Project management helps organizations to maintain a competitive edge and to deal more effectively with a rapidly changing world. Project management allows for efficient use of resources and gives a means to achieve technological breakthroughs and streamlined product development. With that said, many projects fail. Why is this so? If we are to prevent project failure, then we must analyze project characteristics and determine which factors lead to success.
Research the internet or library journals for project success and failure factors. Locate at least two resources, which you should use to respond to the questions presented below. Cite your source(s) in APA format.
- What 2-3 factors does your article(s) mention as key elements for project success? Elaborate why.
- What 2-3 factors does your article(s) mention that cause projects to fail? Elaborate why.
- Describe the basic elements of a project life cycle.
- Why is an understanding of the life cycle relevant for our understanding of projects?
- Based on what you read from these articles and your text, in your opinion, what is the importance of stakeholder management?
- Who are example stakeholders of a project?
- From reading the first three chapters in the text, in your opinion, how might the concepts of project management help you in your future positions/career aspirations?