Management Maturity Model Research Paper Example | Topics and Well Written Essays - 2750 words

Management Maturity Model - Research Paper Example Killen and Hunt (2013) stressed the maturity level of any project and argued that the project maturity level is directly linked to the long term value of the project portfolio and resource allocation. Apart from Killen and Hunt (2013), other research scholars such as Rad and Levin (2006) and Pellegrinelli and Garangna (2009) have also stressed that project management maturity model is one of the crucial factors for any project management team. In the context of theoretical arguments of research scholars and project managers, the researcher has decided to shed light on project management maturity model with the help of both practical examples and theoretical hypotheses. Although the researcher is a project manager, throughout the paper the researcher will take a conjectural view in order to address the research problem in a fact-driven manner. Project Management Maturity Model Korbel and Benedict defined a project management maturity model (PMMM) as the systematic framework for a project management team to perform benchmarking and deliver value to the modern organization. A maturity model is basically an assessment approach by which an organization compares its project performance with the industry’s best practices and prepares a structured pathway to improve the existing processes. Korbel and Benedict pointed out a number of benefits associated with project management maturity models (PMMM) such as cost saving, an increase in the preciseness of project schedules and improvement of the quality of the project. ... f research scholars and project managers, the researcher has decided to shed light on project management maturity model with the help of both practical examples and theoretical hypotheses. Although the researcher is a project manager, throughout the paper the researcher will take a conjectural view in order to address the research problem in a fact-driven manner. Project Management Maturity Model Korbel and Benedict (2007) defined a project management maturity model (PMMM) as the systematic framework for a project management team to perform benchmarking and deliver value to the modern organization. The maturity model is basically an assessment approach by which an organization compares its project performance with the industry’s best practices and prepares a structured pathway to improve the existing processes. Korbel and Benedict (2007) pointed out a number of benefits associated with project management maturity models (PMMM) such as cost saving, increase in preciseness of pr oject schedules and improvement of quality of the project. Research scholars have found a positive relationship between project performance and project maturity level. The relationship can be depicted in the following manner; Figure 1: Relationship Between Project Maturity Level & Project Performance (Source: Korbel & Benedict, 2007) The above mentioned model is showing that the performance of a project increases as its maturity level increases. The researcher believes that there cannot be one PMM model which can be used in all projects. As a project manager, the researcher has recalibrated the PMM model in order to satisfy the interests of the stakeholders of the project. For example, a PMM model for a health and safety project differs significantly from that for a construction project.