Article Preview
TopIntroduction
For the past decade, there has been growing pressure for companies to attain and maintain a competitive advantage. To do so requires reducing time to the market, cutting cost, improving quality, and more. Therefore, companies ought to enhance processes on a continuous basis. Organizations must make various changes in their programs and software to enhance their capacity to work and deal with increasing expectations and requirements of stakeholders and the market. Development models are ordinarily acknowledged to cultivate a competitive advantage by both businesses and scholars. They delineate the present development level of a part of the association with the goal that partners can distinguish qualities, change focuses, and organize what they can do to achieve higher development learning and demonstration.
For instance, in IT, outsourcing or project management are two areas. The partners will be empowered when the results authenticate the action required to accomplish increased amounts and results in a superior business and spending improvement. The demand for maturity models is increasing among companies since they support the achievement of company goals. An important fact that needs to be considered is that there is no actual description or definition of the maturity model. Additionally, there is no shortage of the model. Regardless, it is noted that these models are utilized for comparison and evaluation so that further improvements can be made. Another and more apparent purpose is to provide a clear approach through which a company can improve its performance.
Due to the increased pressures imposed by external environmental trends, corporations are in a continuous need to remain time and cost-effective but also efficient. To attain organizational strategies, projects are executed to translate strategies for success into measurable results. However, doing so is challenging because of various variables involved, including the needs of performance improvements, development of new products, and overall translating the strategy into results. These pressures and variables require project management to measure performance, assess maturity, and control the project lifecycle. The need for project management maturity models is increasing because firms are involved in managing more simultaneous projects to enhance the probability of success and keep stakeholders satisfied with the company.
In the past, projects were managed technically, and the behavioral aspects were ignored. However, these human aspects are significantly important in today’s project management models. It is believed that more mature and component employees are the heart of successful project management. Furthermore, human capital will enhance the efficiency and effectiveness of the team (Milosevic & Srivannaboon, 2006).
As it is believed that competent and mature employees are likely to increase the project’s performance, leaders must be chosen based on their ability to create a vision regarding the project’s outcomes. Here, their maturity is considered a key factor to achieve organizational goals, increase performance outcomes, and have a successful project overall. Due to these implications, project managers and leaders are inclined to use maturity of the project management. It can be stated that project management’s maturity and their set of competencies is considered a positive construct for successful projects and profitability in the long-run (Suikki, Tromsted, & Haapasalo, 2004).
Due to the increased need for effective project management and maturity, some models are designed. In general, they are likely to measure progress by five stages that incorporate simple project management abilities with highly sophisticated practices. The analysis of the maturity models is not only based on measuring maturity and competency of the project’s management, but also to measure the maturity of the project during the project’s lifecycle (DyReyes, 2008).