Category: Business Essay

The term project management refers to the process of controlling, organizing, planning, and supervising of the project tasks by a project manager to ensure the success of any given operation. No project can be undertaken without proper planning. It is, therefore, the role of a project manager to plan and organize the future course of actions, which would involve making arrangements, providing staffing, directing and monitoring. Essentially, a project manager ensures that duties are shared among the project team members in order to enable completion of the plan within the required time schedule. The aim of the paper is to analyze the project management maturity model and its impact on the success of a project.

To start with, the Project Management Maturity Model (PMMM) denotes the basic stages that a business can go through to achieve quality in project management. According to it, a particular level of an organization’s project management maturity can be reached through organizational efficiency, beneficial performance, and consumer satisfaction. For any organization to assess its project management maturity, it has to evaluate the knowledge of project management performance, which can be accomplished with the help of a project maturity model.

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The primary aim of such a model is to establish the weaknesses and the strengths of any given project for the purpose of seeing the business opportunities within. It can, therefore, ascertain if a particular scheme succeeds or fails in generating consistent and justifiable outcomes. Project maturity model enables an organization to evaluate the maturity level and suggests any changes for improvement. Moreover, it also helps an organization to make any necessary recommendations and comparisons to other groups. In other words, the company itself can make self-assessment in terms of improvements. Project management maturity shows the progressive procedure that allows organizations to make constant improvements during the project course. It is a continuous process of monitoring the progress of a project until its completion that may be set, depending on the needs of the business, to the extent of particular degrees of maturity.

To be precise, the Project Management Maturity Model has five levels in determining the success of projects. The first level is the common language level: it involves providing training in project management and employment of project management experts. It encourages the utilization of a corresponding language in projects and enables the use of various project control apparatuses, patterns and forms. Accordingly, the second level is a set of standard processes, which involves increasing the funding for project management all over the organization. To ensure sustainability, it also requires the acknowledgment of the long term profits of project management and using the best possible strategy for future operations.

The third singular methodology level employs all methods into a collectively recognized project management approach. What is more, it also promotes a sense of collective accountability for the principles of project management. The fourth level is benchmarking, as it is essential for any project to reach a higher level of project management maturity through understanding the benefits of benchmarking. The last level is the continuous improvement: through assessing the lesson learned after the benchmarking process. It is thus important for an organization to conduct successive projects on the basis of the lessons learned from antecedents. Thus, an organization can apply the project management maturity model to increase their productivity by means of making changes and necessary improvements in future projects. Aforementioned can be ensured through the continuous improvement and training of competent staff, provided businesses constantly monitor the schedule and budget for effective project control. Some may say, it can be done through the feasibility study, defining scope and objectives of the projects. It is, therefore, the role of a project manager to guarantee that the project team is meeting the objectives and goals of the project in a proper manner, by monitoring the activities of the team and acting in agreement with the stakeholders’ and donors’ guidance.

Organization’s productivity can be increased through proper planning, the achievement of all tasks and overcoming milestones. Therefore, it is necessary for a project manager to implement project management strategy, which involves controlling tasks in a project. In detail, it involves choosing the goal and objectives, planning for the operational work in accordance with the schedule, sharing the tasks and distributing funds. Thus, the operation manager should work towards executing proper project management.

Importance of Organizational Strategy

Some may argue that an organization reaches successful project management maturity only through delivering a tactical plan. A well-formulated and implemented strategy institutes the grounds on which the company can produce, display and measure the degree of their success. However, many project managers discover that policy and its purpose as challenging to deliver. Nevertheless, the organizational strategy is critical to the success and sustainability of any organization for various reasons: strategy assists organizations to comprehend their organization and the essentials to its prosperity enable an organization to understand its major abilities, rule out and address its weaknesses and look for means of handling risks. Last but not least, strategy assists companies to search for ways to reach better results, productivity and increased profits. For such purposes earned value analysis can be valuable, though the standard method of measuring the achieved progress at any point of given time and prognosing future breaking points, which can be used as a part of a strategy acquired by a company. Such method integrates cost, schedule, and scope and can be used to forecast future performance and project completion dates.

In its essence, external environment tactical assessment plays a particular role in implementing long-term benefits and growth of a company. Trends in the external environment can impact business operations and organizational strategy is needed to advise on the way such changes should be handled. All in all, such a tactical way helps in creating a vision and direction for each project and for the whole organization at the same time, thus creating a mutual determination between them. Also, it sets the pace for achievement of goals and a set of actions in order to reach the goal, attends to every individual operating towards the same result, monitors that time and resources are being assigned due to the same objectives and purposes. It is important for an organization to come up with a well-formulated strategy that will lead to growth, productivity and benefits for present and future generations. Thus, the project leader should lead their team members to shared goals and objectives that will maintain the organizational focus as