The Human Factor: How to Consider it in Decision-Making for Successful Management – Avestisyan

4:00 pm -4:35 pm

Thursday, May 7, 2020

Breakout Room 4


Projects in all industries both public and private need proper management to be successful. Proper management may sound easy at a first glance, but in practice it has many difficulties as unforeseen events and actions that turn the project to a success or to a failure. To some extent the difficulties in the projects are related to the human factor as level of uncertainty or lack of experience, understanding or simply stated the lack of knowledge for certain situations. These are the voids in the management practice that if filled wisely may improve the potential of successfully project delivery. Depending on a project the issues may starts right from the initiation phase of the project and carry over the rest of the project phases. Stakeholders, technical issues, financing, contracting, risk management, negotiations, procurement are some of the important areas for a careful consideration. The question is: How to analyze these for informed decision-making and how to count for the human factor or preference in such decisions? This paper proposes the application of the management science techniques for quantitatively assessing and addressing the human factor impact on project management decision-making that can allow to plan in advance and maximize the chances of success.

PMI Talent Triangle: Strategic and Business Management