Adoption of Project Management Strategies and Minimization of Time and Cost in Project Execution

Adeyemi Bode, Thomas and Zeyad B. Ragab, Amhana (2024) Adoption of Project Management Strategies and Minimization of Time and Cost in Project Execution. American Journal of Economics and Business Management, 7 (3). p. 23. ISSN 2576-5973

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Abstract

This paper emphasized on the fundamental role of effective project management in achieving successful project outcomes while minimizing time and cost. The study explored project management methodologies such as waterfall, agile, scrum, and kanban, highlighting their contributions to project navigation. It focused on the strategic use of time and resources and the importance of cost minimization in project management. The research explored the complex relationship between project management strategies, time management, and cost minimization, scrutinizing methodologies' impact on timelines, resource allocation, risk mitigation, and stakeholder communication. It underscored the significance of efficient project management techniques in planning, scheduling, risk management, and stakeholder communication for overall project success. From the findings the study concluded that the interplay between project management strategies, time management, and cost minimization is deemed indispensable as organizations and individuals embrace these strategies to position themselves to achieve predetermined objectives within specified constraints, demonstrating the indispensable role of strategic project management in optimizing outcomes while minimizing both time and cost. One of the recommendations of the study was that it is crucial for project managers and all personnel concerned with project execution to continuously evaluate and optimize resource utilization to prevent bottlenecks and unnecessary expenses.

Item Type:	Article
Subjects:	L Education > L Education (General)
Divisions:	Postgraduate > Master's of Islamic Education
Depositing User:	Journal Editor
Date Deposited:	18 Mar 2024 15:25
Last Modified:	18 Mar 2024 15:25
URI:	http://eprints.umsida.ac.id/id/eprint/13494

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