A recent survey of IS audit and control professionals found the following project management items associated with failed projects:
- Underestimation of the time to complete the project
- Lack of monitoring by senior management
- Underestimation of necessary resources
- Underestimation of size and scope of the project
- Inadequate project control mechanism
- Changing systems specifications
- Inadequate planning. 1
What are the essential elements of good project management?
To manage projects well, organizations should adopt a framework for project management that includes the elements enumerated in Table 6.4. The project work plan, including phases, work to be accomplished in each, times, and cost, are often documented using a project management tool such as Microsoft Project. Project management—particularly the planning process and establishing the project schedule—ultimately can determine the success of the project.