Internet changed every business practice. It provided a fast, interactive and customized new medium, which allowed instantly to browse, purchase and track products and services online. During this period low cost project management software became available, that made projects management technique more accessible (Azzopardi, 2003 citied from O’Sheedy, 2012). As the result, the Internet permits organizations to be more productive, more efficient and more customers oriented. This period is shortly categorized as Production Center Human resources. The best examples of the projects undertaken during this period are England France Channel and Space Shuttle Challenge project. Both of them introduced the need to coordinate multicultural and multilingual
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Management began to believe that there must be strategic planning process for sustained project management growth. Governmental organizations, from the other side, acknowledged and stressed the importance of project management techniques. World Bank in 1993 issued a report, in which it stated the figures of given away loans to developing countries for more than $300 billion over the last fifty years. It also highlighted that there had been a dramatic rise in a number of failed projects around the world. Lack of integrated approach to managing the projects was cited as one of the major causes of the failure (Badiru & Simin Pulat, 1995 citied from O’Sheedy, 2012). This was the beginning of modern era of the project management that was called creating a new environment due to the significant amount of development in the field (O’Sheedy, …show more content…
In the practice, project management gained the high acknowledgment in different spheres and became a flexible methodology adapted to diverse businesses practices. Thus, the basics of PM models were slowly introduced to a smaller organizations and governmental institutions with an aim to improve the work efficiency and reduce time and cost of project realization. As the result of high interest in the topic, the new theories were developed, such as Agile Project management, Project management for Event organization and Euro Project Management, for the organizations that work with the European fund and grants. Consequently, the demand in the specialist of the discipline were raising, causing the increase in offers of professional training, academic courses and workshops that target further spread of the concepts of the project management. Use of internet and intranet increased in 2003 and 2004. Virtual project teams and virtual project management became more common in this era. As project management continuous to grow and
Management began to believe that there must be strategic planning process for sustained project management growth. Governmental organizations, from the other side, acknowledged and stressed the importance of project management techniques. World Bank in 1993 issued a report, in which it stated the figures of given away loans to developing countries for more than $300 billion over the last fifty years. It also highlighted that there had been a dramatic rise in a number of failed projects around the world. Lack of integrated approach to managing the projects was cited as one of the major causes of the failure (Badiru & Simin Pulat, 1995 citied from O’Sheedy, 2012). This was the beginning of modern era of the project management that was called creating a new environment due to the significant amount of development in the field (O’Sheedy, …show more content…
In the practice, project management gained the high acknowledgment in different spheres and became a flexible methodology adapted to diverse businesses practices. Thus, the basics of PM models were slowly introduced to a smaller organizations and governmental institutions with an aim to improve the work efficiency and reduce time and cost of project realization. As the result of high interest in the topic, the new theories were developed, such as Agile Project management, Project management for Event organization and Euro Project Management, for the organizations that work with the European fund and grants. Consequently, the demand in the specialist of the discipline were raising, causing the increase in offers of professional training, academic courses and workshops that target further spread of the concepts of the project management. Use of internet and intranet increased in 2003 and 2004. Virtual project teams and virtual project management became more common in this era. As project management continuous to grow and