Key issues for success of a project

Each project is unique, specific and demanding for the company and the stakeholders, since it is a complex process with its beginning and its end. The project comprises a number of methodologies and processes, project teams and as such cannot be systematised. There are many possibilities for the mistakes and a failure of the project, if project manager does not detect the signs in time and does not carry out the necessary measures. Successfully completed project represents for the majority a project, which was completed within the time schedule and planned costs. But the success of the project is more than that. In addition to the time and cost schedule, it is important, to assure the quality and achieve desired result.

In companies often arise many good ideas and suggestions for the improvements. The initiatives can develop into a number of projects, which can soon lead to work overload of the employees, tied to project tasks in addition to their everyday work.

Without a clear business strategy, goals, objectives and priorities, numerous projects cause dissatisfaction and often a project failure.

One of the most important starting points of the project is a thorough feasibility study which reveals the current situation of the project’s subject. Depending on the feasibility study, further activities related to starting the project are taken.

Hereby we need to emphasize the importance of the major processes that are a part of every project, such as planning, monitoring, communication, analysing, coordination and administration. It is of a high importance, to have a professional approach and have an overview of the processes running in an ongoing project.

The management together with human resource manager and project manager need to select project team members. Key factor of a success is good project team and careful selection. It is important to have a system that enables an overview of the team member’s workload in order to plan and appoint the resources reasonably.

Time and cost schedules need a constant update in order to give accurate information to the management and stakeholders about the status of the project. It is project manager’s responsibility to assure the administrative accuracy of the schedules and the ability to give updated information.

A number of risk factors both inside and outside the company can influence the project. The management and the project manager have to observe and recognize the risks in time and take all the necessary measures in time in order to avoid the problems and threats to a project.

Effective coordination and communication throughout the project are very important. The project manager has to ensure updated reporting system and centralize the project documentation, accessible for the management, project team members and other stakeholders. The right information has to be available and reach the right team member in time.

Organization has to have an understanding for an ongoing project and it has to support the project members as well as their activities. The project is an effort to improve the business results from which whole organization at the end benefit.