ASSIGNMENT-1 

 
 
COURSE 
218.730 
CONSTRUCTION PROJECT
MANAGEMENT,2019 
 
BY 
Suresh Govindaraj
STUDENT ID:19026136 
 
 
TEACHING TEAM 
JUWITA/ NASEEM 
PORTFOLIO MANAGEMENT
It is defined as the management of a cluster of programs, projects, portfolios and operations to
meet the strategic goals of an organization. In other words, portfolio management involves
implementation of the company’s interest based on the evolving business needs and trend, by
reviewing and identifying the potential changes on the programs, projects and portfolios under it.

A portfolio is formed by grouping the components (programs, projects and portfolio) that deals
with a certain aspect of the objectives formed by the organization. Let us consider an anonyms
Information Technology firm. It’s likely to have the portfolio’s named after the major client groups
supported by an operations team and it flows down the hierarchy as programs and projects.

Few prime concerns of the portfolio management are statistical risk analysis, monitoring,
political assertiveness, cash-flow and company’s satisfaction. These concerns are usually
iterative and inter-dependent. Overall it facilitates the growing needs of an organization to be in
sustainable environment.

FUNCTIONS AND CORRESPONDING FEATURES OF PORTFOLIO

MANAGEMENT

A portfolio is successful when the functions of the portfolio management aligns with company’s
interests. Therefore, Alignment to the strategic goal is considered as the prime function and the
rest are portrayed as the secondary functions, as follows:

 Selection of Projects

It is one of the most vital functions of portfolio and is highly responsible for the success of an
organization. It involves meticulous preliminary data analysis to get the oversight of the
project scope and success. To select a successful project, one must analyze the viability of
the project and make sure it is inline within the organizational goals. A wrongly chosen
project is usually the one which is found beyond the boundaries of the company’s interest or
the one with devoid of support and resources. To overcome the flaws in the selection
process, an organization must perform a series of experiments to test the compliance of the
project with the existing projects and portfolios. However, there are no designated
methodology for choosing the right project; ”Most of these techniques are not specifically
used because they are too complex, offer an insufficient methods for the treatment of risk
and uncertainty, they also fail to recognize interrelationships and the interconnected criteria,
they may be too complex to understand and also use, or they could not be used in the form
of an organized development “(Dr.B Koteswara Rao Naik, 2018). Thus, it is suggested to
have a thorough research on the available inputs and potential outputs before selecting a
project to fin in the portfolio.

 Implementation

Implementation is the most challenging aspect of portfolio management and is as equally

responsible as the selection process of the portfolio for the success of an organization. It
requires a high-level plan and check mechanism to deliver the right pathway for the
transferring the ideas into a working model. The executives of the portfolio must be spread
across various levels of a portfolio to guide the sub-ordinates in implementing the objectives
of the portfolio. Looking further on the characteristics of a good implementation, firstly, the
works must be ranked based on the priorities framed and allocate the necessary resources
anticipating the future barriers that every project may experience. Secondly, transferring the
right information with at most clarity and making sure the works are carried out accordingly.
And finally, one must be able to interpret from the valuable feedbacks from the reviews and
reports and make necessary changes.

 Resource Allocation and Utilization

In an organization, the allocation and the utilization of resources are the key part in bringing
out the desired output. It is observed that most of the organizations turns out to be
successful following a methodical approach to demonstrate the coexistence of people,
capital and tools of trade(Shenhar, 2001). However, some organizations are challenged
with the cross-functional project where the conflict rises when the resources are shared
between two significant projects. Moreover, in a cross-organizational project, where two or
more enterprises combine for a single project, it becomes competitive to use the finest
individual resources for the benefit of all. Therefore, it is understood that resource allocation
should be treated intellectually considering the priority and benefits of a project and based
on which the proper utilization is oriented.
 Return on Investment

ROI (Return on Investment) measures the gain or loss generated on an investment relative

to the amount of money invested. ROI is usually expressed as a percentage and is typically
used for personal financial decisions, to compare a company's profitability or to compare the
efficiency of different investments. This function determines the sustainability of the
establishment. The outcomes of a portfolio are directly proportional to the characteristics of
the ROI. Some of the best features of good ROI are strong governance, comprehensive
stakeholder relationship and management, detailed and long-term analysis and greater
degree of transparency. However, some companies fail to manage a good ROI despite
having the above-mentioned qualities. This is due to external factors or changes made to
the original plan, which is usually not anticipated by the people responsible for the high-level
planning. It is suggested that a meticulous risk analysis process should be co-related to
investment plan to have a higher rate of ROI.

 Risk Management

Risk management in this context, this function shall be called as ENTERPRISE RISK
MANAGEMENT. It is defined as the process of identifying, interpreting and amending the
potential risks associated with a project or portfolio. The potential risks faced by an
organization are market risk, business risk, sovereign risk, liquidity risk, interest rate risk,
inflation risk and duration risk("investing answers,"). These risks must be individually
identified in every project on a detailed timeline with foresightedness based on historical
data. The efficient interpretation involves comparison of the identified risk factors of the new
venture with existing ventures. Additionally, the managers must make sure that these
interpretations comply with the capacity and the tolerance of their organization; if not, then
they must rectify the strategies so that it suits best to the company’s tolerance level.
PROGRAM MANAGEMENT
Program management is famously knowing as the bridge between the portfolio and project.
Until early 20th century program management was not identified as conceptualized theory
incorporating body of knowledge, methodologies and practices, as a result the PMI finally
decided to publish the standard for Program Management on June,2006. Ever since, the
standards had been a great support to the program managers and that made PMI to publish
newer editions adapting to the current trends in Program Management.

The PMI defines Program Management as “A program is a group of related projects managed in
a coordinated manner to obtain benefits not available from managing them individually. Program
management is the application of knowledge, skills, tools and techniques to meet program
requirements. Organizations with mature program management are far more successful than
those without it, according to our research.”[CITATION PMI \y \l 1033 ]

Functions of program management

Based on the understanding that program, which is nothing but a group of projects that has to
be coordinated effectively to ensure program success. let’s investigate the functions that
enables a sustainable program management.

 Program Governance
This function represents the control of a program manager over the projects. A program
manager must have strong command over the process and must incinerate all the
issues that’s preventing the successful operations of the projects under the program and
ensure that the portfolio isn’t disturbed.

 Planning and Monitoring

A program manager must plan the chronological order in which the program must work
along with arranging the respective resources and funds to be more specific and make
sure there is no overlapping. Monitoring comes into play when the projects are on
 process. It helps the program manager to understand the plan success and make
necessary changes to the plan.

 Fund Management
Financial management has got it touch on every level of an organisation. While the
portfolio managers allocate the required fun for the program, the program managers
must sub-allocate to the projects under the program. It is essential that a program
manager operates a fluent cash flow considering the significance of the projects.

 Risk management
Just like financial management, risk management also exists in every level of an
organisation and so does exist on program management level. As discussed in risk
section of portfolio management, potential risks must be anticipated right in the
beginning, and a separate account should be created for the same. Even though, the
risks at the level of program management is unique, and the mitigation of these risks will
result ease for the portfolio risks. Patanakul, P suggests that, a separate team must be
created to identify, asses, handle, monitor and bring a closure to the risks at the program
level. It is very essential to know the quantitative impact of risks after identifying it. It
should be prioritized, descending the worth of the risk. Control checks on these risks
play an equal part which is nothing but monitoring the risks. An online risk database of
the should be adapted in the system of all organisations to ensure that members of all
the level of an organisation updates on the corresponding risks and keep monitoring
easy and simple.[ CITATION Pat08 \l 1033 ]

 Resource management
This is an essential strategy instead of just being an important function to see the
success of the program. In the program level, there are usually several projects in
progress at various stages. So, a clash for the usage of resources shall arise. A brilliant
program manager will plan and manage accordingly so that the clash is prevented, and
all the projects are in progress with proper flow of resources.

 Managing the interdependencies

 This situation arises when a project is dependent on other project(s) of the program. The
projects are usually linked in way the end-product of one project will act as a main input
to the other project. Therefore, it is essential that of a program manager must keep track
on the dependent activities and ensure smooth flow of dependent activities.

 Stakeholder management
A program, over its course shall have so many stakeholders from various projects, who
must be served with adequate information on their concerns. A well-defined
communication bridge in network of stakeholders regarding project status, develops the
organizational relationship. It is significant to keep the network flexible to promote a good
management of stakeholders.

These functions (explained above) are the ideal responsibilities of a program manager to run
the program successfully. In addition, the manager is expected to be good with multi-tasking,
and proper maintenance of documents for effective results.
PROJECT MANAGEMENT

According to PMI, a project is a temporary endeavor undertaken to create a unique product,

service or result and managing a project with the application of knowledge, skills, tools and
techniques is known as project management.[CITATION Wha \y \l 1033 ]

A project manager takes the sole credit for the success of a project and likewise the
responsibility for a failure too. The project management inscribes various components of a
project to work towards the goal. The major processes of project are planning the scope of the
project, scheduling the events, being resourceful, implementing works according the scope and
closure.

A project manager should engage and involve limitless knowledge, Ideas, techniques and tasks
right from the initial point till the closure. It is extremely difficult to confine the features and
functions of a project manager. After understanding the responsibilities of a project manager, it
is easy to believe what Dr. NAN Ameer Ali told in one his lectures that “project managers are
next to the almighty” in a comical context. Being under the necessity to discuss the functions of
project management, the limelight functions to witness a smooth flow of project progress to
produce efficient deliverables are discussed in the following section.

 Integration
It means obtaining the work from various members of a project to achieve the client’s
goal.

 Scope
It is a part of the project planning to identify the strategic goal of the project and the how
the project will be executed. It also defines the projects risks, cost and critical path of the
project.

 Time
It is very essential to frame the schedule of the activities in a project. As time is directly
proportional to the cost and quality of the project.

 Cost
A proper pre-cost plan and a detailed estimate of all the components of the project must
be obtained. Necessary changes must be adapted based on the client’s interest.

 Quality
At the end of the day, every customer wants to use a product that’s build with a
reasonable quality. This quality of the product must always fall under the scope of the
project just like the cost and time.

 Procurement
Procurement defines the pathway to produce the deliverables in a sustainable manner. It
involves the purchase of goods from the vendors in a project life cycle. It is split in four
different process, such as, the planning process, the selection process, the
administration process and the closing process.[CITATION Bes \n \y \l 1033 ]

 Stakeholder management
It is one of the most important function of a project manager. When the stakeholder
network is properly balanced, the project automatically excels in progress. The influence
of stakeholders should be respected and encouraged for the project success. This is
established by proper communication to the stakeholders. The nature of stakeholder in a
 project might vary to both extremes. A project manager must identify the sphere of
influence of every stakeholder for successful management.

 Communication
It is the most important function of a project manager as mostly the project manager
tends to be the initiator of communication, either personally or in the electronic format.
The manager must be clear, concise, and cover every possible information regarding the
subject. It is also essential that keeps all the significant people on the loop and
appreciates feedbacks.

 Risk management
Uncertainty is a constant that every project manager must face over the course of a
project. Thus, an effective methodology to identify or anticipate the risks followed by
proper evaluation should be applied. The occurrence of such situation turns out to be
less stressful and easily handled.

These functions must be executed concurrently to taste the fruitfulness of a project and that will
help the program or portfolio above it to achieve the strategic business goals resulting in overall
business development.

Portfolio

Program A Program B Portfolio A

Program B1 Program C

Project Project Project Project Project Project Project Project

Operations
1 2 3 4 5 6 7 8

Organization chart and the hierarchy of portfolio, program, and projects.[CITATION

PMI \y \l 1033 ]

Description Portfolio Program Project

Definition It is the collection of It is the collection of It is a temporary

projects, programs, projects, managed in endeavor to produce
portfolio set up to a collaborative a unique result
achieve the strategic manner to attain
goals of the organizational goals.
 organization
Scope It is at par with The scope of a A project has clearly
organizational program is the scope identified scope as the
strategy of the projects under objectives are well
the program defined
Change Changes in portfolio is Programs generally Project’s lifecycle is
continuous as the accept the changes expected to see a lot
business environment and implement them of changes and are
is dynamic on the projects to implied effectively.
increase the
organizational
benefits
Planning Process planning Its very complex as Project planning is an
facilitating the there is an element of elaborative report of
aggregates. interdependencies. series of activities in
Communication of Program managers the project.
plans. use high level
planning techniques
to overcome
overlapping of
resources.
Management Portfolio manages the Program managers They manage the
communication in the manage the network of the project
portfolio. It also interdependencies in to attain the specific
reviews the aggregate a program to obtain goal
progress and the program benefits
introduces changes in
the system.
Monitoring They monitor the They monitor the They monitor the
allocation of individual components events and activities
resources, progress of under them to make of the project to make
programs and sure they contribute sure the end result is
projects, strategic as per the plan for the produced as per the
changes and check program goals scope
for the associated
risks
 Success Success is Program’s success is A project success is
determined by the when it solves its measured from the
return on investment intended purpose, i.e., quality of the end
the success depends product, compliance
upon the success of of time and cost and
the projects under it customer satisfaction.
[CITATION PMI \y \l 1033 ]

References
Agnew, T. (n.d.). brightscope. Retrieved from https://www.brightscope.com/financial-
planning/advice/article/9799/Types-Of-Portfolio-Risks/

Best value schools: what is project procurement management . (n.d.). Retrieved from Best value schools:
https://www.bestvalueschools.com/faq/what-is-project-procurement-management/

Dr.B Koteswara Rao Naik, M. K. (2018). Project Portfolio Management in Indian Auto component
Industry: An exploratory Analysis. IEEE Technology and Engineering Management Conference, 1-
7.

Ginger Levin, J. L. (2011). Program Management Complexity. In J. L. Ginger Levin, Program Management
Complexity (p. 222). New York: Auerbach Publications.

investing answers. (n.d.). Retrieved from https://investinganswers.com/financial-dictionary/technical-

analysis/return-investment-roi-1100

Patanakul, P. (2008). Program risk management: how it is done in major defense programs. . PMI® . PMI.
PMI. (n.d.). Retrieved from Project management institute : https://www.pmi.org/learning/featured-
topics/program

PMI: what is project management? (n.d.). Retrieved from PMI: https://www.pmi.org/about/learn-about-

pmi/what-is-project-management

Shenhar, A. D. (2001). Project success: a multidimensional strategic concept. Long Range Planning 34
(6), 699– 725.

shutterstock. (n.d.). Retrieved from https://www.shutterstock.com/image-illustration/project-

management-concept-word-tag-cloud-91689449

INTRODUCTION
A project is defined as the temporary endeavor to produce a unique product or result. It
involves various subsets in the form of planning, scheduling, estimating, implementation and
closure. [CITATION Placeholder1 \y \l 5129 ] These areas are covered by tactical application of
knowledge, skills and resources by the members of a project and cordially guided by the project
manager to achieve a successful result.

As we speak about the success of a project, it is essential to explain the criterial of a project
success, how it is measured and who determines if the project is successful.
The definition of project success has been evolving over the years. In the mid-19th century, on
the initial days of project management, the success criteria were measured in terms of technical
performance. On a little later stage around the 1970’s it narrowed down to achieving technical
results with good quality, and completion of project within the planned time and budget. The
quality, time and cost triangle, referred as triple constraint triangle or the iron triangle impacted a
worldwide response in context to the project success criteria. Further the criteria were expanded
in the 1980’s to involve the customer’s feedback as the project managers realized that, the
customers being the main stakeholder of a project, their valuable feedbacks are significant. The
evolution of success criteria prolonged till the mid 1990’s to have include the organizational and
cultural impact [CITATION Pro \y \l 5129 ]

Historical Success Definitions [CITATION Pro \y \l 5129 ]

Aspects of project planning over the years:

As planning is considered to be the most significant function of project management, this

section is to discuss the aspects of planning over the history of project success.

o Technical Performance stage

Back in the 1960’s the world just recovered from the impacts of the World War 2.
During this time, the technological advancement was at its budding stage and so
the project management. The goals set up by the organisations were oriented
more towards the technical performance of the project, while the project
management institutions were trying to define the system. Project cost and time
required to develop was compromised facilitating the need for the advancement
in technical aspects. The importance of planning during this age was dedicated
completely to produce a technically viable product for its sustainable use in the
future. [ CITATION Ker00 \l 1033 ]
o The triple constraint triangle stage
In this stage, as the name suggests, the constrains stood as the challenges for
the project manager. So, they planned accordingly to incorporate cost and time
factors which was originally just quality. The projects started working efficiently
and the usage of project management system flourished. In addition, the use of
work breakdown structure, first introduced by PERT, U.S. Navy on 1957, was
adopted all around the world during this stage. [CITATION Wor \y \l 1033 ] It
follows the 100% rule and includes a detailed planning of activities.

o Customer Satisfaction Accounts

The planning in this phase is almost similar to the 70’s where the members of
determining the expanded. It included valuable feedback from the customer to
determine the success of a project.

o The modern day circumstances

In the late 90’s, the first edition of PMBOK was published by PMI.

In the early 20th century, the practical usage of project management was
standardized, and the system of project handling was highly articulated and most
importantly it was made available globally as the members of PMI grew rapidly.
[CITATION ProjectManagementInstitutewiki \y \l 1033 ]
The development in system of project management resulted in inclusion of 21
processes over 9 knowledge areas in the planning rubric out of 39 processes
(refer table)

The 100% rule states that the WBS includes 100% of the work defined by
the project scope and captures all deliverables – internal, external, interim
– in terms of the work to be completed, including project management.
(Work breakdown structure.)
 Integration Project plan development
Scope Scope planning
Scope definition
Time Activity definition
Activity sequencing
Activity duration estimating
Schedule development
Cost Resource planning
Cost estimating
Cost budgeting
Quality Quality planning
Human Resources Organizational planning
Staff acquisition
communications Communications planning
Risk Risk management planning
Risk identification
Qualitative risk analysis
Quantitative risk analysis
Risk response planning
[ CITATION Ofe02 \l 1033 ]
Project plan
Project deliverables
Work breakdown structure
Project activities
PERT or Gantt chart
Activity duration estimates
Activity start and dates
Activity required resources
Resource cost
Time-phased budget
Quality management plan
Role and responsibility
assignments
Project staff assignments
Communications
management plan
Risk management plan
Risk list
Project overall risk ranking
Prioritized list of quantified
risks
Risk response plan

To conclude this section, we may arrive to two ideas. First, planning aspects have been growing
extensively just like how the members and volunteers of PMI grew all these years. Second idea
is rather an answer to a question, despite of having majority of processes in the planning
phase, does standalone help in project success? No, it doesn’t. Planning is merely
understanding the concepts of a project and creating ways anticipating through the most
feasible execution of the concept.

There are other equally important phases of a project

 The execution phases
 Monitoring and controlling phase
Execution stage is up next to the planning of a project. To understand the importance of
execution stage in project success, this section discusses about the aspects of execution stage,
the challenges faced in this stage and its close association with project success.

Project Qualtity Project Resource

Project Management Management
Stakeholder Manage Quality Acquire Resources
Management
manage
Develop Team
engagements
Project
Integration Manage Team
Management
Direct and manage
project work

Manage project
Project knowledge Project
Procurement Communications
Management Management
Project Risk Manage
Conduct
Procurements Management Communications
Implement Risk
Responses

[ CITATION Agu08 \l 1033 ]

The above illustration represents the process groups of the execution stage in the respective
knowledge areas. These processes are carried out to perform the activities in a way that it
aligns with the planning process. It involves management and usage of resources,
communicating to the stakeholders, and integrating the people to do the planned work. This
phase is mere application of its predecessor. It is very much appreciated to conduct the
execution according to the plan but in most of the cases it is very unlikely. As the projects are
defined as a sequence of dependent and independent activities, the dependent activities usually
get delayed due to the activity that it depends on. The potential reasons for delay could be error
in the resource management process or communication process that led to poor quality or
whatsoever. The project manager a.k.a. functional manager in the execution team, is expected
to pay attention to details, communicate effectively, make proper usage of resources and
integrate his team and guide them with the project knowledge every now and then. However,
there might be an element of uncertainty that triggers every now and then. Consider a
construction project for example: it is a small-scale project and the total workers are 4 people
and out of which one assists. According to the plan, two coats of roof painting for 3 houses must
be done in 3 days and the fourth day is predicted to be a rainy day. The first day was dedicated
for cleaning and scrapping out the old paint and went according to the plan. 3 painters
individually painted the three houses on the first day with assistant helping their ground needs.
On the day of second coating, one of the painters couldn’t make it due to unforeseen reasons,
he had gone ill. As the last-minute search for a painter didn’t work, the rest of them came up
three ideas,

1. Make the assistant paint the third house by renting a new machine and employ a new
assistant.
2. Paint two houses today and come back tomorrow if it doesn’t rain or on their next free
slot which is after 3 days and pain the left-out roof.
3. Paint two roofs individually and finish the third roof collaboratively with the current team
of two painters, with two machines and one assistant.

In the above cases, the factors that are affected in this project are quality, cost, time and
obviously if there are any changes in these factors, it leads to client dissatisfaction. The reason
for this scenario is absolutely unforeseen and also it stresses out a point against the statement
“All the project manager has to do is to prepare a solid project plan and follow this plan all the
way to success…” [ CITATION Dvi03 \l 1033 ]. The point is, despite of having a close fit to purpose
plan, uncertainty exists on a daily basis throughout the execution phase and it is highly
unexpected to identify and calculate a catchment area for these pullbacks. Project managers
with years of experience may have the knowledge to tackle such situations but unfortunately it
doesn’t work all the times because each and every project is unique and so the solution to the
day to day problems.

This gap in the process of achieving the goal or the end-result is taken care by a separate group
called the monitoring and control.

Monitoring and controlling process group involves processes that track, reviews, orchestrate
the progress and performance of a project, identifies required changes to the initial plan and
successfully apply the changes. [ CITATION Agu08 \l 1033 ]. Monitoring of a project can be broken
down to accumulation of project performance records, reviewing it and producing performance
recommendations. Controlling, as the word suggests, controls the aspects of the project by
comparing it to the original plan. The aspects being time, cost, quality, resources, etc. It
participates in analyzing the variations in project and measures the amount the variation and
eventually forms a trend to develop the knowledge of project variations. These activities by the
Monitoring and Control process group will be scheduled on regular intervals unless or until there
is a condition that enforces to analyses the project performance or variation data.

The secondary functions of this group are to recommend the appropriate changes to the system
and sharing the forecast experience with their peers about the project. Additionally, if an activity
has to be introduced to the project on the later stages, it has to monitored as well. Finally, when
a change has been approved by the process group, it is their duty to make sure all the members
of the project are aware of the change and are equipped with enough of knowledge about it.

Project
Project Scope schedule
Management Management

Project
Project Cost
Stakeholder
Management Management

Project
Integrationn
Management

Project Project
Quality Resource
Management Management

Project Project
Project Risk communicatio
Procurement Management ns
Management Management

Knowledge areas of Monitoring and Controlling process group [ CITATION Agu08 \l 1033 ]
The scope of a project is defined in the planning phase but in almost all the projects, the scope
has to be modified due to uncertainties over the lifecycle of the project or if the client wants to
make changes to the scope. The necessary input documents are processed to produce outputs
such as work performance information, change requests, plan updates and existing documents
update.

The Schedule, which is also defined on the planning stage has to monitored at regular intervals
because it is most likely for a project to get delayed, especially construction projects. Therefore,
the monitoring and control system should establish a confined space for the schedule of
activities incorporating the changes in the initial plan.

The cost, a major concern of all the project clients, has to be treated with utmost care to keep it
according to the plan. The New Zealand construction companies competes to take up a project
for the lowest margin of profit therefore in such and economy, the organization cannot afford to
lose control over the cost. Well, this is the case of large-scale construction and may not apply as
effectively to a small-scale contractor.

The quality, the most criteria to define success of a project often does not come out according
to the plan. Again, in a construction project, the expected results may not arrive due to poor
workmanship or material quality or the curing time whatsoever. In this situation, it is essential to
monitor and control the quality of the buildings on a regular basis to avoid wastage of money
and time, reconstructing the poor-quality structure by realizing it on the final stage of the project.

These four aspects have to be considered, monitored and controlled on every milestone of a
project as its very likely for these aspects to go out of plan. Therefore, monitoring and controlling
phase is equally important to planning phase considering the uncertainties and changes in the
project over the lifecycle period.
Conclusion.
The observations obtained on this task acknowledged the insights of project planning, the
process involved in planning and the success criteria of the projects. It also extended to learn
the processes of execution stage and monitoring and controlling stage. Based on my
understanding, the following conclusions are drawn:
 Project planning stage is still the most important stage of the project, but a solid project
plan standalone cannot make the project successful.
 As the project knowledge grows among the team members over the lifecycle of project in
the execution stage, necessary strategies have to adopted to see better results.
 The real-time situations faced on the execution stage cannot be planned, therefore,
instant accommodation of these real-time situations has to done for having a smooth
access to the success party.
 It is universally accepted fact that every project is unique, and uncertainty is one of a
closest association to a project, therefore, it is equally important to monitor and control
the aspects of project and make necessary strategic changes to complete a project
successfully.
References
A guide to the project management body of knowledge (PMBOK® Guide). 6th ed. (20). In A
guide to the project management body of knowledge (p. 594). Newtown Square, Pa:
Project Management Institute, Inc.

*Dvir, D. R. (2003). An empirical analysis of the relationship between project. International

Journal of Project Management, 21, .89-95.

Kerzner, H. (2000). Project Management: A Systems Approach to Planning, Scheduling, and

Controlling. In H. Kerzner, Project Management: A Systems Approach to Planning,
Scheduling, and Controlling. New York: John Wiley & Sons.

Ofer Zwikael, S. G. (September 2002). The Impact of the Project Manager. Project
Management Journal, 58-64.

PMI : what is project management? (n.d.). Retrieved from PMI: https://www.pmi.org/about/learn-

about-pmi/what-is-project-management
Project Management Institute : wiki . (n.d.). Retrieved from wikipedia:
https://en.wikipedia.org/wiki/Project_Management_Institute

Project success--what are the criteria and whose opinion counts? (n.d.). Retrieved from
https://www.pmi.org: https://www.pmi.org/learning/library/project-success-criteria-
opinion-counts-1010

Work breakdown structure : Wiki. (n.d.). Retrieved from Wikipedia:

https://en.wikipedia.org/wiki/Work_breakdown_structure#History