Can the parameters destroy project success?
Limitations of the project parameters
- Project delivery within budget is often made at the expense of longer-term business value. Decisions made by the project manager to deliver the project within budget can destroy long-term values, as in to achieve a short-term gain for potential long-term pain.
- The project parameters ignore the project’s true purpose, meaning that their only aim is to ensure the project is delivered to cost, time and is of quality. The purpose of the project investment isn’t taken into account. Projects are commissioned to deliver business results and not because they are to fit within the parameters.
- The three project parameters do not depict what the project investment is trying to achieve, which is a factor that can unify all of those involved. Consequently, different staff and stakeholders can have different expectations, leading to different levels of satisfaction with the results. This then has to be addressed through ‘expectation management’, creating an extra level of workload.
- The project parameters are seen as ‘constraints’ to be tightly controlled when they should be seen as key ‘value determinants’ to be leveraged to maximise the net value delivered.
Your taskConsidering the above limitations, can you think of any more reasons why the project parameters may contribute to project failure?Discuss with your fellow learners in the comments section.
The Importance of Project Management in the Global Construction Industry
Our purpose is to transform access to education.
We offer a diverse selection of courses from leading universities and cultural institutions from around the world. These are delivered one step at a time, and are accessible on mobile, tablet and desktop, so you can fit learning around your life.
We believe learning should be an enjoyable, social experience, so our courses offer the opportunity to discuss what you’re learning with others as you go, helping you make fresh discoveries and form new ideas.
You can unlock new opportunities with unlimited access to hundreds of online short courses for a year by subscribing to our Unlimited package. Build your knowledge with top universities and organisations.