Results, prevailing issues and risks involved in using the NTCP-Diamond Approach in project Management.
The traditional approach to project management is based on a predictable, fixed, relatively simple and certain model. But today only few projects are fixed, certain or simple. Some are unpredictable, changing and also may involve a great deal of uncertainty and complexity. As a result, the NTCP model was introduced to overcome these problems. Modern project managers are aware of that different types of projects need different styles of project management.
NTCP model was presented by Shenhar and Dvir in 2007. It is a model used to analyse the success of projects in multiple dimensions. NTCP model is a structured framework that can be used by managers when making decisions about project and how they should be run. NTCP model consist of 4 dimensional aspects and they are Novelty, Technology, Complexity and Pace.
Novelty tells how new is our product in the market. Technology describes technological uncertainty. Complexity gives the complexity of a project. Pace tells how critical is our time frame. The NTCP framework helps to distinguish among the projects and identify the risks and tackle them according. These dimensions and levels are considered before a project is launched. By understanding these dimensions and pattern, the project managers can plan for and share common expectations of performance and impacts.
NTCP model gives the degree of project performance and the contribution made to the business strategy. NTCP model is helpful for senior technology managers who interface with strategic managers. It allows technology managers to engage strategic managers in a discussion which talks about the resources and expectations. This gives true difference in projects of different priorities and obtains much better measurement of performance. NTCP also useful to evaluate a project on the way, identify the gaps in troubled project and select the correct measures to put the project back to the track. NTCP is a described tool for analyzing the expected benefits and risks of a project and developing a set of rules and behaviors for each project type.
There is various issues and risks in using the diamond NTCP model. It will have the difficulty in predicting exact market needs, they will miss some sales target, they face difficulty in attracting competitors to copy their ideas. They also may experience technology failures due to lack of needed skills. They also face difficulties in coordinating and integrating. Sometime they make haphazard mistake.
Results, prevailing issues and risks involved in using the NTCP-Diamond Approach in project Management.
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