The impact of time management on effectiveness of projects Dissertation

The impact of time management on effectiveness of projects - Dissertation Example Industrial revolution gave rise to the concept of time management; industrial revolution also gave rise to scrutiny of projects and the concept of project management. Managing time has been considered an essential skill for success in life. Projects have been found to be failures as they could not deliver the intended value. Completing a project on or ahead of schedule is not an effective measure of project success. The effectiveness of project differs from efficiency, the latter being dependent on maintaining time, cost and quality or remaining within the confines of the Iron Triangle. However, projects are not supposed to be effective if they do not achieve the intended objectives even if they have been completed on time. Projects are complex and have risks inherent which necessitate that buffer time is always built in the planning stage. With the aim to evaluate the impact of time management on the effectiveness of projects, four objectives were set in Chapter I. All the four obje ctives have been achieved based on a quality study through secondary data. The study, based on an analysis of past projects, finds that time has not been effectively used in project planning and implementation. Time schedules have been maintained and personal or political interests have taken precedence over project goals. Under pressure people are unable to deliver and give their best. Just completing a project within the defined time does not ensure effectiveness of a project. Effectiveness differs from efficiency where efficiency pertains to adhering to costs and time. Effectiveness pertains to doing the thing right even if it means time overruns. The outcome must add value and be of benefit to the stakeholders. Effective communication and information sharing also contribute to the effectiveness of projects. The parameters of project success may differ across projects and business environment but overall it should meet the intended objectives and not be constrained by resources such as time. Uncertainties and risks are inherent in projects, and these nee d to be built in the project duration. Time allowance or buffering of time is essential which would help meet unexpected events in the implementation of projects. While some discipline is essential to maintain schedules because activities may be interdependent, focusing on the clock in doing the right thing can be counter-productive. Crashing an activity to save on time can lead to compromising on quality or on project goals. The role of the leader is critical to the success of projects. It is important to have skilled and experienced leaders for projects who have the responsibility to keep the team motivated, to plan with realistic schedules and thereby deliver the project successfully. The study finds that time management has an impact on the effectiveness of projects. Maintaining time is important without which chaos and discipline would prevail. However, time has to be managed and planned. Effectiveness of projects is to achieve the project goals. A project may be late and overs pent but it should have delivered intended value. The study concluded by highlighting the limitations and making recommendations based on the limitations. Table of Contents Chapter I Introduction 1.1 Background 1 1.2 Rationale for Research 3 1.3 Research Aims & Objectives 5 1.4 Scope of the Study 5 1.5 Structure of the Study 5 Chapter II Literature Review 2.1 Chapter Overview 7 2.2 Definitions 2.2.1 Time & Time Management 7 2.2.2 Project & Project Management 7 2.2.3 Effectiveness 8 2.3 Evolution of the concept of Time Management 9 2.4 Benefits of Time Management 11 2.5 Factors affecting time management 12 2.6 Project & Project Management 14 2.7 Effectiveness of Projects 15 2.8 Effectiveness of Scheduling Tools in Project Managemen