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Stochastic Project Management (SPM) practices in Hong Kong and the Pearl River Delta area: a survey

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This paper is a culmination of studies emanating from a survey which has been conducted into the current practices of stochastic project management among organisations within Hong Kong and the Pearl River Delta (PRD) zone of the Peoples' Republic of China (PRC). The study was prompted by the need to identify the concomitant stochastic variables which impinge upon successful project performances in Hong Kong in particular, and the Pearl River Delta area in general, as a prelude towards developing a suitable computer integrated stochastic project management methodology encompassing the key variables as identified. In addition, the study also sought to explore some of the project success barriers which the respondents had encountered individually and collectively during the course of the performance of a project which they had recently completed either in Hong Kong or in the PRD, in terms of various parameters such as access to appropriate computer tools (hardware and software), the computer literacy level of the project managers, and the impact of other emerging technologies. One of the notable outcomes of this study is that the most significant stochastic variables influencing project management success among the 62 respondents involved in the survey are the resources - personal, equipment, materials, funds, etc. - utilised. This leads one to adduce that the factor of resources sharing between a number of activities play a significant role in project performance success in Hong Kong and the PRD. In this paper, these and other results emanating from the study are presented, discussed and some inferences and/or implications for the development of a coherent and pragmatic stochastic project management methodology are drawn.

Keywords: project management, stochastic project management, Hong Kong industries, Pearl River Delta area industries

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