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Success Factors

One way of ensuring project success is to establish a project management office or similar central entity within an enterprise to control and manage decentralized and distributed resources, and to better handle technological and organizational complexities that were previously unanticipated or unforeseen in any stage of a project management lifecycle. Another reason for establishing such an office is to streamline or eliminate redundant, overlapping parts of interrelated functions—e-commerce or web-based projects, for example—within an enterprise and with external enterprises. When the enterprise regains its image as a more efficient company in controlling costs and time of creating, implementing, and deploying successful projects, it's in a better position to provide project success templates to medium-sized companies and small businesses whose tight budgets don't allow them to absorb the overhead costs of all or parts of project resources, as their larger cousins can.

Other factors contributing to project success include end-user expectations; ROI; and more streamlined integration of software, hardware, and network technologies with better solutions for interoperability issues among diverse platforms. Some examples of technologies are Enterprise Application Integration (EAI) applications; web services (as a supplement, not as a replacement for EAI); and wireless technologies. In addition, increasingly competitive markets have created demands for faster deliveries for less cost to potential consumers, who can change online buying decisions with a mouse click or two. Due to narrower profit margins, it's necessary to find ways to reduce or eliminate possible factors contributing to project failures.

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