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The principal goal of this study was to determine the financial and organizational impacts of project management. This study began with the development of a project management maturity model and an analysis methodology to assess the maturity of project management processes. The project management maturity analysis methodology consists of 148 multiple-choice questions that measure project management maturity, and cover 8 knowledge areas and 6 project phases. The maturity model and methodology were then applied by benchmarking 38 different companies and government agencies in 4 different industries. This assessment methodology provides solid and comparative studies on project management practices across industries and companies within an industry. It also provides a set of tools for organizations to use in identifying key areas of opportunity for improvement in project management.

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This paper presents the project management process maturity (PM) 2 model that determines and positions an organization's relative project management level with other organizations. The comprehensive model follows a systematic approach to establish an organization's current project management level. Each maturity level consists of major project management characteristics, factors, and processes. The model evolves from functionally driven organizational practices to project driven organization that incorporates continuous project learning. The (PM) 2 model provides an orderly, disciplined process to achieve higher levels of project management maturity.

Changes in projects are common and may be deleterious or beneficial-whether you see a change as a conflict or a valuable lesson depends only on your prospective. Project changes affect the cost, the scheduling, and the duration of projects, both directly and indirectly. Despite many articles and much discussion in practice and academic literature, there is a lack of information about systematic approaches to manage project change. This paper introduces a comprehensive project change management system that is founded on five principles: (1) promote a balanced change culture; (2) recognize change; (3) evaluate change; (4) implement change; and (5) continuously improve from lessons learned. By applying this project change management system, project participants can minimize deleterious change and promote beneficial change.

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International architectural, engineering and construction (AEC) firms need to decide on the appropriate market entry mode and business strategies when undertaking projects overseas. The objectives of this research are to investigate the effective market entry modes for penetrating China and the effective business strategies for managing projects in China. The research method is based on a structured questionnaire and data were collected via postal survey. Interviews have been conducted to complement the survey. The results show that establishing a wholly owned subsidiary in China is the most effective entry mode. Foreign AEC firms need to adopt a differentiation strategy by providing niche and superior service. They must also pay great attention to customer satisfaction to gain competitive advantage and clinch and manage projects. To succeed in China, foreign AEC firms need to set up a physical office there, to develop a good understanding of local by-laws, understand client requirements better and therefore provide them with a superior product or service.China, foreign firms, international construction, market entry mode, strategies,

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