The debate about whether project costs or time often exceed forecasts has been framed as a research topic and investigated in different scales, methods and locations. The study of Flyvbjerg et al (2002) suggest that project sponsors are lying with their original estimates to ensure funding for their projects. However, other project management theories, such as Turner’s Five Core Functions, the MacLeamy curve and the McKinsey 7S framework, suggest that there are possibilities that cost and time exceed forecasts when other factors surround a project are not managed properly. Therefore, this report is going to, first, review the aforementioned theories; second, compare and contrast the theories with a public sector project, the NHS National Programme for IT; and third, measure the extent to which the project can be explained by theories. The finding of this report shows that there are a variety of pitfalls associated with a project that could lead to costs and time exceeding forecasts, but strategic misrepresentation might be one of the reasons as well.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Literature Review
- Turner's Five Core Functions of Project Management
- Project Life Cycle
- McKinsey 7S Framework
- Case Study
- Background
- Risks of the Project Scope
- Control of Costs
- Project Dilemmas
- Findings
- Conclusion
- References
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This report examines the reasons for underestimated costs and time in public works projects. It aims to analyze the NHS National Programme for IT using various project management theories. The report assesses the extent to which these theories can explain the project's challenges and identifies potential pitfalls that contribute to cost and time overruns.
- Project management theories: Turner's Five Core Functions, Project Life Cycle, McKinsey 7S Framework
- Cost and time underestimation in public works projects
- Strategic misrepresentation in project estimations
- The impact of project scope and stakeholder management
- The role of project management methodologies in minimizing cost and time overruns
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: This chapter introduces the research topic of cost and time underestimation in public works projects. It highlights existing research on the topic and the need for further investigation. It introduces the NHS National Programme for IT as a case study.
- Literature Review: This chapter reviews key project management theories, including Turner's Five Core Functions, the Project Life Cycle, and the McKinsey 7S Framework. It explores their relevance to managing project scope, cost, time, and quality.
- Case Study: This chapter examines the NHS National Programme for IT, focusing on the project's background, risks associated with the project scope, control of costs, and project dilemmas.
Schlüsselwörter (Keywords)
The main keywords and focus topics of this report include project management, cost underestimation, time overruns, public works projects, NHS National Programme for IT, Turner's Five Core Functions, Project Life Cycle, McKinsey 7S Framework, project scope, stakeholder management, and strategic misrepresentation.
- Quote paper
- Echo Yu (Author), 2013, Investigating Reasons for Underestimated Costs and Time in Public Works Projects, Munich, GRIN Verlag, https://www.grin.com/document/214481
