress. The overall impact of the
stated factors help in ensuing success and lack of these factors may result
on project failure as well.
Further, KianiMavi & Standing, (2018) undertook an in depth research and the
findings of the paper revealed that construction projects lack effective categorization of
success/failure factors in project management. Using technical application of DEMATEL
method to evaluate the success factors five major categorization of the factors was done. The
analysis conducted research to identify interdependence while examining weights allotted to
the factors. The sample of 26 project managers from Australian working for construction
5

industry was selected. The findings revealed that external environment and sustainability
were the cause factors while project management was the effect factor. It was evaluated that
top management and sponsor support is one of the crucial aspects which is weighted highest
in the category, in addition to this stakeholder’s expectation and end user’s restrictions are
effective factors which ensures project success in construction industry. The evaluation of the
study created a well defined impact on understating different aspects of project management
issues which affect the success aspect of the same. Therefore, it shows that cost factor is
important for the triumph of the projects because less cost is lead to success and vice versa. In
this manner, the better combination of the cost, scope and time is required for the
effectiveness so that quality cannot hamper (KianiMavi & Standing, 2018).
Ceptureanu, (2016) undertook the study for evaluating success of infrastructure
projects and to analyze the issues which affect the success and failure of these projects. The
research focused on collecting the data from projects which are funded by European funds
and were undertaken in Romania, Bulgaria, Moldova, Ukraine, Serbia and Kosovo. The data
was collected from the team of consultants working for the projects and also consultants
working for international projects. The empirical data collected on the subject helped in
revealing that effective team and technology is crucial in attaining success and growth of the
projects. The analysis revealed that leadership styles of project manager are the most critical
factor for project success. The findings reflected the significance of management style in the
success of project for the long run growth. The author revealed that ineffective leadership
may lead to failure of project even of sophisticated project management tools are
implemented According to Ceptureanu, (2016) infrastructure projects demands significant
contribution in terms of function and there is significant research gap in the aspect however
factors related to leadership styles lead in success/failure of the project. Hence the evaluation
focuses on the need of effective leadership as critical success factor for infrastructure
projects.
Besteiro, de Souza Pinto & Novaski, (2015) undertook the analysis to analyse the
variables which contributes in the success of project management. A structured analysis was
undertaken to understand and categorize various factors affect project management success
and failure. The classification of variables was done in four major groups; management skills,
critical success factors, monitoring and control and lessons learned according to PMI
methodology. The application of statistical testing and data analysis it was revealed that
project management methodology and principles are critical for undertaking successful
6

projects. However communication at different stages of project management helps in
efficiently ensuring progress and control. Moreover time and budget were analysed as critical
factors from lessons learned drivers. Evaluation of project scope and effective decision
making aspects were also considered critical for success of projects (Besteiro, de Souza Pinto
& Novaski, 2015). Hence the evaluation reflected that both hard and soft skills are critical for
success/failure of the projects.
Sanchez, Terlizzi & de Moraes, (2017) undertook the resreach for the success of IT
projects. A multilevel analysis was undertaken to evaluate and understand the critical spects
of project success and failure. Author revealed that development of efficient information
system creates a competitive edge for the projects, however managing time and cost factors
were stated critical success aspects. Terlizzi & de Moraes, (2017) argued the Cost and Time
Project Management Success is critical for project success. The overall findings revealed
that the cost of project cost can be reduced with the help of the allocating the right people
because it enhances the quality and productivity of the work. Hence, if the productivity is
maximizing then the chances of success of projects are increases. The success of the project
can be affected by better composition of cost and skills because these are the important
factors. In addition to this effective communication is significant in thus aspect as well.
Developing effective communication plan contributes in schedule planning and management.
Nonetheless, Sanchez, Terlizzi & de Moraes, (2017) argued that more time constrains affects
the quality because due to time bound workers perform the task in quick manner. In this
regard, the workers not focus on the quality due to deadlines and ultimately it reduces the
quality and leads the project to failure.
Kanter & Walsh (2004) asserted that allocation of right resources at right time is
useful to maximize the productivity of the projects and these can be done with the help of the
pre planning of the estimated resources. The research revealed that organizational skills and
past failure aspects need to analysed and developed by implementing effective change to
ensure project success. Facilitating change to minimize the negative impact of project
limitation was key contribution of the author. Bayiley & Teklu, (2016) undertook the study to
analyse the success factors for EU development cooperation projects. The four CSFs
analysed were intellectual capital, sound project case, key manpower competency and
effective stakeholder engagement. The findings revealed that strong policy, strong local
ownership, motivated team, effective planning and efficient rules as key success factors. The
7

study ranked intellectual capital and team management as high ranked aspects while
consultation from stakeholders was underscored factor in the analysis.
Zwikael, & Globerson, (2006) conducted the research to differentiate factors of project
success from that of project failure. The study undertook the field study of 282 project
managers to reveal that overall project planning, scheduling, communication resource
allocation and project plan development were the major factors which ensured a project
success. Among these schedules planning, communication planning and time management
aspects are critical for the success. Risk management and resource planning however low
impact has on overall project success.
CONCLUSIONS
On the basis of discussions, it can be concluded that effective project management
depends on the contribution of all necessary factors like cost, time, and sustainability. Project
management is important for the smooth running of the task. Further, it can be concluded that
time management is one of the needed factors for the success of the projects because time
bound provides the effectiveness in the work. Moreover, it is also concluded that the core
principles of time cost and quality is critical however soft skills such as communication,
planning, team management, leadership etc are equally critical. Cost and time both are
interlinked together because less time leads low cost and vice versa. Furthermore, it can be
concluded that for the completion of big projects with minimum cost, cost management tools
are required like BPR. But for the large project, skilled resources are required which are
demanded high prices and leads the cost high in compare to small projects. At the end, it is
also concluded that external environment like weather conditions, social environment affects
the efficiency and success of the projects. So, before commencement of the project, external
factors should be analyzed because they affect the projects during the planning phase.
Furthermore, external factors are not under the control of project team if they are arising
during the stage of completion. Further, at the time of completion, only two options remain
that either closes the project or proceeds with uncertainties. So, it is required to better
management of time along with cost to deliver the quality of work.
8

REFERENCES
Bayiley, Y. T., &Teklu, G. K. (2016). Success factors and criteria in the management of
international development projects. International Journal Of Managing Projects In
Business, 9(3), 562-582. doi:10.1108/IJMPB-06-2015-0046. Accessed through
<https://web-b-ebscohost-com.library3.webster.edu/ehost/detail/detail?
vid=4&sid=884ff71a-d85a-4188-a4b3-820aef90c280%40pdc-v-
sessmgr01&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d
%3d#AN=115385353&db=bth>
Besteiro, É. C., de Souza Pinto, J., &Novaski, O. (2015). Success Factors in Project
Management. Business Management Dynamics, 4(9), 19-34. Accessed through
<https://content.ebscohost.com/ContentServer.asp?
T=P&P=AN&K=110238216&S=R&D=bth&EbscoContent=dGJyMMvl7ESep6440d
vuOLCmr1CeprFSsqi4TLOWxWXS&ContentCustomer=dGJyMPGut1G1qLdKuePf
geyx44Dt6fIA>
Ceptureanu, S. (2016). CRITICAL SUCCESS FACTORS FOR INFRASTRUCTURE
EUROPEAN FUNDED PROJECTS. Annals Of The University Of Oradea, Economic
Science Series, 25(1), 888-898. Accessed through <https://web-b-ebscohost-
com.library3.webster.edu/ehost/detail/detail?vid=4&sid=7729cfaa-0c32-4eec-ba60-
b44c7f876496%40pdc-v-sessmgr04&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d
%3d#AN=130045782&db=bth>
Haughey, D., (2010). Eight Key Factors to Ensuring Project Success. [Online]. Accessed
through <https://www.projectsmart.co.uk/white-papers/eight-key-factors-to-ensuring-
project-success.pdf >. [Accessed on 22nd September 2018].
Huges, S., (2014). Five Critical Success Factors for Project Managers. [Online]. Accessed
through < https://www.ies.ncsu.edu/blog/five-critical-success-factors-for-project-
managers/>. [Accessed on 22nd September 2018].
Kanter, J., & Walsh, J. J. (2004). TOWARD MORE SUCCESSFUL PROJECT
MANAGEMENT. Information Systems Management, 21(2), 16-21. Accessed through
<https://web-b-ebscohost-com.library3.webster.edu/ehost/detail/detail?
vid=20&sid=884ff71a-d85a-4188-a4b3-820aef90c280%40pdc-v-
sessmgr01&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#AN=12649741&db=bth>
9

KianiMavi, R., & Standing, C. (2018). Critical success factors of sustainable project
management in construction: A fuzzy DEMATEL-ANP approach. Journal Of
Cleaner Production, 194751-765. doi:10.1016/j.jclepro.2018.05.120. Accessed
through <https://web-b-ebscohost-com.library3.webster.edu/ehost/detail/detail?
vid=4&sid=7729cfaa-0c32-4eec-ba60-b44c7f876496%40pdc-v-
sessmgr04&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d
%3d#AN=130045782&db=bth>
Sanchez, O. P., Terlizzi, M. A., & de Moraes, H. C. (2017). Cost and time project
management success factors for information systems development projects.
International Journal Of Project Management, 35(8), 1608-1626.
doi:10.1016/j.ijproman.2017.09.007. Accessed through <https://ac-els-cdn-
com.library3.webster.edu/S0263786317306336/1-s2.0-S0263786317306336-
main.pdf?_tid=dc0660e5-46b7-4885-9cc1-
c311c3a5024c&acdnat=1536571249_7b4ce2b2eb46563a624a7e0db758dbf3>
The Project Manager of the Future, (2018). [Online]. Accessed through <
https://www.pmi.org/-/media/pmi/documents/public/pdf/learning/thought-leadership/
pulse/digital-pm-skills.pdf?sc_lang_temp=en>. [Accessed on 22nd September 2018].
Thi, C. H., & Swierczek, F. W. (2010). Critical success factors in project management:
implication from Vietnam. Asia Pacific Business Review, 16(4), 567-589. Accessed
through <https://web-b-ebscohost-com.library3.webster.edu/ehost/detail/detail?
vid=9&sid=12e0329a-259a-4fcc-a7b9-
f67e2aa244c6%40sessionmgr104&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d
%3d#db=bth&AN=54724348>
What is Project Management? (2018). [Online]. Accessed through <
https://www.pmi.org/about/learn-about-pmi/what-is-project-management>. [Accessed
on 22nd September 2018].
What is project management? (2018). [Online]. Accessed through
https://www.apm.org.uk/resources/what-is-project-management/>. [Accessed on 22nd
September 2018].
Zwikael, O., &Globerson, S. (2006). From Critical Success Factors to Critical Success
Processes. International Journal Of Production Research, 44(17), 3433-3449.
Accessed through
10

<https://web-b-ebscohost-com.library3.webster.edu/ehost/detail/detail?
vid=5&sid=12e0329a-259a-4fcc-a7b9-
f67e2aa244c6%40sessionmgr104&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d
%3d#db=bth&AN=21895477>
Caccamese, A. & Bragantini, D. (2012). Beyond Iron Triangle. [Online]. Accessed through
https://www.pmi.org/learning/library/beyond-iron-triangle-year-zero-6381>.
[Accessed on 22nd September 2018].
11