Project Management Practice: Redefining Theoretical Challenges in the 21st Century

Abstract

From the incessant project failures, project delay and cost overrun to extreme difficulty in agreeing on what constitute project success and project management success, project management practice is more challenging in the 21^st century than previously propounded. Therefore, the theoretical challenges facing project management practice were examined and the research findings indicate several ways in which the use of project management methods and standards can help in delivering successful output. This work has significant implications in the way project managers actually manage projects in practice. For example, we proposed that project management theory and practice are interdependent only when project management theories are beneficial and can be applied. This proposition has implications on project management practice because if project management theories are not particularly applied to manage current projects then it would be difficult to assess project management validity. In conclusion, the research limitations are highlighted and recommendations for future research were made.

Key words: project management practice, project failures, project and complexity, project evaluation and performance.