Issues and challenges of managing projects in India: A case study
The success parameters for any project are in time completion, within specific budget and with requisite performance (technical requirement). The main barriers for their achievement are the changes in the project environment. The problem multiples with the size of the project as uncertainties in project outcome increase with size. For example large-scale construction projects are exposed to uncertain environment because of such factors as planning and design complexity, presence of various interest groups (project owner, owner’s project group, consultants, contractors, vendors, etc.), resources (materials, equipment, funds etc.) availability, climatic environment, the economic and political environment and statutory regulations (Dey, 2001). Although risk and uncertainty affect all projects, size can be a major cause of risk. Other risk factors include the complexity of the project, the speed of its construction, the location of the project, and its degree of unfamiliarity. Projects are risky as they are planned with many assumptions.