What Makes A Project A Success Or A Failure?

1. Planning Risks: Inadequate time to plan, allocate resources and scheduling thoroughly for projects completions and budget parameters.

Describe common practices to estimate the duration of project activities as well as real reasons that cause project delays.

Event chain methodology, a new way of scheduling is an uncertainty modeling and schedule network analysis technique that is focused on identifying and managing events and event chains that affect project schedules. Event chain methodology helps to mitigate the negative impact of psychological heuristics and biases, as well as to allow for easy modeling of uncertainties in the project schedules.

Concurrent delays can be used in both the offensive as well as defensive ways. Contractor uses concurrency as a shield to defend himself against fiscal damages by the employer. On the other hand employer uses it to ward off the contractor 's pursuits for delay costs. Therefore, this topic has been going through a lot of research. United States Court of Federal Claims described the notion of concurrent delay in R.P. Wallace, Inc. v. U.S. 63 Fed. Cl. 402 (2004). ). There are many players in construction affecting the construction schedule; but, following are the three major examples of the concurrent delays:

One of the main concerns during the meeting was the impact of cost and time constraints on networking techniques and project schedules. Under the ideal situation, the project start and end dates are fixed. Adding resources is not usually feasible as it increases cost. There should be a balance between time and cost constraints as it avoids wasting of resources. Also most people are willing to accept that costs could exceed expectations, and might even take a perverse delight in recounting past examples, the same is not true for time constraints. This is probably due to the fact that cost over runs are resolved in-house, while schedule issues are open and visible to the customer. A company has a lot of useful, desirable work that could be done, but has limited and finite resources available with which to do that work. Choices have to be made about which work to do and how to allocate resources. This leads to constraints especially, the time constraint and the cost constraint. Time, in project management, is analyzed down to its smallest detail. Each and every component of the project is analyzed with respect to the time required for completion. After completion of this analysis these components are broken down even further into the time required to do each task.

There are many causes of project failure and every failed project will have its own set of issues. Sometimes it is a single trigger event that leads to failure, but more often than not, it is a complex entwined set of problems that combine and cumulatively result in failure. In case of Avon, though implementation of SMT model was a the next logic step which would give a tremendous boost to its direct marketing structure, there were some pretty drastic errors made which led to catastrophic failure of the project. The prime causes of failure in case of Avon were:

The implementation phase of the Chunnel Tunnel was rife with risks and issues as the project team opted to fast track the design and construction phases of the project (Anbari, et al.,2005, p. 12). Fast tracking is described by the Project Management Institute (2013, p. 540) as a schedule compression technique in which activities or phases normally done in sequence are performed in parallel for at least a portion of their duration. Typically, project teams use this technique in hopes of shortening the delivery timeframe with the knowledge that this approach makes the project susceptible to additional risks (Anbari, et al.,2005, p. 10). The Chunnel Tunnel project team chose to fast track overlap the execution of these two phases due to schedule delays and cost overruns in previous phases. For the project team, compressing the construction time was crucial to ensure that the project objectives would be completed. In time, banks and private investors recognized the incremental risks associated with continuous delays and began weighing in on project decisions to minimize risks (Anbari, et al.,2005, p. 9). Financial stakeholders expected a return on investment (ROI) and the project team allowed them to have too much control when recommending risk mitigation strategies (Anbari, et al.,2005, p. 9). Thus, subcontractor contracts were changes to fixed price contract and later resulted in a contractor claim (Anbari, et al.,2005, p. 9).

In conclusion, this scenario does not put the time as of the essence, but will

thought in this area being: how success is judged and the factors that contribute to the

Project scheduling can be performed in many ways. Some of the more common and popular methods of project scheduling are network analysis and the critical path method of scheduling (CPM). Although companies do not always use these methods in there exact form, most do tend to use a modified version of one or both of these methods. I discovered that Craft does not use network analysis or CPM, but they do have a scheduling method that works for them and is quite similar to CPM.

Having 3 days of delay in electrical can affect the whole project. Therefore, the negotiation of 15 working days would exceed up to 18 days, which could cause the penalty of $300 ($100 per extra day). In order to minimise a project’s critical path, sequencing of tasks should be changed. On the off chance that one can do a project’s tasks in alternate grouping to that initially proposed, one might have the capacity to shorten the critical path. A level of intricacy by striving for shortening the critical path, which is primarily hazardous, is unavoidably acquainted with the task. (Aydar, 2014) With a specific end goal to convey this shorter timescale, the critical path should be controlled

A key activity in project management is assessing project constraints. A project has three limitations: scope, budget and schedule. These limitations are project constraints because they are sensitive to change and have an impact on project risk. Risk is exposure to uncertain outcomes. Project constraints are mutually exclusive. If one constraint changes it affects the others and adjustments may be required to compensate and manage risks. For example, a delay in the schedule can increase the risk that the project will not finish on time. Time is money and delays have a negative impact on the budget. To

Delay in payment,Delay in delivering the material, Long lead items. Delay in financial injection to project

There are multiple factors that influence the type(s) of contract(s) utilized/selected within a project. Some of these factors include: the level of uncertainty related to the scope of work, the amount of project risk willing to be assumed, importance of meeting schedule milestone dates, and the need for projected costs, among others (Darnall & Preston, 2013). Whatever the driving factors are in the selection process, once established, the type of contract selected can have a significant influence on the decision making process related to the trade-off of the triple constraints of cost, time, and performance (Kerzner, 2013). This paper will briefly explain five common types of contracts focusing primarily on how each type can affect project constraint trade-off.

Hence, proper time management is crucial in meeting the deadlines of the projects. As a team, we agreed upon realistic deadlines for all distributed tasks as it helped us complete projects in timely manner.