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Project Management and Benefits Management - PDF

   

Added on  2020-09-09

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Role of Project Management and Benefits Management Practices onthe success of investments in the processDissertation[Student Name][Institute Name]

Table of Contents1Introduction..............................................................................................................................32Literature review......................................................................................................................32.1Theoretical Overview........................................................................................................32.1.1Project success and project benefits..........................................................................32.1.2Benefits management.................................................................................................52.1.3Project benefits governance framework....................................................................62.1.4The relationship between PM and BM under a project benefits governance framework................................................................................................................................82.1.5Project success...........................................................................................................92.1.6Significance of Project management.......................................................................102.2Empirical Overview........................................................................................................112.2.1Pearson’s Correlation Analysis................................................................................122.2.2Regression Analysis and Correlation.......................................................................123Gap in Knowledge.................................................................................................................134Conceptual Framework..........................................................................................................13.......................................................................................................................................................135References..............................................................................................................................14

Role of Project Management and Benefits Management Practices onthe success of investments in the process1IntroductionThe literature review discusses ideas, frameworks and theoretical underpinnings from a number of academic viewpoints. This deals with the scientific methodology, theoretical guidelines,and measures the methodological performance and reliability. In addition, the procedure is also checked whether or not it is sufficient to operate on the basis of the scope of the literature in the research. This literary review primarily aims at exploring the differences between earlier research and current research in philosophy and analytical methods. In the literature review, the comparisons and disparities between new studies and prior results are also discussed. It, therefore, recognizes that many researchers who have concluded their studies have conceptualized the relationship between project management and benefits management with respect to the success rate of investment. A literature review of ‘Role of Project Management andBenefits Management Practices on the success of investments in the process’ is articulated in thisresearch study.2Literature review 2.1Theoretical Overview2.1.1Project success and project benefits The primary objective is to maximize organizational interest through the use of a project management system (Dalcher, 2012). Through enhancing the efficiency of individual resources in the company, the company will prosper from the use of a project management system. Project performance is therefore calculated by its short-term output and productivity in the attainment of medium and long-lasting expected outcomes (Müller & Jugdev, 2012). The importance of the project can, therefore, be interpreted to the degree that it meets customer needs, aligns the performance of the project with the organization's policy and offers a return on investment. Fromthe conventional viewpoint, though, there are no appropriate differences in reach for initiatives

or over-budgeting and planning. The accomplishment of the project goals is therefore consideredprogress in project management or internal project efficiency (Golini et al., 2015). Furthermore, the quality of the project production to generate the anticipated return on investment is the secret to the economic growth of the company (Camilleri, 2011). Project progress thus represents the capacity to produce a return on investment of the project (Zwikael and Smyrk, 2012).Nevertheless, the completion of programs is more difficult than the performance of project management. The performance of programs requires a system-oriented strategy for comprehension and control of the internal and external ecosystem (Zwikael & Smyrk, 2012). Cserháti and Szabó (2014), for instance, have shown that relational performance factors such as connectivity, teamwork, and leadership are more important than task-orientated factors. Müller and Turner (2007) confirm this research by showing that more competent project managers are more willing to establish collaboration and are more investment-friendly.Consequently, the methods used by Golini et al (2015) to achieve project management performance (i.e. the vital monitoring system and Gantt chart) vary from those used for the effectiveness of project funding, because they are similar to stakeholders ' management, for example, the framework of the stakeholder and duty distribution matrix. A profit is defined as "an achievement for a specific stakeholder or group of players" (Ward & Daniel, 2006). Nevertheless, on the grounds of different requirements, this description is generalized. First, without changes to the existing situation no gains can be obtained (Hornstein, 2015). Second, efforts to identify goals and objectives should be defined for each dimension of project progress (management and investment). Lastly, benefits ought to be held and distributed to a particular person or organization responsible for implementing them (Winch & Leiringer, 2015). In addition, the benefits will never improve if the beneficiary is not eligible, because no-one is involved in using the project production to catch the advantages. Therefore, this work broadens Ward's and Daniel's concept of project incentives as a "tangible gain of the community of actors involved in changing the current iteration by project management processes." The project advantages that can be expressed in the Key Performance Indicators (KPI) can be either financial or non-financial. The advantages of the project and the performance of the investment project are subtly different: the progress of the investment project seems to be more holistic and covers both the economic and financial advantages of the project. In other terms,

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