THE ROLE OF PROJECT MANAGEMENT APPROACHES:ORGANIZATION’S INNOVATION AND COMPETITIVENESS

Abstract

In today's rapidly evolving business environment, organizations are under immense pressure to innovate and remain competitive. The increasing complexity of markets, technological advancements, and ever-changing customer expectations necessitate a systematic approach to managing projects. Project management methodologies, such as Agile, Waterfall, and Lean, are widely adopted by organizations to streamline their processes and effectively implement innovative solutions. However, there is limited research that examines the direct correlation between specific project management approaches and organizational innovation, as well as their subsequent impact on competitiveness.According to the Project Management Institute (PMI, 2017), organizations with mature project management processes tend to perform better in terms of delivering projects on time, within budget, and achieving their intended business outcomes. However, while traditional project management approaches like the Waterfall method focus on sequential processes, more modern methodologies like Agile are gaining traction due to their flexibility and iterative nature, which are conducive to rapid innovation cycles (Schwaber & Beedle, 2002)