Projects frequently fail, not because of a lack of technical skills on the part of those executing the project, but because of inadequate coordination, integration, communication and control of project activities, people, stakeholders and contractors.
This is due mainly to the inability of many project managers to successfully apply the tools and techniques of modern project coordination and control to their projects, as well as to manage and motivate the human resources assigned to the project.
In addition to the financial losses suffered by the organization, many such projects also fail to deliver the required quality of outcomes intended for the project, as a direct consequence of the inadequate identification, definition, planning and control of client or end-user requirements. At this level of management, project and program managers interface to a much larger degree with the strategic business goals and objectives of the company, and are typically involved in strategic business and financial decisions affecting the overall success and efficiency of the organization.
Hence, integration and beneficial utilization of organizational resources, and the application of project portfolio management skills, become critical to the effective and successful delivery of projects.
