This study deals with exploration, identification and study of Critical Success Factors (CSFs) that influence the project performance with particular reference to ‘Start-up Projects’ in select industry sectors such as engineering, infrastructure, construction, telecom and software projects, especially in India. It is clear that the ‘strategic intent’ that gives birth to a project, is to bring about certain changes that are necessary for organizational effectiveness. Thus, the projects, particularly the start-up projects, must have a strong link with the ‘Business Strategy’ of an organization. In practice, however, the ‘Project Performance’ is influenced by the ‘Business Environment’, technology changes and notably the market factors and the expectations of a variety of stakeholders.
The research undertaken is based on 30 case studies across a few industry verticals. The main aim of this study is to understand Critical Success Factors (CSFs) that affect the success probability of the start-up projects, especially in India. It was additionally important to find out if the conventional CSFs are adequate to manage project progress, or, if there is a need to enlist additional success factors for start-up projects, especially in India. The data about the 30 cases was compiled based on field work, questionnaire and personal interviews with project personnel. The data compiled was thoroughly analyzed and subjected to statistical analysis for validation of the results obtained from the study.
The analysis indicates that there is a strong case for incorporating two additional CSFs namely, ‘Flexibility in Planning’ and ‘Dynamic Feasibility Study’ for inclusion in the list of CSFs, especially for Indian Start-up Projects. Inclusion of ‘Flexibility in Planning’ envisages multiple levels, namely organizational, strategic, and operational levels. ‘Dynamic Feasibility Study’ is essential since the current static; one time approach to feasibility assessment is no longer valid when the project environment undergoes major changes. Additionally, it is seen that ‘Risk Management’ and diligent analysis of ‘Scope’ need specific formal attention from the project teams.
Keywords
