Paper Details

Project Management is a mandatory tool that helps organizations to overcome challenges posed by currentbusinesses environment. The characteristics of project management structures and processes provide greater flexibility fororganizations to respond to changes faster. Today, almost every organization undertakes projects in order to adapt torapid changes in the environment and support existing processes. Unfortunately project failure rate has come to anunacceptable level in most of the industries and sectors that use project management. One main cause of failure is lack ofgood project management practices. Importance of applying good project management is not clearly understood by themanagement. Organizations do not have an understanding as to how project management framework be integrated withthe existing business architecture. Organizations should first understand the drivers of project management and itsimportance to an organization. Then, a suitable project management framework should be created considering the natureand characteristic of the business activities. In order to assure step by step approach to project management, aappropriate methodology should be deployed. A methodology consists of a project management lifecycle and standardproject management processes. Processes are applied to manager lifecycle phases. Well defined Project successevaluation criteria helps organization to evaluate project results in a rational manner and continuously improve theprocesses and the methodology.

Duimnda Weeraratne, Prof. Dr. Md Gapar Md Johar, Prof. Dr. Ali Khatibi, Dr. S. M. Ferdous Azam, “PROJECT MANAGEMENT – AN ESSENTIAL TOOL FOR ORGANIZATIONAL SUCCESS”, International Journal of Advance Engineering and Research Development (IJAERD), Vol. 6, Issue 1, pp. 107-118, January 2019.