Different VLITP methodologies are capable of solving various types of problems during a project life cycle. This chapter shows that effect of VLITP methodologies can be widespread, especially in regards to project phases, resource allocation, project monitoring, adjustment of project scope, correction activities, and so forth. It reviews several methodologies that are often used to implement VLITP.
TopIntroduction
Project methodologies allow businesses to maximize the value of VLITPs for themselves—usually by changing focus. Charvat (2003) describes project methodology not only as a mindset used by businesses to reshape their entire organizational processes, but also as a radical cultural shift for organizations. The problem with this description is the need for methodologies to change as businesses do. With this clarification, a VLITP methodology can be defined, as a list of activities to do that can be adapted to a particular situation, within a specific period of time. Such a list would control and lead the actions of all members of VLITP teams during the life of the project. This requires that all members of the team be familiar with the project methodology, support and use it throughout the life of the project.
There are times when project methodology can go wrong (Cleland, 1990; Patel and Morris, 1999). During such times the VLITP managers need to be able to identify which aspects of the methodology is not working or those resulting to inappropriate resolutions. Charvat (2003) suggests the following project methodologies shortcomings:
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They are often rather abstract and presented at high level than project managers can deal with.
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They sometimes contain insufficient narratives to support problems resulting from their usage and may not have any performance metrics.
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They could either be non-functional or incapable of addressing problems with crucial areas of the project.
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They use non-standard project conventions and terminology, ignoring the industry standards and recognized best practices.
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They may look impressive but frequently lack real integration into many business issues of real importance to the host organization.
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They compete for similar resources without addressing this problem.
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They could even take too long to complete because of bureaucracy and administration.
TopReview Of Existing Methodologies
Each year, the largest companies in the world cancel hundreds—even thousands—of VLITPs before completion. These projects might be new application software (custom or off-the-shelf), new network architectures, or even new desktop operating systems, but they share one characteristic: discontinued by management before completion. The host organization never reaps the anticipated benefits and wastes thousands, and sometimes millions, of dollars (Keil, 2000). This section examines some of the primary reasons that VLITPs fail, and outlines some of the steps that can be taken to avoid these pitfalls and give VLITPs their best chances for success.
A VLITP is a series of steps, completed by team of project managers over a very long period of time to achieve that goal. Therefore, developing the ability to plan and complete a VLITP is critical to reaching the direction of the host organization’s goals and objectives (Rosenau and Githens, 2005). Managing VLITP effectively is one of the most important capacities an organization can possess, as these projects comprise the work of many people, and of any new product, service or initiative (Tao, 2000).
The following are many ways the host organization can ensure a VLITP will reach completion stage: