Strategy Required to Improve Project Management Outcomes - Approved Case Study

Strategy Required to Improve Project Management Outcomes - Approved projects align with corporate strategy - Case Study Example It is very clear from the internal memorandum sent by the chairman to the senior project manager wherein he has shared his concern over declining number of such projects delivered in right time and budget although the project managers are capable of technical knowhow and follow principles based management practices. Let’s hope that ideas offered by all of us on how to implement latest project management principles and processes to better manage time and cost factors could help the our organization. Our objective is to provide inputs on effectively managing new projects through our individual ideas on why project success rate is falling down while keeping the principles of project management in view. The past experience in project management has not been remarkable. That’s why opinions of the team members have been sought by the chairman. Actually, the company is lagging behind the goals earmarked. It was expected by the top management that with the given expertise and technical hold, we will enter the global market very soon but overseas projects taken so far have not helped us in capturing foreign market; the gap between the goals and outcomes is widening. Our aim is to rework on current management theory to see that approved projects align with our organization’s strategy. Accountability needs to be determined so that in case a project fails, responsibility is fixed. A number of factors determine the success of a project. Sometimes, it is seen that dedicated support for the project is not provided by the senior members of the board. Without overall and individual level support by top brass of the organization, project starts staggering. When the project reaches certain stage, another urgent project comes by for getting attention of the project team as it has to be completed before the ongoing project. The role of the senior management becomes very crucial in the organization