Dynamic Project Management
Despite established processes on project management, large infrastructure project teams continuously struggle to manage several issues posed by the volatile environment of projects. The traditional project management models that have been developed largely deal with more stable environments, firm requirements and deliverables. These models do not equip project teams to deal effectively with the ever-changing, ambiguous, complex and uncertain nature of such projects.
In a traditional project management approach, the project plan is developed to manage the defined and agreed-upon scope of work within the stipulated time and cost with limited resources and some provisions for contingencies. The project plan is developed at the beginning of the project with the baseline. The plans are developed based on the knowns and assumptions (stated and unstated) of the project team at that particular stage. The project performance is monitored, controlled and evaluated against this baseline plan and all efforts are made to achieve the firm deliverables.
In today’s world, the technology and macroeconomic changes are happening at a rapid pace. If the scope and specifications developed at the time of conception of the project are kept firm by the time the project is completed, it is either already obsolete or provides value that is less than what new alternate solutions could offer.
Please log in or sign up below to read the rest of the article.