Project Management: Review of Academic Sources

Analysis of Academic Sources

1. What is project management?

2. What is a project?

3. What is the difference between Project, Program and Portfolio Management?

For each of the five academic sources, provide an analysis with citations in current APA format. Give an assessment of your research and provide the following:

Write a  word summary of your findings.

Include a single sentence Take Awayon what you have assessed.

Include a single sentence Criticismfor what you have evaluated.

Be sure to use academic resources and journals for your research. Be sure to use “credible” academic sources from journals and articles. blogs or any pedia references are not acceptable.

Sources must be (5) years old or less.

Be sure to find articles that are directly related to the assigned topic.

Read the abstract or summary sections of a report first to determine its appropriateness to your topic.

Review the source quickly to find those sections that are related to the topic.

Write out complete bibliographic reference for each work using the correct APA format. Points are deducted if there are errors in your APA format.

Be sure to properly cite direct quotations (including the page number) and which are your own paraphrases. Review your turnitin reports. Your turnitin reports should be  or less.

In this article Silvestri  reflects on the average of 50% project failure due to corporation’s lack of response to risks and challenges associated with project execution. Based on the study by the Standish groups three critical success factors were found to be related for project management: Executive sponsorship, emotional maturity and user involvement. Based on a report from the Project Management Institute (PMI), the article found the cause of project failure would require a revolutionary change in the way organizations need to view project management using a business strategy as a means of achieving and maintaining market competitive advantages.

Silvestri listed several early warning signs of project failure which attributed to the project management maturity level of leadership which included the following:

Unhappy project team

Lack of executive sponsorship

Dissatisfied or disengaged stakeholders

Lack of collaboration

Lack of communication

Disorganized meetings

The article further discusses challenges associated with project management as inability to identify risks, ineffective requirements, failure to standardize the impact of project changes, communications, and unsuccessful attempts to govern project management methodologies and processes which leads to futile efforts to improve their processes. When it comes to global companies, Silvestri (2019) suggest a disconnect within executive leadership, providing some supporting statistics related to performance.

The new approach to portfolio project management includes a view of new methodologies associated with technological insight, collaboration, skilled and diverse project managers, efficiency in project execution and control through accountability and project metrics. There is significant value added to those who invest in collaboration and training for effective portfolio project management.

The key takeaway for me is that organizations are faced with the need to change their project management processes and implement a new way of thinking in order to be competitive.  My critical perspective is that I can see how this information can be true to some organizations, however many larger and global organizations have implemented Project Management Offices (PMOs) to address these project related issues. Further research would be required to further analyze these factors.