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Three Examples of Projects

1.aAnalysis of Performance of the Selected Projects


1. Nominate three (3) example projects for discussion.


Nominate an organisation of your choice, and the engineering discipline or disciplines in which it is operating.

Nominate three (3) suitable projects to use as examples for your discussion.

These projects should be consistent with the type of engineering disciplines in which your organisation operates. 

2.Define key characteristics of each project nominated.


For example:


Fit with current organisational strategic direction

Estimated cost

Estimated duration


Expected quality of deliverables

Current expenditure, percentage complete, quality standard achieved

Key stakeholders

Main risks

Impact on the environment and society – short term and long term

Complexity

Other factors (for example, human resource, communications, procurement)

Project integration factors

Any other significant factor impacting on the project

3. Review each of the projects nominated in the background with respect to their alignment with corporate direction and the principles of good project and program management.

Areas to consider in this review include, but are not limited to:


Project charter and plan

Business case for the project in accordance with the new strategic direction of yourorganisation

Ide ntification of project stakeholders and their role in the project

Potential to be completed within the constraints of time, cost and quality

Likelihood of the project’s scope being changed as a result of stakeholder issues and requirements

Change control requirements

Potential human resource, communications and procurement issues that may impact on delivery of the project

Potential risks in delivering the project and subsequent to delivery of the project

Sustainability of the project and its outcomes

Other matters considered important to the achievement of these objectives

3.Develop a plan to manage each of the projects to achieve project objectives.

This plan should take into account each of the issues described above, and summarise the following points:

Summary of issues for each project as determined by analysis

Fit of the project with corporate direction

Consequences of not completing the project within key performance indicators

The best approach for managing the project, with particular focus on the key issues withthe project

Whether the organisation should undertake any future projects of the type of project that isbeing reviewed

b.Report to Board of Directors


Write a report to the Board of Directors of your organisation that:


Summarises your analysis of each of the three (3) projects you have been asked to assess.


Describes your proposed solution for each project, including the feasibility of implementing it.

Discusses, from an overall program management perspective, how projects within your program can be better assessed, prior to acceptance by the organisation, for feasibility and alignment with the Board’s strategic direction for your organisation. 

2.Discuss the current and future project management challenges and opportunities for three (3) of the following current and emerging issues in project management:


1. Sustainability
2. Lean construction
3. Advanced project management information systems
4. Knowledge management.

You should include, in your discussion of each of your selected issues, your views with respect to the following:


The implications of the selected issue for current project management practice.


The implications of the selected issue for future project management practice.


How project management practice may change over the next 20 years as a result of the challenges and opportunities provided by the selected issue.


How the project manager’s role may change in the future as a result of the challenges and opportunities provided by the selected issue.

Three Examples of Projects

Project management is the management of the resources and human capital to achieve the final outcome of the project. It helps the manager to gain deeper understanding about the complex activities associated with the project. Planning, scheduling, workflows and delegation of work is decided accordingly (Ferrario, Simm and Whittle, 2014). Project manager has to ensure that there is excellent communication between the workers. It will lead to better coordination and integration which will have direct impacts on the performance of the entire project. Apart from this, risks have to be identified and mitigated (Cooper, 2016). It will help in achieving the desired deliverables in fixed duration and as per estimations. The present report is based on three projects: Project A, Project B and Project C. All of the three projects have some issues and requires attention. The report consists of analysis, planning and methods of improvement for the projects to avoid overruns and delays.       

Flour Company is an Australian based company which provides project management services and helps in construction activities (Flour Company, 2017). They are operating in various disciplines such as automation, construction, procurement, engineering, software development and process engineering. The examples of projects are given below:

  • Asahi Beverages warehouse automation project: The Company was having problems in their supply chain and operations due to manual process used by them. They have been planning to automate their warehouse which will reduce their cost and the quality of the products will be standardized (Alotaibi and Mafimisebi, 2016). The entire cost of the project in $ 500000 and it has to be completed in six months. The construction, installation of new systems and technology has increased the complexities in the project. They have to make sure that there in integration between all the activities to achieve quality deliverables at the end of the project lifecycle.  
  • Kansai Aviation project: The total cost of the project was $ 1.3 billion and the time period was 18 months. The client had problems with the design of the airport which was affecting them and it was causing inconvenience to the passengers. Flour Company helped them to design a curvilinear terminal building (Harvey and Lynch, 2017). They used software for calculations and made sure that it is complete with the stipulated time. The time schedules were very compressed but to effective planning and delegation of work they managed to complete it. They were able to resolve the issues of the client and they met all the standards of quality.                  
  • JFK International terminal: The total cost of the project was $ 1.4 billion and time period was one year. JFK International airport wanted a new terminal as the old terminal had less capacity. Flour Company demolished in old terminal and helped the company to build a three level terminal with increased capacity (Airport design management, 2017). All the activities including planning, organizing, designing, construction, procurement and coordination was done by Flour Company. The project was successful as it was able to meet all the requirements of the client such as reducing inconvenience to passengers, security and safety, flights schedules management and improvements in the public access facilities (Ferrario, Simm and Whittle, 2014).        

Fit with current organizational strategic direction: Asahi Beverages warehouse automation process in aligned with their mission to reduce cost and standardizing their operations. On the other hand, JFK International terminal and Kansai Aviation project both are focusing on reducing the inconvenience in their airport terminal (Gollenia, 2016). The projects have been initiated to improve the performance of the firms. Asahi Beverages will be able to reduce their cost and their supply chain will also improve significantly. As such, the automation is important as it will give them competitive advantage in the industry. Similarly, , JFK International terminal and Kansai Aviation will be able to effectively manage large number of people which will streamline their entire process. It will increase the satisfaction level of the customers (Harvey and Lynch, 2017).      

Estimated cost and duration:  Asahi Beverages warehouse automation project will require six months and the cost is $ 500000. Kansai Aviation project’s estimated cost is $ 1.3 billion and time period is18 months. Apart from this, JFK International terminal total cost was $ 1.4 billion and it has to be completed within one year.

Asahi Beverages

Kansai Aviation project

JFK International terminal

Standardized operation

High quality

Improvements in supply chain management

Modern technology

Automated operations

Reduction in cost

Better integration between activities and processes

No bugs or defects

Improved design and control services

High quality of standards

Constructability review method

Improved management

Reduction in traffic

Solutions from operational limitations

Three level terminal with increased capacity

Reducing inconvenience to passengers

High security and safety

Flights schedules management Improvements in the public access facilities.        

Arrivals to road, parking and auxiliary roads improved.

Current expenditure: Less than

$ 500000

Current expenditure: Less than

$ 1.3 billion.

Current expenditure: Less than

$ 1.4 billion.

Percentage completed: 100%

Percentage completed: 100%

Percentage completed: 100%

Quality standards:

No bugs in the technology

Achievement of all the deliverables

Effective user interface

Usability as per the users

Quality standards:

High performance  

Easy maintenance

Improved capabilities of the airport

Fast track construction

Quality standards:

Increased capacity

Quality of materials used

High standards of testing

Excellent integrity of systems.

Asahi Beverages: The key stakeholders in Asahi Beverages automation project are senior management, employees, managers, project manager, project sponsor, team members, construction workers, systems developers, engineers, suppliers, contractors, community, government, society and customers (Hill, Jones and Schilling, 2014).     

Kansai Aviation project: The key stakeholders in Kansai Aviation project are aviation department, employees, owners, senior executives, project manager, building designers, technical staff, experts, employees, workers, community, passengers, government and computer programmers (Kononenko, Aghaee and Lutsenko, 2016). All the activities including planning, organizing, designing, construction, procurement and coordination was done by Flour Company

JFK International terminal: The key stakeholders in JFK International terminal are project manager, sponsor, team members, contractors, engineers, workers, suppliers, passengers, employees, government, local authorities and public (Martens. and Carvalho, 2016).

Key Characteristics of Each Project

Main risks: The main risks associated with the Asahi Beverages automation project are failure of system, problems in integration, bugs in the system, time constraint, problems in construction, budget overrun risks, change in the expectation of stakeholders, major changes in the plan and lack of communication between developers and management can lead to failure of the project (McLean, Antony and Dahlgaard, 2017). Both Asahi and Kansai Aviation project has many complexities and technicalities which increase their risk. They have many integrated activities are highly interrelated to each other. The main risk in Kansai Aviation project is limited time scale, use of software for calculations, risk with constructability, non availability of required materials, operational risks and risk of not achieving all the deliverables (Kerzner, 2013). JFK International terminal also has similar risks. It includes lack of support from residents, interrelated complex activities, risk of improper planning and requirement analysis, uncertainties etc. It helps the manager to gain deeper understanding about the complex activities associated with the project. Planning, scheduling, workflows and delegation of work is decided accordingly              

Impact on environment and society

Asahi Beverages

Kansai Aviation project

JFK International terminal

Impact on environment and society

Long term

Less wastage

Fuller utilization of resources

Ensuing sustainability

High quality and standardized products

Less congestion

Sustainable development

Convenience

Environment friendly changes

Increased efficiency

Increased capacity

Better access to facilities

High social and environmental benefits

Public access

Short term

Less paperwork

Economic cost

Reduction is manual labor

Inefficient operation in starting

Inconvenience to nearby residents during construction phase.  

Limited operations

Limited operations

Demolishing will cause disturbances

Complexities

Integration between systems

Technological failures

Development of new system

Communication between different departments

Very high quality standards required

Limited time scale and calculations

Fast track construction method

Many interrelated activities involved

Interrelated subsequent events

Testing and reviewing of systems


Other factors: Asahi Beverages automation project requires highly skills and technical staff members because it involves engineering and development of new technology. Furthermore, effective communication should be present between the workers for integration and coordination between different activities (Mir and Pinnington, 2014). Similarly, Kansai Aviation project and JFK International terminal both require highly skilled and competent workers. They should have experience in the field. JFK International terminal have to make sure that their procurement of material is efficient. They will be needing construction materials and other goods. Apart from this, Kansai Aviation project should maintain good communication because it involves lot of complex activities which have to be integrated in less time period (Moniruzzaman and Hossain, 2013).     

Integration factors: Asahi Beverages automation project has many project integration factors which includes technology, construction as per the system, development of system as per the technology and integration of all these tighter to achieve the objective (Morley, 2016). Kansai Aviation project is a complex project and it requires integration between calculations, constructions, designing, major issues of the building and computer programs developed by engineers. Similarly, JFK International terminal requires good integration and coordination. The main factors are terminal building, suppliers, technology, systems, processes, construction, development of software and security requirements (Rosemann and vom Brocke, 2015).

Asahi Beverages automation: Project manager of Asahi Company has focused on project planning and charter. He has made sure that all the requirements of the client and customers have been taken into consideration while formulating plans. The charter was presented to the stakeholders so that they can understand the deliverables and quality of the project (Srivannaboon and Munkongsujarit, 2016). It had communication plan and the strategies which will be adopted by the project manager. All the stakeholders were identified and communication plan for formed according to it. Team members, sponsor and client will be given detailed description and they will be contacted every week. On the other hand, customers, community, society and government will be given less but relevant information every month (Vijayasarathy and Butler, 2016).  The requirements of the client and their strategic direction were considered at the time of planning. It allowed the manager to design the scope of the project according to it. Resource allocation and time scheduling was used to make sure that all the activities are completed within the given timescale. Sustainability and the effects on the environment were taken into consideration during this process. WBS was used to breakdown activities into smaller tasks (Ferrario, Simm and Whittle, 2014). Project scheduling and estimations were done to ensure cost and time limit of the project. Risk register was made to ensure change is scope due to stakeholders. Project sponsor took the responsibility to avoid the issue and the project charter was signed by all the stakeholders. Change in requirements of the stakeholder is not possible to during the automation project. So, the project manager took precautions in the initial stages only. Agile continuous plan was adopted to allow changes after analysis and study. Apart from this, highly experienced and skilled workforce was appointed in it (Harvey and Lynch, 2017). It included developers, engineers, construction workers, experts etc. Regular meetings and interactions were made between team members to ensure that all the employees understand their work, roles and responsibilities. WBS allowed them to get details about the subsequent task and outline of the entire project. It allowed the company to manage complexities and to archive the deliverable in the required time. The procurement issues were taken into consideration in the resource allocution stage of project management (Rosemann and vom Brocke, 2015). Risk management techniques were used to identify potential risk in the project and measures to avoid them were also developed.                

Plan to Manage Each Project

Kansai Aviation project: The management understood the problem of limited time period so they adopted fast track construction method in Kansai Aviation project. They created a plan and all the things were communicated to the stakeholder (Harvey and Lynch, 2017). Project manager took many initiatives to get in detail and take into account all the needs and issues of the stakeholders.. Project charter was a detailed one which is the requirement of the waterfall method. Stakeholder’s management involved identification of all the people associated with the project such as government, community, client, passengers etc. All the risk was identified with the help of a risk register (Ferrario, Simm and Whittle, 2014). It included risks related to miscalculation through software, overrun of budget, cost, time schedules etc. Furthermore, monitoring and review plan was made to make sure that all the deliverables were produced. It also included objectives value consideration which consists of social impacts, customer’s impact, economical impact and impact on environment. Sustainability was ensured in the entire project. It allowed the project manager to resolve the issues faced by Kansai Aviation Company (Kononenko, Aghaee and Lutsenko, 2016). The use of software and modern designing methods allowed them to avoid any delays and cost overruns (Hill, Jones and Schilling, 2014). This project is essential for the management as it will improve their management and other issues related to the decision. It will provide them with strategic direction which will help them to increase the satisfaction level of the consumers. Procurement support was also provided by the project manager to ensure timely availability of all the materials. He was involved in negotiation, support for procurement and dealing with sub contractors. They took many measures to manage and supervise international erection and delivery of materials. Multiple contractors were used to avoid any delays (Airport design management, 2017). Capabilities, management, project control and fast track program designing improved the performance as well as the outcome of the project. Manager ensured that everything is documented and recorded so that all the employees can understand the different aspects of the entire project.                        

JFK International terminal: The project had many deliverables and the project manager of JFK International terminal had to perform all the activities. It included planning, organizing, designing, construction, procurement and coordination which were done by Flour Company (Flour Company, 2017). This project was important for JFK as it will increase the capacity and they will be able to expand their business. The present capacity was not according to the needs of the passengers. There were activities which were not in the scope of the project manager. But working in close relations with other technicians and planning allowed them accomplish all the deliverables (McLean, Antony and Dahlgaard, 2017). Stakeholder management was developed to improve communication between all the stakeholders. But the company ensured that they took the needs and expectations of the passengers and all the facilities were designed keeping this into mind. Project charter was presented to all the associated people and their approval was taken. Regular reports and progress were sent to them so that they know what to expect from the project. Furthermore, approvals were taken from the local authorities and senior management. The main issue in the project was time schedules and quality of the deliverables (Rosemann and vom Brocke, 2015). The project manager divided the work into small groups and quality standards were adopted. Regular monitoring and review was done to make sure that the process does not deviate from the standards. Change management allowed them to analyze the reasons of the change and corrective measures were taken accordingly. Procurement and material management was done to ensure regular and timely supply of resources (Srivannaboon and Munkongsujarit, 2016). Multiple suppliers were appointed by the manager. Along with this, complexities were dealt in an effective way. Experienced team members were included and the manager worked in their close association to manage it. Communication plan was developed and all the team members were included in it (Alotaibi and Mafimisebi, 2016). Risk management stage in the process made sure that all the risks were identified beforehand. The inputs were taken from the team members. Action plan was also developed to avoid potential risk during the delivery.              

Report to Board of Directors

The plans adopted by the three projects to manage all the issues are as follows:

Asahi Beverages automation: Deming cycle should be used by the company to take of all the issues in the project. The main issues were integration and technological failures. Deming cycle has four steps: Plan, Do, Check and Act (Hill, Jones and Schilling, 2014). The planning stage should include all the issues which are faced by the company. At the time of implementation, they have to make sure that it is aligned to the corporate objective of the company. The key performance indicators are time, cost, deliverables, no defects and easy to use interface. Continuous improvement approach should be adopted by the project manager to allow changes in the process which improves its outcome. It will enable them to deal with the main issues which were faced by the manager in the automation process (Harvey and Lynch, 2017). Flour Company should take this project in future because they have been excellent their planning.     

Kansai Aviation project: The main issues in this project were stringent timeframe and technicalities. Waterfall method was adopted so that team members understand the subsequent tasks. It helped in communication, integration of all the activities and change management. It will ensure that all the issues are studied in detail and their outcomes are also evaluated. This method makes sure that project progresses as per the corporate direction of the organization (Martens. and Carvalho, 2016). The key performance indicators are cost, time frame, designing, construction reviews and resolution of client’s problems. Flour Company should achieve all these otherwise it will affect the outcome of the project. Waterfall method helps in the application of best approach method which will be beneficial for the entire project (Gollenia, 2016). Flour Company used fast track construction which was useful for them but they should apply waterfall method in similar projects in future.      

JFK International terminal: The main issues in the JFK International terminal project were time schedules and coordination between different activities (Vijayasarathy and Butler, 2016). Deming cycle should be used by the company as it resolve all their issues and help them to manage everything. The initial planning phase will allow them to manage to fit in with the corporate strategy of the organization. Key performance indicators are increased capacity, safety and security, estimated costs, time scales and quality of deliverables. The consequences of not achieving these are that it will result in project failure. Deming cycle is the best approach for them (Alotaibi and Mafimisebi, 2016). It will help them to introduce new methods which are useful for the project. They can review their performance with the help of checklists or monitoring. In future also Flour Company should take similar projects. They have learned from it and they can apply the learning in other projects.     

b.This chapter includes the analysis of three projects which have not been performing well as per the plan. Project A had issues with their feasibility study, Project B with their stakeholder management and Project C with their integration. Apart from this, the proposed solution has also been provided along with the measures to align it with the strategic objective of the company. It is essential for the manager to take into account all the factors which are related to the project. It includes stakeholders, feasibility studies, negotiation with suppliers etc.  

Current and Future Project Management Challenges and Opportunities

Report to Board of Directors

Project A

Project A clearly highlights the need of planning, requirements analysis and feasibility study. It has been inefficient in terms of cost, time schedules and quality standards(Ferrario, Simm and Whittle, 2014).  The project manager failed to evaluate the procurement and availability of resources. Non availability or delays can drastically affect the performance of the project (Kononenko, Aghaee and Lutsenko, 2016). This shows lack of feasibility in relation to exchange rate fluctuations, availability of resources, suppliers and competition. Their project charter was not proper and they were not sure about the deliverables of the project. They failed to understand the needs and requirements of the stakeholders.           

Project B

Project B has been progressing well in terms of cost, time and delivery (Alotaibi and Mafimisebi, 2016). There have been stakeholders and sustainability challenges in the project. The project manger failed to develop a plan or communication and stakeholder management. It has created issues which are not in the control of the company or any other senior management (McLean, Antony and Dahlgaard, 2017). They have to shift the project to other location which will increase the cost to $2 million. The initial planning stage should have evaluated the effects of stakeholders and their approval should have been taken in advance. Furthermore, sustainability and measurable organizational value should be studied.        

Project C

Project C consists of many complexities and integration is essential in it. The project manager failed to develop communication plan which has affected the planning, control and management of the organization (McLean, Antony and Dahlgaard, 2017). Complex projects require excellent coordination and communication between all the employees because of highly interdependent activities. In project B, there is no coordination between staff management and developers (Srivannaboon and Munkongsujarit, 2016). The developers who are working have no idea about the scope, design and functional changes in the project. It will lead to project failure because the implementation is not according to the plans which were made in the initial stages.      

Project A

Project A should show the inefficiency of the manager in terms of feasibility studies (Hill, Jones and Schilling, 2014). His did not carry out risk management to identify the major risks in the project. Exchange rate fluctuations, availability of resources suppliers and competition are an important part of this process. They should have studied about the suppliers and various issues related to it (McLean, Antony and Dahlgaard, 2017). They should have done contacts with multiple suppliers to eliminate this problem. Apart from this, they should have look for alternatives which would have solved their initial problems.     

Project B

Project B required feasibility study and stakeholder analysis. They were unable to understand the needs and preferences of the nearby residents. They cost of the project increased as they had no idea about this issue (Martens. and Carvalho, 2016). Project managers should carefully study all the aspects related to the project. It will be beneficial for them to identify all the stakeholders and create a communication plan. It will help them to understand the views of community members and society. Furthermore, sustainability was not considered. It is important for manager to analyze measurable organizational value and long term benefits (Alotaibi and Mafimisebi, 2016).    

Project C

Project C shows ineffective management and coordination between team members. The project manger could not develop control system which led to the delays and ineffective performance. Instead of this he could have divided the task in smaller team and created groups. (Ferrario, Simm and Whittle, 2014) He should have regular meetings with the staff members to ensure that they understand subsequent activities and other tasks which are dependent on their work. Communication plan and integration of activities should be applied in the given project. It would have improved the performance of the project. Project C  has many complexities and highly interdependent activities (Vijayasarathy and Butler, 2016).

Feasibility study allows the manager to understand the viability of the project. It includes financial, technical, social and legal analysis to find out whether the project is possible or not. The above three projects show the effectiveness of project management as there was no feasibility studies included in it (Ferrario, Simm and Whittle, 2014). It affected the performances of all the projects significantly. Project A failed to understand exchange rate fluctuations, availability of resources suppliers and competition. Project B was not able to take into account the residents who opposed the plan. Similarly, Project C was not effective due to lack of planning and integration of the people. It should have been considered for improving the performance of the project (Kononenko, Aghaee and Lutsenko, 2016).  

Conclusion

It can be concluded from the above that project management involves various activities. A project manager has to perform additional duties which may not be in his scope. He should focus on budget, time scale, quality and the deliverables. Apart from this, there are some other issues which have to be taken into account during the planning and requirements analysis. Project A, B and C highlights the in efficiency of the project manager which has affected the performance of the projects significantly. They have to do feasibility study, sustainability analysis, stakeholder management and other key performance indicators have to be taken into account.       

2.Project management is one of the most crucial and challenging aspect of business growth and development. It helps businesses in creating a significant brand identity within the economy which in-turn develop profitable results for the success of the organization. Traditional means of project management aspects has been challenged and restructured to meet the changing and developing needs of the clients. The present study will focus on analyzing such issues closely. The study will reflect opportunities and challenges associated with modern project management constraints such as sustainability, lean construction, developing IT management etc. it will help in developing an in-depth analysis on the subject and reveal a reliable outcome.

Implication on current project management practices

Sustainability is one the key aspect of business performance and success within the economy. The stated issue has created a significant impact on business growth and development. It helps in enhancing decisions making process on different levels. Project management has incorporated the stated term in order to undertake balance social, economic and environmental factors for project performance. Sustainability has reconstructed the traditional practices of project management into modern and effective practices. It has enhanced the professional requirement of the projects as well. Current era is introducing sustainability aspect in project management practices in order to develop effective impact on economic, social and environmental grounds. These factors help in expanding the project paradigm and ensuring environmental well being index as well. Development in strategic aspects of project management has been influenced through sustainability. It has integrated economy and lifestyle in natural cycles. Project management, in the current era is introducing sustainability in different practices to attain high success and development.

Changing environmental conditions is effects the performance aspects of the businesses widely. It has been analyzed that sustainability is the critical need of project management in every aspect. The demand for efficiency and profitability has increased widely. It can thus be analysed that the stated aspect will be the base of project management in the future. Every project manager will seek effective and well defined measures to create a significant impact on organizational growth and development through suitable practices. It will help in developing project scope and efficiency. However it will also demand high level of skills and knowledge in the segment. Every prospect of the project such as men, material and money will be affected by the stated measure. The cost of these projects will be high due to high specifications however they will help in attaining optimization within the market. These projects will also help in providing profitable results along with competitiveness in the market.

Sustainability will change the project management practices widely and critically in the future. It will pose significant challenges and will develop effective opportunities simultaneously. Sustainability provides effective opportunity of development for the businesses and project managers as well. Project management involves value based approaches to attain effective results within the market. It helps it developing positive perceptions and high value on the projects as well. Funding aspect is also high in the stated aspect. Sustainable projects will have higher demand and high life time which will help in ensuring effective demand for the same within the market. The stakeholder involvement in the projects will also be positive and well managed for the organizations. Sustainability help project management in attaining technical competency, behavioral competency and contextual competency which will results in generating high and valuable results for the businesses and project managers as well.

On contrary to this there are significant challenges which are associated with the stated aspect. It has been analyzed that sustainable project management practices require high skills and efficiencies as compared to that of traditional project management aspects. thus challenges associated with performance competency will be one of the major challenge in the sector. Also aspects related to organizational competencies will arise if companies are unable to enhance their capabilities and skills to deliver desired outcomes to the clients. Hence it can be stated that sustainability is one of the crucial aspect which will create significant growth in upcoming  20 years of time frame.

Roles and responsibilities of a project manager will change widely through the stated prospect. It will demand high level of competency and creativity within the market. Personal competencies by the project manager will be demanded in terms of knowledge about the material aspects of sustainability. In addition to this changes associated with relevant knowledge and thinking will also be demanded by the managers. Gaining significant knowledge in the field will help project managers in attaining significant growth and development.

Implication on current project management practices

Lean construction is an effective concept which has helped businesses in creating a well defined impact on organizational performance in this current competitive market. Lean manufacturing has strengthened the automobile industry widely. Lean production has its roots in various management principles, including Just in Time (JIT), Total Quality Management (TQM), Time-based Competition, and Benchmarking and Concurrent Engineering. The stated concept has created a well defined impact on organizational development. It has helped in creating a definite impact on project management performance within the organization to develop a wide development measure.

Lean construction aspect is a highly demanded aspect within the market. It has helped businesses in enhancing its productivity and growth within the market. Lean construction integrates lean management principles with construction process in order to attain significant development aspects. The sated measure has significant impact on future development. The stated aspect will help the construction industry in enhancing optimistic approach within the market. it will also create high and significant growth measures for the businesses. In addition to this the development of the strategic aspect of the business is high in the economy associated with the stated subject. It will create an effective developmental measures for the businesses.

The proposed measure will help in attaining significant market opportunities in the future. Due to increasing population and high infrastructural development the construction industry is growing and will grow in the future as well. However high level of competition has demanded construction projects to be unique and cost effective. Lean construction project has the significant prospect in the stated aspect. It will help companies in developing a highly influential impact on business performances by enhancing optimization in the market and developing an effective performance measure along with it. The aspect of organizational development will also be influenced by the same.

On contrary to this there will be significant challenges which the stated aspect will pose on the industry to create an insignificant impact. The major challenge associated with the concept will be that of technological demand. High and effective technology will be needed for the stated aspect (Kononenko, Aghaee and Lutsenko, 2016). In order to implement lean construction prospect in the process effective and well defined measures for the business assts and processes are also needed. This is critical challenge for the organization. Along with this the investment in terms of cost is also very high in the market which creates an indefinite impact on business performance. Thus the challenges of technology and knowledge are critical for the stated industry.

The overall evaluation of the market reflects that lean construction has high prospects of development in the future market as it will enhance the industry performance in a well defined manner.

Project managers and associated people will consist of a significant part of project management team. Effective development of the team in terms of knowledge and skills will be required in the economy. The project managers will be demanded to develop significant awareness about latest technology and processes involved in the industry. it will also demand a significant aspects of personal development measures in the industry as well.

Implication on current project management practices

IT is one of the basic need of every business and project as well. it creates a competitive edge and project efficiency within the market. in the present era IT is the secondary aspect which is increasingly being involved in the processes to enhance the efficiency and performances of the businesses. Project managers are trying to involve IT into different aspects such as inventory management, cost management etc in order to attain success. Advanced IT project however has created limited scope in the market due to high cost factors.

Advanced IT project has high and effective growth measures in the future. The developing economy and increasing competition within the market will create high demand and advanced needs for such projects in the future. Companies thus should be ready to indulge these project in the routine in order to ensure effective project competition. Developing project teams for the stated prospect will also be a critical need of the project management aspect in the future. The challenges and opportunities associated with the subject will be high and significant.

The opportunities related to IT project management aspects will be critical for the business development aspects in the future. Companies will be highly enhanced in terms of performance and capabilities within the market then. advanced IT projects will be the daily and critical need of the business unit (Kerzner, 2013). it will help the organizations in enhancing its capability and performance within the economy. it will also develop a competitive edge in the market strong with the companies which has already been operating. Tradition practices will be overtaken by these aspects thus aspect of growth will be high.

The major challenges associated with the subject will be with the team management aspects. in order to deal with advanced IT project effective focus on knowledge management is crucial. It helps businesses in enhancing its performance and competitiveness. It will also create high competition in teams of employee retention (Harvey and Lynch, 2017). In addition to this aspects related to people management will be high win the economy which will be a major challenge for the businesses and project management team as well.

Companies should be ready to indulge these project in the routine in order to ensure effective project competition. Developing project teams for the stated prospect will also be a critical need of the project management aspect in the future. The challenges and opportunities associated with the subject will be high and significant.

Conclusion

Project management is one of the most crucial and challenging aspect of business growth and development. It helps businesses in creating a significant brand identity within the economy which in-turn develop profitable results for the success of the organization. Traditional means of project management aspects has been challenged and restructured to meet the changing and developing needs of the clients. The overall study concluded that major issues in the economy have created a significant impact on business performance and project management aspects. Effective and well defined management if the same will help businesses in creating high growth and development prospects.

References

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Kononenko, I., Aghaee, A. and Lutsenko, S., 2016. Application of the project management methodology synthesis method with fuzzy input data. Eastern-European Journal of Enterprise Technologies, 2(3 (80)), pp.32-39.

Martens, M.L. and Carvalho, M.M., 2016. The challenge of introducing sustainability into project management function: multiple-case studies. Journal of Cleaner Production, 117, pp.29-40.

McLean, R.S., Antony, J. and Dahlgaard, J.J., 2017. Failure of Continuous Improvement initiatives in manufacturing environments: a systematic review of the evidence. Total Quality Management & Business Excellence, 28(3-4), pp.219-237.

Mir, F.A. and Pinnington, A.H., 2014. Exploring the value of project management: linking project management performance and project success. International Journal of Project Management, 32(2), pp.202-217.

Moniruzzaman, A.B.M. and Hossain, D.S.A., 2013. Comparative study on agile software development methodologies. arXiv preprint arXiv:1307.3356.

Morley, C., 2016. Management d'un projet système d'Information-8e éd.: Principes, techniques, mise en oeuvre et outils. Dunod

Rosemann, M. and vom Brocke, J., 2015. The six core elements of business process management. In Handbook on business process management 1 (pp. 105-122). Springer Berlin Heidelberg.

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