THE INFLUENCE OF PROJECT MANAGEMENT PRACTICES ON ORGANIZATIONAL PERFORMANCE
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Abstract: This research examines the influence of project management practices on organizational performance, aiming to: 1) identify key project management practices that impact performance, 2) evaluate the relationship between project management and organizational success, and 3) recommend strategies for optimizing project management practices to enhance performance. A survey design was chosen to collect data from project managers and organizational leaders. Using Taro Yamane's formula, a sample size of 365 respondents was determined, ensuring a 95% confidence level and a 5% margin of error. The study was conducted in the banking sector in Lagos, where effective project management is crucial for performance. The reliability coefficient score of the survey instrument was 0.88, indicating high reliability. Findings revealed that best practices in project management, including standardized processes, effective communication, and continuous improvement, significantly enhance organizational performance. Recommendations include integrating project management practices with organizational strategy, providing continuous training, and promoting a culture of excellence in project management.
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