Quantitative Analysis of IT Project Success and Risk Management Link

This report investigates the quantitative relationship between information technology (IT) project success and risk management. The study focuses on the existing stage of project risk management practices, organizational leadership commitment, and the implementation of these practices. It reviews literature on knowledge and information management, the role of project leaders, and the importance of teamwork in project success. The project's objective is to study knowledge and information management in project management, employing simple linear regression for statistical analysis and developing hypotheses to determine the connection between dependent and independent variables. The scope encompasses various companies managing projects successfully, emphasizing the pivotal role of project managers with accurate skills and knowledge for managing resources, timelines, and budgets. The report highlights the importance of integrating knowledge management with team efforts to enhance organizational performance and leverage human capital, noting the potential limitations and benefits of different team structures in knowledge utilization and transfer.

BUSINESS RESEARCH
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Executive summary:
The main aim of this report study is to do quantitative description in order to inspect the extent of
the association among the information technology project’s success and risk management. The
main variable of this project are: (a)the existing stage of project risk management practices ,(b)
the organizational leadership obligate on project risk management, and (c) the implementation
of project risk management practices.
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Table of Contents
1. Introduction..............................................................................................................................4
2. Project Objective......................................................................................................................5
3. Project Scope............................................................................................................................6
4. Literature Review.....................................................................................................................7
Research Gaps...........................................................................................................................12
5. Conclusion..............................................................................................................................13
6. Reference List............................................................................................................................14
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1. Introduction
This report introduces to the concept of knowledge and information management in project
management.The most important success factors in an organization are information technologies
and information system. It must be noted that Information system is having a crucial impact on
the organization’s productivity and performance. Numerous information technology projects
continue to be unsuccessful and do not meet budget or scheduled requirements. The main reason
which is cited for high rates of failure was the project managers were not properly managing and
evaluation project risk. The high amounts of challenged information technology project and the
extent of the link among theinformation technology project’s success and risk management will
be reflected further in this research study.
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2. Project Objective
The objective of this project is study the knowledge and information management in project
management: in this project simple linear regression was well-thought-out to be the most correct
statistical analysis for the study. To address the research study there hypothesis were developed.
Each hypothesis pursued to decide the extent of the connection among the dependent and
independent variables.
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3. Project Scope
The scope of this project is wide as it lays attention on the project management. The knowledge
and information management plays a pivotal role in the project manager. Project leaders are
required to have accurate and skills and knowledge for managing the project. The resources,
timelines and budgets must be pre planned before undertaking a project. The project is focusing
on numerous companies who are managing their project successfully. Hence, the overall scope
of this projects wide.
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4. Literature Review
Knowledge and information management
According to Ng, et. al. (2017), Knowledge and information are considered to be the most
appreciated resources for any military while in contradiction also turning out to be the new fog of
contemporary war. contemporary operation surroundings that are peacekeeping and peacemaking
forces discover themselves in required army officers to procedure the exponentially growing
quantities of data nourished to them by a countless of radars in the arena. In spite of an apparent
“ first agent benefit” recognized by the initial identification of instructionserudite dating from
Napoleonic times , to the United states military’s (CALL) Centre for Army Lesson Learned,
through to NATO’s most newcombinedexamination and educations learned departemnt. There
still occur a division among military adoption and civilian KM adoption. This stems from safety
concerns hampering interoperability, the nonexistence ofaccepting by the military staff in the
correct safety marking of pamphlets andlastly a non-existence of mindfulness reading the belief
of duty to share.
One of the importantanswers of this investigation noted above, and one which is right now being
on paper about is the frequency of the armed staff to intentionally over- classify brochures that
are occupied on so as to err on the adjacent of cautiousness, and for unwellplanned data system
to prolong this problem. Military should guarantee that they stay in touch of appropriate
interoperability attentions and canons when implementing/manipulative any system. Appropriate
utilization of standards like STANAG (standardization agreement) and interoperability podiums
like multilateral interoperability programmer (MIP) must be leveraged to the filled, where fullest,
utilization one podium and control access rights accordingly. Another main finding is that there
is currently inadequate reward system in place to inspire staff to make a significant contribution
to the informationwealth of the organization. This issue is serious by the perceived benefits of
doing the opposite which is sign knowledge (Ng, et. al., 2017),
According to Zhao, et. al. (2013), In addition to the usual suggestions (top level assistance for the
new enterprises, more training etc.) this investigation recommends that which reward
contribution to the KM and penalize non required hoardings are vital. Good clarity regarding the
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secrecy is also crucial, at presents, the armed staff will undertake the most
deterringguidelinesapply unless they recognize otherwise, mainly in a
transnationalfunctioningsituations. Respectable rules are important. Promoting communities of
preparation will uplift sharing and collaboration. In the military these can have numerous
nuisances from the non-combatantsscope, but the rudimentary philosophies remain the same.
Newtestslast to arise, in any circumstances infosurplus is an also a big issue. In the armed
background, it can factually be deadly. such investigation suggested an increased investment and
awareness in knowledge and information management in defence. With the corrective balance of
technological and human interactions, knowledge and information transfer mechanism &
frameworks can be managed and facilitated to supply corrective information at the right format,
right time to the correct persons to content the armed decisions maker’s information aims and
requirements. But efforts compulsory is significant and should be executed and planned with
assistance of all positions (Zhao, et. al., 2013).
Role of project leaders
According to Byrne and Bannister (2013), The project leaders could utilize performance
measures and leadership techniques to assist the project team in improving their skills and
knowledge of their organization’s business strategy via the utilization if balance card technique
on project team for the aim of reporting project performance information to the decision making
personnel’s. It can be seen that project performance information should itself be “immediately
vital“to those managers who are tasked with complicated decision making relevant to assuring a
timely understanding of the business tricks. The need of internet speed is required so that the
delivery of the performances can be done by the business. thus executives charges with strategic
project portfolio performance who do not take this feature of their decision taking procedure
seriously, could be destabilized as their project portfolio performance continues to reduce or
performs poorly on the basis of timeliness, accuracy and frequency of the project information
they receive(Byrne and Bannister, 2013).
According to Drewery-Brown (2010), The findings which are linked directly to the frequency
variables generated the results that only 11% of those survey reflected that they acquired project
performance information on either a four time monthly or twice monthly basis. The kinds of
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project performance information acquired by these executives were mainly scheduled, resource
status and budget. Acquiring these kinds of project performance information on a relatively
routine basis permits executive charge with the project performance management to base their
decisions on the existing data. With the project performance information accessible more
routinely, the executives can make variations designed to manipulate the performance of the
project and recognize the results more fatly in response to their project performance
manipulations (Drewery-Brown, 2010).If their variations are working the comeback can be seen
earlier and linked more definitively with the variable that was changed.
Management of the project
According to Del Giudice and Della Peruta (2016), Frequency denotes to the number of times the
executive receives their project performance information, timeliness denotes to how close to
their decision making efforts that performance of project is being transported. Frequency is
closely related to the timeliness because in the relation of frequency , the more “times” data of
being delivered , the more that data is considered to be available from the utilization by the
executives in their decision taking procedure as it links with the managing the performance of
the project . It is further discovered that more then half of the population understand the
importance of project management. these findings denotes the kind of project performance
information business manager requires to make budget , resource and schedules adjustments was
obtained to them in the duration the time frames they required to assist their decisions making
initiatives. The project performance information will be transported quickly and could be
considered timely by those who are in need of making project performance management
decisions.
Management of the project schedule activities uses resources could be most efficient performed
as the data for both resources and schedule are linked with the gender, tenure or ethnicity as it
interrelates to the utilization of project performance information in terms of the frequency
variable or timeliness, accuracy. The influence of the project performance information variables
(frequency variable or timeliness, accuracy) as gathered by the managers in making the project
decisions was not at all affected by the manager’s gendered , tenure and ethnicity. An executive
tenure, ethnicity and gender also had no influence on how that executive utilized project
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performance information like the budget, resource data and schedule to easily manage the
performance of projects. Only the exact information acquired frequently and on a timely basis,
budget, relevant to schedule and resources on a project by manager charged with decision taking
to improve project performance was recognized as having any influence no matter what the
executive ;s tenure, ethnicity or gender (Del Giudice and Della Peruta ,2016).
According to Shujahat (2017), Based on the above discussion it can be suggested that replicating
the existing studies with the large sample populations of the project managers working in
numerous settings to upsurge the general ability of the conclusion using the same survey.
Replicating the existing studies with similar sample of project management by utilizing the
qualitative phenomenological methods to get valid and reliable conclusion is important. In
addition to this, comporting the manager reply to existing survey in a particular industry by using
the six sigma or balance card techniques assist in intensifying the application and knowledge of
this study. Further, comparing the project leader response by utilizing the qualitative
phenomenological interview methods, the six sigma or balance scores card technique to validate
the results and findings from this study (Shujahat, 2017).
According to Huang, et. al. (2016), Knowledge management provides a means to store and
capture the company’s information while teams and individuals develop knowledge and ideas for
the company. The companies in every area is trying to acquire new procedures, frameworks best
practices and methods to develop better leverage and understanding the most crucial human
resources- knowledge. Teams are an important strategy which permits the companies to
successfully leverage intellects and human capitals, meeting consumer’s requirements in global
competitive markets. Further, teams can be used as a sub procedure to knowledge management,
and team can affect the company’s through knowledge management functions (Huang, et. al.,
2016).
According to Goel, et. al. (2010),the theories and framework rotating around the knowledge
management and teams have numerous same advantage and knowledge designs. Themself-
organization nature of a team is mandatory in creation of innovative knowledge in which the
teams are being capable of developing rubout knowledge with the help better investments and
investigations. In correspondence with this view point, the theoretical model which is being
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launched in these documents identifies or recognizes the team as a procedure for knowledge
management providing the fuller utilization of knowledge transfer, utilization and its storage.
The practitioners in this area of knowledge management are being easily able to incorporate or
indulge team as a prime benefit in developing a knowledge management culture(Goel, et. al.,
2010),
Importance of working as a team
According to Turner, et. al. (2012), the benefits of knowledge utilization experience from the
teams can be widened to the higher organizations or big cohobate as a methodological procedure
in the direction of implementing the functions of knowledge management. Some limitations can
be service through these efforts depending on the kind of team indulged in a project. for
example, it will be really easily to incorporate a local team where the team mummer are being
able to function face to face as opposed to a hypothetical team were the team managers are
being forced to develop interactions across the information system. The future research could
lay attention on transporting the knowledge from team to team and from team to departments
within the knower management structures. When recognizing the team as a sub procedure to the
knowledge management research could be developed to recognize the results are desirable to the
procedure of knowledge management. The information system and knowledge management at
times ignore the complexities of the nature of team knowledge sharing and acquisition (Turner,
et. al., 2012). The teams who are being trained together are more likely to recall more
information as contrasted to the team in which each member I trained individual. By giving
training to the team as a single unit it was believe that the team will be having more time to cite a
Tran’s active monetary system, hence, enhancing the information system storage and developing
better recall of the information.
According to Prickett, et. al. (2017), this complicated system of team management can be greatly
benefited from the capacity of the information technology system which leverages the
performance and learning complexities of a team. This is considered to be a very rich filed of
investigation which leverages framework and theories from information science, management,
human resource development, and psychology and knowledge management in the direction of
goals of learning and performance innovation of team, organization and individual. it should be
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note that knowledge process management plays a pivotal role in the development and
implementation of the project. The role of manager in forming a team is of prime importance as
it is a team which is responsible for the successful completion of the project. Further, it can be
seen in the recent years that the need for teamwork and leadership is rising in the companies for
the accomplishment of business goals in an effective and efficient manner (Prickett, et. al.,
2017).
Research Gaps
Research gap is often termed as research limitation. A gap in the research is the limitation or
drawback which hinders the quality of the research and makes it a waste. The essential limitation
or gaps which are affecting the current investigation are: Firstly, the existing study is limited to
voluntary participants, and is restricted by the rationality of the information provided. Secondly,
the survey entailed a one –time measurement model and was restricted to the validity and
reliability of the instruments utilized. Third, the existing study was limited to the degree time
made accessible for completion. There were no limitations or gaps faced during the
investigation, and henceforth did not have an impact to the findings.
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