research paper

It is necessary for the success of any project to integrate the concepts of project management and the delivery of value with the project's performance. The value delivery system examines the integrated systems companies employ to deliver value to their stakeholders. It does not matter if an entity is a federal agency, an educational establishment, a business, or a regulatory body; it exists to deliver value and advantages to the various stakeholders it interacts with. If a company or organization stops producing something of value, that company or organization will soon cease to exist. Consequently, it stands to reason that initiatives are started to deliver value to the company and the stakeholders the organization serves.

Regarding stakeholders, some projects cater to those on the outside, while others focus on those on the inside (Nathan, 2018). The execution and delivery of a project are guaranteed to be successful when value delivery is combined with project performance. Managing project performance is the process of developing, putting into action, and managing projects in such a way that they contribute to the overall performance of a business and its strategy (Nathan, 2018). The management of project performance is concerned with the wider picture rather than the specifics of task execution.

However, for these two components to operate together successfully for any project, there must first be a foundation of sound project management concepts. There are many moving pieces; thus, the most difficult issue of project management is to complete all of your activities and goals within the scope, time, and financial constraints you have planned. This can be a difficult process. It is sometimes far simpler to say something than it is to accomplish it, but some fundamental rules guide the process of planning a project to ensure that it will be successful. Currently, the Project Management Book of Knowledge (PMBOK) does not provide an actual list of the principles that should be followed to have successful projects.

Nevertheless, the PMI's annual pulse poll sheds light on the guiding principles that successful project managers and businesses are implementing (Nathan, 2018). These ideas include “formal project management structure, invested and engaged project sponsor, clear and objective goals and outcomes amongst many others (Nathan, 2018)." The amalgamation of project management principles, project performance, and value delivery will ensure the effective and efficient execution of any project, guaranteeing the project's success because every aspect of project management will be considered and handled efficiently.

This topic is important to me because I believe that project management is a potent business tool that can bring many benefits to firms of all sizes. It provides managers of any size with a set of repeatable processes, rules, and techniques that can assist in managing the individuals and tasks associated with projects. It can improve the likelihood of success and assist deliver projects in a consistent manner that are efficient, on schedule, and within budget. The primary benefit of project management is that it assists in efficiently managing projects, making it possible for project managers to resolve issues in time. For project management to be successful, I need to grasp the tenets or principles of project management and further understand how these crucial principles can work together with project performance and value delivery or guarantee a successful project. How these pieces fit together in any project needs to be examined and understood properly by any project manager. The effects of integrating these pieces and how they affect the overall delivery of a project need to be understood, as it will inform any future advancement and research within the field of project management, especially in relation to performance and delivery.

One of the major issues I expect from researching this topic includes understating whether there exists a correlation and causation between these three principle elements. How do they affect each other, and how do they influence other factors within project management? Just what is the extent of the relationship between these principles or variables, and what nature of the relationship exists between these three variables? Amongst the many issues, I expect to see a positive relationship between project performance and value delivery when project management principles are integrated. I will be keen on the extent to which project management principles affect project performance and value delivery when interpreting results from the study. I expect to see those project management principles guarantee efficiency and effectiveness in value delivery and project performance. Any lag that exists when the project management principles are not implemented successfully is expected to affect the overall project negatively.

Reference

Nathan, R. P. (2018, July 14). PMBOK Guide and PMP Exam Prep Book 2018-2019: Study Guide on the Project Management Body of Knowledge with Practice Test Questions for the Project Management Professional Exam by Robert P. Nathan. Peter Nathan.