Review of Latest Literature

The foremost determination of this formal business report is to focus on the effectiveness of the group and individual decision in project management. This report will be guiding the reader to know about the contribution of each people concerned with a project. The issue related to each decision of the group members are discussed in this paper. The success and failure rate of different decision making strategies in a project are focused on this business report (Burlingame et al. 2016). One of the prime contributions of this report is that it discusses how the contributions of the group members in a project contribute to the project management.

Review of latest literature

The decision taken by an individual in project is generally much faster than the decision making of a group of members as it may have a direct negative impact on the project considering the deadline issue. One of the benefits of individual decision making in project management is the accountability and authorization factor which is much more complicated for the group decision making (DuBois et al. 2015). On the other hand, according to latest study, it can be said that the application of group decision making is one of the methods by which the diversity of ideas can be implemented in projects. The group decision making helps to increase commitment for the concerned group members towards the project. Lots of creative idea and techniques can be applied in the group decision as individuals may not want to get associated with the calculated risks associated with complex projects.

The assumptions done in a group decision is much more flexible way in case of the group decisions (Uhl and Gollenia 2016). All the important aspects of the project management such as the moral and ethical values are implemented in a professional way in a group project rather than an individual project where these important criteria s are sometimes overlooked due to different types of issues. The group decision is not at all stereotyped as fresh ideas and challenges are always accepted in this form of the project management. The doubt and challenges involved in the group decision can be minimized to a significant extent compared to the individual projects (Rahim 2017).

Decisions can be unanimously taken in the group projects as compared with the decisions which are taken by individual in project as the individual projects may some sometimes needs validation and authentication from the higher authorities. The net outcome or the desired results of the group decision can give more assurance than the individual decision as the results are there are less chances of marginal errors.

Success and failures of different decision-making strategies

There different cases of success and failure of the decision making strategy are due to different kinds of factors such as identification of the issues related to the projects, establishing and weighing decision criteria, generations and evaluation of best possible alternative strategies regarding the project, implementation of the strategy, evaluation of the decisions after its incorporation into the project (Alden et al. 2014). The failure of the decision making strategies are due to many reasons such as laziness, wrong anticipation, indecisiveness, lack of strategic alignment, over dependence on the parameters of the project, lack of skills, lack of technical depth, failure of communication.

Benefits and Drawbacks of Group Decision Making

The success rate of the project management is dependent on different types of factor such as clarity of objectives, classification of objectives according to the importance, and the alternative actions. The other conditions for success are quantity of resources, timeliness of resources, quantity of information related to the objective of the resources, accuracy of information related to the parameters of the projects, diversity of interests regarding the projects, internal and external influences, disagreement between the team members, compromise, delay in recognition and delay in the process.

Discussion

The above stated parameters are important factors regarding the success and failures of the different types of decision making strategies. The reason behind the failure and the success of the decision making strategies are discussed in this unit of the paper. Laziness which is the important factor regarding the failure of the project as it causes sloppiness in works. This causes unwillingness to work among the employees. Anticipation which is an important parameter regarding the success and failure rate of the project considers all the both the negative and positive possibilities of the projects. The group of decision makers having a good anticipation is an advantage for the outcome of the project.

Every project parameters keep on changing according to business conditions and the decision making skills or the approach to those business conditions are key decisive factors for the success of the projects. Poor decision making in the adverse business condition leads to failures such as delay in project delivery. The past delays and failures sometimes have a direct impact on the rate of failure in the project management.

The decision regarding taking calculated risks is one of the most important criteria as most of the member associated with the project sometimes hesitates to take these strategic decisions as it might have a negative impact on both the project as well as their career. Having no strategic alignment is one of the other reasons behind the success and failure rate of the strategies, implementation of clear strategy is one of the main reason behind the successful incorporation of different kinds of strategies (Tumwebaze and Mosler 2015).  Over dependence is one of the other factors which have a direct negative influence on the efficiency of the business making strategies. The over dependence should be purposefully solved with the help of the best alternative. Choosing the best alternative is also an important factor regarding the success and failure of the business making strategies.

The different types of influence such as the internal and external have a direct impact on the different decision making strategies. The decision making strategies are also impacted by the isolation where the different member of a group have different opinion about a same topic. This causes tension and anxiety among all the members of the group (Cabrerizo et al 2014). Lack of technical depth among the group members as well as the concerned individual who is concerned with the project is also an important factor regarding the success and failure of the project as the separate time in which trainings sessions are provided to them for enhancing their abilities is a loss time for the project. Communication among the concerned strategic planners is the other important factor regarding measuring the success and failure rate of the decision making strategies.

Factors Influencing Decision Making in Project Management

Improvement of the People Contribution to Project Management

The different types of contributing factors to project management are the discussed in this section of the report.

Support Innovation: Each project in an organization involves different types of stakeholders such as the internal and the external stakeholders, innovative idea coming from any section of the organization should be considered and implemented in the different modules of the project management schedules.

Leadership qualities: The leadership qualities of the project managers as well as the other concerned employees of an organization are a very important factor which contributes to the smooth conduction of the projects (Kerzner and Kerzner 2017). The identification of the strength and weakness of the parameters of the project management is very much important for the overall success of the organization involved in the project management.

Recruitment: The recruitment process regarding sensitive projects should be done in an efficient manner as it will be directly contributing to the success and failure of the involved organization.

Advanced training: All the stakeholders associated with the particular project should be subjected to major changes from the comfort zones to much more complex zones. Advanced training sessions should be given to the group members of a project or the concerned individual so the desired outcome can be achieved after the project is completed (Boyle 2017). These training sessions should be enhancing the efficiency and productivity of the organization by providing in depth knowledge about all the concepts associated with the projects.

Commitment: The mission and vision of the project should be well understood by all the concerned stakeholders of an organization. Everyone should be following the rules and regulations of the prosed as discussed in the fundamental phase of the project. The understanding between the team members of a project helps both the members as well as the organization which they are working for (Jeston 2014). Communication between them is the most effective way behind the timely completion of the projects.

Project Management tools: The application of the different types of project management tools is the other aspect of control to project management. Different types of tools are used to evaluate the current infrastructure, as it is very much important in project management to deal with the infrastructural issues are very complex in nature and have the capability to have an impact on the project.

Conclusion

From the above report it, can be concluded that there are lots of challenges and issues related to the project management strategies which needs to be minimized in order to maintain the effectiveness of the projects. This paper helps the readers to know about the different types of success and failure of different decision-making strategies. From this writing we can conclude that there are different type of contributions are required in the project management such as the leadership qualities, proper recruitment service, effective project management tools, commitment and advanced training.

Reference

Alden, D.L., Friend, J., Schapira, M. and Stiggelbout, A., 2014. Cultural targeting and tailoring of shared decision making technology: a theoretical framework for improving the effectiveness of patient decision aids in culturally diverse groups. Social Science & Medicine, 105, pp.1-8.

Boyle, G., 2017. Design project management. Routledge.

Burlingame, G.M., Gleave, R., Erekson, D., Nelson, P.L., Olsen, J., Thayer, S. and Beecher, M., 2016. Differential effectiveness of group, individual, and conjoint treatments: An archival analysis of OQ-45 change trajectories. Psychotherapy Research, 26(5), pp.556-572.

Cabrerizo, F.J., Ureña, R., Pedrycz, W. and Herrera-Viedma, E., 2014. Building consensus in group decision making with an allocation of information granularity. Fuzzy Sets and Systems, 255, pp.115-127.

DuBois, M., Koch, J., Hanlon, J., Nyatuga, B. and Kerr, N., 2015. Leadership Styles of Effective Project Managers: Techniques and Traits to Lead High Performance Teams. Journal of Economic Development, Management, IT, Finance & Marketing, 7(1).

Jeston, J., 2014. Business process management. Routledge.

Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons

Rahim, M. A. (2017). Managing conflict in organizations. Routledge.

Tumwebaze, I.K. and Mosler, H.J., 2015. Effectiveness of group discussions and commitment in improving cleaning behaviour of shared sanitation users in Kampala, Uganda slums. Social Science & Medicine, 147, pp.72-79.

Uhl, A. and Gollenia, L.A. eds., 2016. Business transformation management methodology. Routledge.