Paper on Sponsors Influence Project Success

Added on - 18 Sep 2019

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Running Head: HOW EXECUTIVE SPONSORS INFLUENCE PROJECT SUCCESSHow Executive Sponsors Influence Project SuccessStudent Name:Student ID:Course Name:Course ID:Faculty Name:University Name:
HOW EXECUTIVE SPONSORS INFLUENCE PROJECT SUCCESS1IntroductionThe current paper is concerned with assessing the aspects of the case “How ExecutiveSponsors Influence Project Success”. The sponsors are an integral part of any projectmanagement and their level of contribution is likely to make or break the project progress.Executive sponsors are the individuals at the senior positions within an organization and isgiven responsibility for the project success. The sponsors within the project are generallyresponsible for variety of aspects. Some of the responsibilities of the project sponsors areproviding leadership on cultural and value aspects, focusing on realizing benefits, providingfeedback, and others (Davis, 2014). Some of the areas are handled by project sponsor incombination with the input from project managers such as timely decision making,developing frameworks for the decision making, establishing trust, managing relationships,and others (Bryde, 2008). Moreover, the project sponsors engage with the stakeholders, buildclient relationships, engage in handling stakeholder communications, and handle other suchaspects. The next chapter on Key Learning presents the aspects that have been learned fromthe case which is followed by the next chapter on application of those learning on a realproblem solving. In the end, a conclusive remark has been given based on the overall study.Key LearningThe case on “How Executive Sponsors Influence Project Success” undertook certain fieldstudy to understand the sponsor behavior and project success. It has been found that in mostof the cases the planning and executing overlaps and is iterative in nature. Moreover, it hasbeen stated that conventionally there are three criteria that speaks of project success namely,cost, schedule and performance. However, some of the researches have led to theunderstanding that the important success factors are customer impact, meeting agreements,and benefits gained by the company (Kloppenborg, & Tesch, 2017). The customer impact isassociated with the meeting of needs. This requires designing deliverables that are closely ordirectly associated with the need of the customers for whom the project is being designed.Completing the project within the given duration, defined budget, and as per the requirementsprovided is another success factor. The assessment of the case led to the understanding thatmore than 1000 respondents were analysed to identify the behaviors of the sponsors that areimportant for the project success at each stage. The sub-sections below briefly shows thelearning gained regarding each of the stages:Initiation StageIt has been understood that during this stage the project sponsors and the managers shouldengage more often informally to ensure that the trust among them is built. Moreover, it isimportant that the clear goals and objectives should be defined. If the expectation about theperformance will not be clear then it is less likely that the project will stand on expectation ofanybody. Another important aspect is the selection of a right project manager and thenproviding useful mentorship (Kantolahti, 2016). This helps the project manager understandthe bigger picture and set the priorities. The establishment of priorities allow projectmanagers understand what to be done first.Plan StageHere, the executive sponsors engage in activities that results in plan development and buildsrelationship with the stakeholders. The responsibilities of planning is of project manager,
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