How to balance the elements of project success
- Jori Kosonen
- Sep 15
- 5 min read
Updated: Sep 19
Insights based on projects competence surveys
In a constantly and rapidly changing operating environment - the development of business, products and services is realized through project activities. A successful project can lead to increased productivity, stronger market position and significant value creation. Respectively a failed project drains resources and undermines stakeholder confidence in an organization’s ability to achieve its strategic goals. The organization's ability to implement its strategy and operational agility therefore require continuous development of the project culture.
What is required to achieve consistent project success?
According to a recent (Fall 2021) survey, the most important task of project management is to ensure that the benefits of the project are realized. The project must produce value for the customer and its success is assessed based on the satisfaction of customers and other key stakeholders. Satisfaction is influenced not only by the end result, but also by the process by which the results are achieved.
The progress of the process is also important for the project team responsible for the practical implementation of the project. Team satisfaction requires a clearly defined and appropriately limited goal and sufficient resources to solve the project's challenges and achieve the goals. The content of the project itself is also an element of success.
The survey highlights the following factors that support success:
Considering different types of objectives
Adequate project definition and scoping
Sufficient resources
Committed leadership
In organizations where project managers are not certified, the project manager's expertise and experience are emphasized as factors for the success of an individual project.
The following were seen as factors that undermined success:
Lack of project manager skills or experience
Lack of proper content knowledge
Overly broad or poorly defined project scope
If a project fails, the project manager is often the only one to be held accountable. However, the project owner and the entire steering group should also be held responsible. The role of the steering group can be compared to the board of directors of a company and the role of the project owner to that of the chairman of the board. A board makes decisions collectively and so should the steering group.
The project owner is typically a business executive, understands project’s benefits needed and takes responsibility for achieving them. This person is accountable for ensuring progress, resourcing and final results as well as reporting to their manager and peers. The project owner also forms the steering group and ensures it has the necessary decision making power. They are responsible for supporting the project manager and fostering a project culture based on trust and continuous development. The steering group creates value for the project only when it can make justified decisions and act effectively.
Project managers often lack management support
Based on a separate survey on steering group professionalism (2019), the steering group work was regarded as important or very important by the majority. Also 88% believed its significance would remain the same or increase in the future. The biggest obstacles to professional steering group work were identified as lack of commitment, lack of ownership, poor prioritization and lack of time.
In the 2021 project management survey, 73% of project managers and 76% of business executives believed that steering groups are poorly committed to projects. Many steering group members fail to recognize their critical role in project success or lack the skills to fulfill it. Top competency needs emphasized as crucial for steering groups were business and strategic expertise (82%) and understanding one’s role and responsibilities (72%)
Projects are becoming increasingly complex, involving more stakeholders and dimensions. New business demands, diversity, evolving roles, digitalization, networking and rising stakeholder expectations all add layers of complexity. A huge amount of variables and the need for constant interaction challenge both project managers and steering groups. Success is more likely when those in key roles possess project expertise — the ability to make fact-based decisions. It's crucial to speak a common language, regardless of background, role or concurrent responsibilities
The steering group's skills needs in this survey included business and strategy skills (82%) and understanding their own role and responsibility (72%).
Projects are becoming increasingly complex, with more parties and dimensions to manage. Their complexity is increased by, for example, new work requirements, diversity and job roles, digitalization, networks and growing expectations of stakeholders for projects. Knowledge of countless variables and interaction between different parties test the capabilities of both the steering group and the project manager. A project is more likely to succeed when key roles have project expertise, i.e. the ability to make project-related decisions. You need to be able to speak a common language regardless of different backgrounds, simultaneous responsibilities and roles.
Certified project managers' projects are repeatedly successful
When creating something entirely new and unprecedented, it can be difficult to identify the necessary skills. Certification offers a strong option for validating project management competence. It ensures an objective assessment of skills.
The international IPMA certification is the most common way to demonstrate high-quality project management competence in Finland. The process emphasizes practical experience in managing complex projects and requires hands-on experience even before applying. This experience is also evaluated during the exam and interview.
A joint study by PRY and consulting firm Verona Consulting (2021) found that certified project managers achieve better results than their non-certified counterparts — 71% of respondents agreed. Certified project managers value and understand the importance of effective steering groups. The majority felt that strong project ownership is a prerequisite for quality project outcomes.
In organizations where project managers aren’t certified, individual skill and experience dominate as key success factors. For certified managers, adequate resourcing, project scoping, and management commitment are also emphasized. Certified managers clearly recognize the importance of well-functioning steering groups.
The most important areas of expertise for project managers in 2021
1. Good management practice
2. Leading people
3. Willingness and skills to communicate
4. Motivating and engaging people
5. Self-management
6. Network and stakeholder management
7. Transparency and trust
8. Problem-solving skills
9. Managing content important to projects
The most important areas of expertise for project managers in 2016
1. Willingness and skills to communicate
2. Leading people
3. Motivating and engaging people
4. Network and stakeholder management
5. Problem-solving skills
6. Good governance and project management processes
7. Managing things
8. Negotiation skills
9. Change management
Project Management Survey: Verona Consulting conducted a project management survey for the fifth time in October 2021. The survey which maps future trends in the field - was conducted in cooperation with the Finnish Association of Project Professionals. The organizations were selected as comprehensively as possible from organizations of various sizes representing different industries. A total of 126 people from public administration and the private sector - mainly from large organizations - responded to the survey. Previous surveys were conducted in 2007, 2009, 2011 and 2016. In total, there were approximately 1,600 respondents to the surveys.
Published in Autumn 2022, Project Activities magazine
Jori Kosonen CEO, Talent Network
Certified Executive Consultant and Coach IPMA A-level
IPMA Project Excellence Award Assessor and Judge
