Published Paper Details:

Commercial construction sector is being looked upon as an important investment gate way in the new millennium. A proper project management approach to handle the immense magnitude of work and innumerable activities involved in such construction works, is the need of the hour. While the PMBOK approach, which is popularly used in Indian construction sector, provides a guideline for managing these projects, still the projects get delayed. The stakeholders are required to face a variety of uncertainties which further affects successful completion of the projects. PRINCE2 (Projects In Controlled Environment) technique is one step improvement over the existing approaches and is widely applied to various sectors in UK. The present work attempts to explore the feasibility of applying PRINCE2 technique to commercial projects in Indian context so as to improve the current state of management. Project success is measured by determining the Knowledge Performance Index (KPI) for as elected commercial project in Pune city. Measures to improve successful completion of the project are suggested through careful analysis of parameters affecting project success, meticulous data collection, key observations on the site, and detailed study of PRINCE2 technique. Implementing these measures will certainly help in delivering the project within the stipulated time while not compromising on the cost and quality aspects.