Ventures of coordinated effort

The practice of project management is described by a codified standard, but many projects fail nonetheless. This paper describes a new conceptual approach for project management, using a systems-modelling approach to create a graphical representation. New activities are identified not evident in existing models. The model achieves a three-way integration of theory (proposed causality), process (operational detail), and software tools. It also includes external integration with other models of organisational and individual behaviour, and technical enterprise. From this perspective, it emerges that a project is a venture of coordinated effort to capture an opportunity or avert a threat, within constrained resources (particularly time and cost). The theory is of a conceptual nature, but is shown to be readily extendible to practice, including software. It is primarily contextualised for engineering design, though the principles may be generally applicable. The paper provides an alternative perspective on the important topic of project success.