Abstract
The ability of administrative leaders to manage their emotions, including the influence they have on the people they work with in projects and programs, influences the way the activities involved are organized, conducted, and implemented and the level of project goals that are usually achieved. The success of projects is determined by a number of factors as indicated in the International Project Management Association (IPMA) Competence Baseline [1]. When analyzed and broken into details, those factors are connected to the management and the financial administration processes throughout the project’s life cycle. Several attempts have been made by scholars to write on some of the factors that can contribute to project success. Emotional intelligence as an essential factor for the successful management and financial administration of projects and programs would be shown through the use of the emotional intelligence pyramid. Emotional intelligence would also be connected to the Projects and Programs Success Roulette Wheel where this study would develop based on the IPMA Competence Eye. Studies have shown that managers must have high emotional intelligence to enable them to achieve success in projects and programs.
Highlights
The current knowledge economy, which entails high investments in intangible assets, How to cite this paper: Asare, J. (2016) Emotional Intelligence as an Essential Factor for the Successful Management and Financial Administration of Projects and Programs
Managers who want to be successful in the 21st century must appreciate the need to develop a deeper understanding of the concept of emotional intelligence and how to relate it to the management and financial administration of projects and programs
Emotional intelligence has become the energy for successful management and financial administration of projects and programs in every sector of the current knowledge economy
Summary
The current knowledge economy, which entails high investments in intangible assets (knowledge, information), How to cite this paper: Asare, J. (2016) Emotional Intelligence as an Essential Factor for the Successful Management and Financial Administration of Projects and Programs. A lack of emotional intelligence on the part of project and program managers can affect the entire managerial system, including the financial administration and the implementation of project goals. This would mean that the project manager did not meet the competence baseline set by IPMA. One major factor that can be attributed to the success is the ability of the organization’s managers, such abilities are connected to the competence eye (people, practice and perspective) [3] These three elements of the competence eye are connected to the emotional intelligence of the project manager. Each emotional display of a manager has a motivating characteristic, a personal meaning, and an expression reflected in behaviors (Çeçen, 2006) [4]
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