Project Management Success

Introduction To some degree, the success of every project depends on the expertise of a leader who has to guide the activities of team members and foster their cooperation. In some cases, this professional has to coordinate the work of people who may be located in different countries and this task can be very challenging.Advertising We will write a custom assessment sample on Project Management Success specifically for you for only $16.05 $11/page Learn More This paper is aimed at discussing the key factors needed for project success and team building. In particular, close attention should be paid to such concepts as key performance index, communication strategy, and performance measurement tools. They are critical for the effective work of many businesses and public organizations. Apart from that, it is important to focus on the role of managers who should possess various skills that are related to different areas such as HR policies, cross-cultural com munication, or motivation of employees. These are the main issues that should be discussed. Key performance index One of the most important tasks is to monitor the progress of team members and eliminate possible problems or mistakes that are often inevitable. However, this task can be done properly if there is the key performance index or KPI that helps a leader identify the strengths or weaknesses of a project (Lan Untelkar 2006, p. 106). This concept is used to describe an indicator or a group of indicators that are most important for an organization (Lan Untelkar 2006, p. 106). To a great extent, they reflect the goals that the project is supposed to attain (Lan Untelkar 2006, p. 106). So, at first, it is important to distinguish the criteria according to which the performance of a team should be evaluated (Chan Chan 2004). It should be noted that companies can have different KPIs. They can be related to the operational costs of a project, functionality of a product, timeline s, customer satisfaction, increased rates of production and other parameters that are taken into account by managers (Marks 2012, p. 53).Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Overall, the development of these indicators is one of the first steps that managers should take prior to the start of any project. To a great extent, KPIs help leaders determine whether the team achieves the goals that were set at the very beginning. This is why management should concentrate on the development of key performance indicators. Without them, the organization will have to face many pitfalls such as delays. This is the importance of KPI should not be overlooked. Communication strategy Additionally, it is important to speak about the communication strategy adopted by an organization. The exchange of information is critical for every activity involved in the project. Therefore, one should dete rmine how different participants can interact with each other (Turner 2007, p. 790). Business administrators should remember about several aspects of this question. First of all, they should think about the communication with major stakeholders such as clients, business partners, corporate executives, suppliers and so forth (Turner 2007, p. 790). They should know how the project is managed and what kind results are achieved (Turner 2007, p. 790). Furthermore, they should be able to interact with the team members and make recommendations if they are necessary (Ndoni Elhag 2010). The manager should distinguish different types of information and determine how it should be communicated. It is necessary to focus on data related to the project plan, its status, and key events or problems encountered by the team (Binder 2007, p. 101). This is one of the issues that should be considered. Provided that a leader achieves this goal, it will be possible to avoid many conflicts and delays.Adver tising We will write a custom assessment sample on Project Management Success specifically for you for only $16.05 $11/page Learn More Apart from that, it is important to speak about the communication within a team or between several teams. This question is particularly important when a project involves several teams that can operate in different countries or even continents. Each participant of the team should be informed about the goals of the project, schedules, and requirements of customers (Ndoni Elhag 2010). Furthermore, these professionals should be able know about the possible changes in the project plan or new goals that they may need to attain (Ndoni Elhag 2010). Additionally, employees, representing different departments, should know about the work of other departments. In this way, project managers can better coordinate the work of various departments of teams (Ndoni Elhag 2010). Overall, communication strategy is critical for the achieve ment of project goals. This is one of the issues that a leader should address. If he/she copes with this task, it will be easier for the team to meet timelines and attain the objectives set by customers or corporate executives. Performance measure tools One should bear in mind that project management involves the evaluation of people’s performance and the overall progress achieved by the team. The duty of a manager is to make sure that each group understands what is expected from him or her, and the individual and teamwork will be assessed. For example, many managers prefer the so-called 360-degree assessment which enables to evaluate the performance of an employee (Reiss 2012, p. 111). This performance measurement tool focuses on such criteria as quantitative results of an employee’s work, customers’ satisfaction, or initiatives taken by this individual (Reiss 2012, p. 111).Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More If a leader uses appropriate evaluation methods, the leader will be able to motivate every participant. This is why project managers should think about the ways in which the performance of workers will be assessed and how it will be compensated. Additionally, project leaders will play a critical role in team-building, since employees can work successfully only if they share some values, attitudes, or beliefs (Reiss 2012, p. 111). This is why leaders should foster cooperation among different participants involved in the project. Furthermore, these professionals should not be isolated from one another. In other words, they should know about the duties of each other (Ndoni Elhag 2010). This is why managers should focus on team-building. For example, this person should organize joint meetings during which each participant can share their views with one another. Conclusion Therefore, one can argue that project management has several aspects and each of them is important for the success of every various initiatives implemented by a team. In particular, business administrators should attach importance to such issues as key performance indicators, communication strategies, and team-building because these elements are critical for the effective work of an organization. Furthermore, these professionals should ensure that different stakeholders such clients, corporate executives, managers, and workers who should interact with each other. These opportunities are particularly important when one speak about international projects. References Binder, J 2007, Global Project Management: Managing Virtual Projects and Programmes Across Borders, Gower Publishing, Ltd, London. Chan, A Chan, A 2004. ‘Key performance indicators for measuring construction success’, Benchmarking: An International Journal, vol. 11 no. 2, pp.203 – 221. Lan, Y Untelkar, B 2006, Global Integrated Supply Chain Systems, Global Integrated Supply Chain Systems, Idea Group Inc, New York. Ndoni, D. Elhag, T 2010, ‘The integration of human relationships in capital development projects: A case study of BSF scheme, International Journal of Managing Projects in Business’, vol. 3 no. 3, pp. 479-494. Marks, T 2012, 20:20 Project Management: How to Deliver on Time, on Budget and on Spec, Kogan Page Publishers, London. Reiss, M 2012, Change Management: A Balanced and Blended Approach, BoD – Books on Demand, New York. Turner, J 2007, Gower Handbook of Project Management: Fourth Edition, Gower Publishing, Ltd, New York. 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