Greed and Corporate Failure – The Lessons from Recent Disasters

Abstract

PurposeThis paper aims to examine the use of project management practices in small high‐technology firms and to identify what contributes to project success.Design/methodology/approachThe results presented in this paper are based on a survey of Irish high‐technology small‐to medium‐sized enterprises (SMEs). A questionnaire was distributed to over 200 organisations via e‐mail and a response rate of 20 per cent was achieved.FindingsResults suggest that the existence of a project manager and the use of project planning significantly contribute to project success. Control for projects resides primarily with owner‐managers and achieving quality standards is a significant success criterion. Additionally, having clear goals/objectives and top management support are identified as the most important success factors in the firms surveyed.Research limitations/implicationsThis paper presents the findings of an initial investigation into the management of projects within SMEs. The study has been limited by the number of respondents and also by the use of a survey as a research instrument. Further research to develop a deeper understanding of how projects are managed in SMEs and how project success can be improved would require a more varied research methodology.Practical implicationsFindings suggest that project management tools and techniques are being used to a limited extent by high‐technology SMEs. Analysis suggests that the employment of a project manager and the implementation of project planning techniques are likely to contribute to the overall success of projects. SMEs also strongly believe that past experiences are a vital factor in implementing effective management procedures and determining future success.Originality/valueWhile most research into the use of project management has concentrated on practices within large firms, there has been a lack of investigation into project management in small firms as addressed by this paper.