Effect of schedule management plan in project management worth using structural equation modelling

Abstract

With the growing digitalization and the need for customers to have more personalized services available, there is a constant need to innovate and fulfil the demands of customers. However, this burden has contributed to further worsening the schedule management for the service companies. Customers now are demanding more personalized service but without having any compromise on the quality and time of delivery. This resulted in creating the need to have a schedule-driven management plan designed. Despite this advantage, there are very limited studies available that even focus on the concept whereas not any study works towards understanding its contribution in affecting project management for service companies. To overcome this, the study aims to assess the perception of 200 employees and 10 managers for understanding a schedule management plan and its impact on project management worth. The employee’s perception evaluation via structural equation modelling revealed that there is no direct influence of schedule management on project management worth but via different factors and strategies the influence could be derived. Managers’ perceptions validated the findings and provided insight that strategies like the building of a cloud-based platform or predictive modelling should be designed for better schedule management plan development.