Iron Triangle Project Management Practice And Challenges: In Case Of It Projects In Commercial Bank Of Ethiopia
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Date
2018-06-04
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Addis Ababa University
Abstract
The objective of this study was to assess the current Iron Triangle Project Management
Practices and Challenges of Commercial Bank of Ethiopia (CBE) in relation to
Information Technology Projects. In this work, attempts were done to examine and
compare CBE’s practice with the available Project Management Standards and best
practices. In this descriptive survey, mixed research method was employed. Data
collections were done using questionnaire survey, document analysis, and interviews. To
analyze the data descriptive statistics using 5-point Likert SPSS tool was employed.
Moreover, the findings were organized into four basic categories namely: General
Project Management process Aspect, Project Scope Management, Project Time
Management and Project Cost Management. Accordingly, the major findings are: (1)
Lack of experienced Project Managers, (2) unable to use historical data and Work
Breakdown Structure (WBS) as input in defining project schedule and estimating detail
cost of labor, material, and equipment separately, (3) weak practice in application of
computer software or tools in managing of scope, cost, and time, (4) there is a gap in
time phased budget preparation, regular budget update, performing variance analysis,
and forecasting budget, (5) did not prepare the detail WBS following project scope
definition, (6) Historical data are not well organized and accessed to project managers.
In addition, this research identified major challenges such as (1) unable to use computer
applications and tools in managing Iron Triangle Elements, (2) IT Project Managers
were unfamiliar with different PM Standards, (3) lack of Standardized Project
Management Methodology, Templates and Procedures, (4) Absence of Project
Management Training, and (5) Lack of Documenting Lessons learned. As a concluding
remark, understanding and well managing of the Iron Triangle elements is crucial to
project success. Moreover, understanding the nature of IT projects, applying pertinent
methodology, Standards or Best Practices, and awareness of numerous and varied
challenging issues surrounding the implementation process could contribute to the whole
process of IT Projects Implementation.
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Keywords
Project, Iron Triangle Project Management, Challenges, Practices and IT Projects