| The purpose of this article is to investigate the | | | | interesting view of risk as he describes it as "a |
| current hot topics of project management. In the | | | | reflexive phenomenon - we respond to perceived |
| 21st century, there is a clear swift from hard | | | | probabilities and magnitudes, thereby altering them", a |
| systems approach of project management to soft | | | | definition that differs from the traditional quantitive |
| factors, a demand for strategic thinking in project | | | | analysis of risk. Green broads even more the scope |
| management (Buttrick, 2000), new success factors | | | | of risk management and includes the clients. He thinks |
| (Atkinson, 1999) and project uncertainty | | | | that "the process of risk management only becomes |
| management (Ward & Chapman, 2003). Broader | | | | meaningful through the active participation of the |
| project management theory and more intense | | | | client's project stakeholders". In his point of view |
| research efforts are also a trend in the field (Winter | | | | there is a new way of assessing risk management |
| & Smith, 2005).Human beings have been executing | | | | that "depends less upon probabilistic forecasting and |
| projects from ancient times (Kwak, 2003). From | | | | more upon the need to maintain a viable political |
| relocating a tribe to constructing enormous buildings | | | | consistency within the client organisation".The |
| such as the pyramids, projects were a dominant | | | | conventional theory of project management consists |
| element of history. Not long ago, those involved in | | | | of a narrow focus on projects as unique and totally |
| projects understood that they needed methods and | | | | separated units of work. But current projects tend to |
| processes to help them manage these projects more | | | | be integrated smoothly in the general context of |
| efficiently. To meet this need, scientists and | | | | organizations in order to "develop the |
| practitioners worked together to form a new | | | | «management of project portfolios» and |
| concept which was called «project | | | | «programme management» which are |
| management». According to the PMBOK's | | | | more strategically orientated towards «doing |
| definition "project management is the application of | | | | the right projects»" (Winter & Smith, 2005). |
| knowledge, skills, tools and techniques to project | | | | It is common ground in the literature that the theory |
| activities to meet project requirements". (A Guide to | | | | of project management needs more research. |
| Project Management Body of Knowledge, 2004). | | | | Koskela and Howell (2002) suggest that the |
| There are many different views in the literature | | | | theoretical base "has been implicit and it rests on a |
| concerning the birth of project management. Maylor | | | | faulty understanding of the nature of work in |
| (2005) mentions that "project management in the | | | | projects, and deficient definitions of planning, |
| way that we would understand it today did not exist | | | | execution and control". From their point of view, |
| until the 1950s" and Wideman (2001) tracks the first | | | | enrichment of project management with new |
| use of project management in the UK's Institution of | | | | methods and techniques cannot be done with any |
| Civil Engineers report on UK post war national | | | | stable theoretical background. As a result, there is a |
| development first published in 1944.Since then, there | | | | trend of putting more effort in research and |
| have been a lot of changes. "The hard systems | | | | rethinking the way which «bodies of |
| approach, which treated the project as a mechanical | | | | knowledge» is written so that complex projects' |
| activity, has been shown to be flawed" (Maylor, | | | | actions will be better documented.As a conclusion, we |
| 2005). The soft skills of project management are | | | | could use the words of D.T. Jones (2005) who writes |
| getting more attention because it is now clear that | | | | that "project management is no longer about |
| "the ability to apply these skills effectively throughout | | | | managing the sequence of steps required to |
| the life cycle of a project will enhance the success of | | | | complete the project on time". He adds that "it is |
| a project exponentially" (Belzer). In spite of the | | | | about systematically incorporating the voice of the |
| perfect understanding of planning, scheduling and | | | | customer, creating a disciplined way of prioritising |
| controlling, projects have still a high rate of failure. | | | | effort and resolving trade-offs, working concurrently |
| Belzer points out that "more often they fail because | | | | on all aspects of the projects in multi-functional |
| of a project manager's inability to communicate | | | | teams".References1. A Guide to Project Management |
| effectively, work within the organization's culture, | | | | Body of Knowledge, 2004, 3rd Edition, Project |
| motivate the project team, manage stakeholder | | | | Management Institute2. Adams, Review for THES |
| expectations, understand the business objectives, | | | | Risk Decision and Policy, Cambridge University Press, |
| solve problems effectively, and make clear and | | | | [Electronic]3. Atkinson, 1999, Project management: |
| knowledgeable decisions". To address these problems | | | | cost, time and quality, two best guesses and a |
| in the 21st century, a project team needs to develop | | | | phenomenon, its time to accept other success |
| a series of soft skills such as "communication, team | | | | criteria, International Journal of Project Management |
| building, flexibility and creativity, leadership and the | | | | Vol. 17, No. 6, pp. 337±342, [Electronic]4. Belzer, |
| ability to manage stress and conflict". (Sukhoo et. al, | | | | Project Management : Still More Art than Science, |
| 2005).In addition, project management requires a | | | | [Electronic]5. Buttrick, 2000, The project workout, |
| stronger strategy orientation. "More than 80 per cent | | | | 2nd edition6. Engwall, 2003, No project is an island: |
| of all problems at the project level are caused by | | | | linking projects to history and context, Research |
| failures at a board level in firms to provide clear policy | | | | Policy 32, pp. 789-808, [Electronic]7. Ferguson, 2005, |
| and priorities" (Maylor, 2001). The approach that | | | | First Tutorial on Strategic Management, Full Time MSc |
| Maylor suggests is very different from the traditional | | | | in Project Management, Lancaster University8. Green, |
| link between strategy and projects, as he proposes | | | | Towards an integrated script for risk and value |
| a "coherent, co-ordinated, focused, strategic | | | | management, Department of Construction |
| competence in project management which eventually | | | | Management & Engineering, The University of |
| provides source of competitive advantage". This | | | | Reading, UK9. Jones, 2005, Foreward to Maylor's |
| two-way methodology that relates organisational and | | | | book Project Management, FT Prentice Hall, UK10. |
| project strategy is illustrated in figure 1. To better | | | | Koskela & Howell, 2002, The underlying theory of |
| understand the project's strategy, there is also a | | | | project management is obsolete, Project |
| need to analyse "the experiences from past | | | | Management Institute, [Electronic]11. Kwak, 2003, The |
| activities, politics during the pre-project phases, | | | | Story of Managing Projects, Quorum Books, |
| parallel courses of events happening during project | | | | [Electronic]12. Maylor, 2005, Project Management, FT |
| execution and ideas about the post-project future" | | | | Prentice Hall, UK13. Maylor, 2001, Beyond the Gantt |
| (Mats Engwall, 2002).Moreover, Maylor highlights a | | | | Chart:: Project Management Moving on, European |
| change in project's success criteria, from | | | | Management Journal Vol. 19, No. 1, pp. 92-100, 2001, |
| conformance to performance. In 1960s project | | | | UK, [Electronic]14. Sukhoo, Barnard, Eloff, Van der Poll |
| managers seek to comply only with the documented | | | | Accommodating Soft Skills in Software Project |
| specifications of the project, while current projects | | | | Management, Issues in Informing Science and |
| require real performance. In other words, the success | | | | Information Technology, University of South Africa, |
| criteria of the 21st century as indicated by Maylor | | | | Pretoria, South Africa, [Electronic]15. Ward, 2003, |
| have changed to as short time as possible, as | | | | Transforming project risk management into project |
| cheaply as possible and towards a maximum | | | | uncertainty management, International Journal of |
| customer delight. Other academics imply nowadays a | | | | Project Management vol.21, pp. 97-105, [Electronic]16. |
| much simpler view of success criteria which is | | | | Wideman, 2001, Criteria for a Project Management |
| focused only in keeping the client happy (Ferguson, | | | | body of knowledge, [Electronic]17. Winter & Smith, |
| 2005) in contrast with the 90s view of just finishing | | | | 2005, 'Rethinking Project Management, Making Sense |
| the project on time and on budget.Changes in risk | | | | So Far: Emerging Directions and Future Research', |
| management are also one of the hot topics of | | | | Rethinking Project Management (EPSRC Network |
| project management in the new century. Ward | | | | 2004-2006), [Electronic]Dimitris Litsikakis is currently |
| (2003) propose the term «uncertainty | | | | studying MSc Project Management in one of the top |
| management» and recommends that a "focus | | | | business schools in UK, Lancaster University. He has |
| on «uncertainty» rather than risk could | | | | published a series of articles in Ne.O (New Technology |
| enhance project risk management". Adams has an | | | | Observer). |