Five independent variables which are factors related to project (FRO), factors related to leadership/manager (FRL), factors related to team members (FRT), factors related to project organization (FRPO) and factors related to environment (FRE) are regressed with four dependent KPIs which are iron triangle, organizational benefits, benefits information system and stakeholder’s benefits. Out of five, four independent variables show association with at least one dependent variable, the independent factor that does not show any association was FRE. The significant results taken at p< 0.10 of multiple regressions are shown in the table 3.
The values of adjusted r² indicate the variation in the dependent variable accounted for by the variation in independent variables. Variations in iron triangle 34.9%, organizational benefits 37.1%, benefit information system 43.1% and 26.9% as explained by the independent variables.
When the regression coefficients were applied in order to develop the regression equation, we obtain the following equations:
Iron Triangle = -29.20 + 6.426* FRP + 6.557*FRT
Organizational Benefits = 1.479 + 0.283* FRL
Benefit Informational System = 0.913 + 0.313*FRT + 0.250* FRPO
Stakeholder’s Benefits = 1.806 + 0.249*FRP
The dependent variables which have more than one association were checked for relative importance of independent variable through β weights. In iron triangle, FRT (β=0.306) have comparatively more importance than FRP (β=0.253). In benefit information system, FRT (β=0.329) have more importance than FRPO (β=0.256).
The findings of multiple regressions suggest that the developed model is statistically valid and has the potential for subsequent development for use. When we put the groups of KPIs and CSFs diagrammatically, we developed the following model showing the relationship between the two for project and project management success as shown in figure 2.
The information obtained from data analysis has revealed new insights about the relationship between the groups of CSF and KPIs. Every KPI group has shown at least one relationship with CSF group and two KPIs groups have shown more than one significant relationship with CSFs groups. The KPIs which have only one significant relationship are organizational benefits and stakeholders benefits. Iron triangle which is currently been associated with the success of the project management has shown significant relationships with FRP and FRT. These two groups of CSFs are associated with project from its conception phase to its closure. The other KPIs group which has shown two significant relationships is benefit information system. It shows relationships with FRT and FRPO.
Iron triangle which is extensively discussed in the literature of project management to measure success of project management has significant relationship with factors related to project (FRP), factors related to team members (FRT). When we take an in-depth...