Open Access

Temirbek Orozbaev

• The ever increasing dynamics and complexity of business environmentnecessitates flexibility and, at the same time, good control over the businessprocesses. Project-based structuring of businessThe ever increasing dynamics and complexity of business environmentnecessitates flexibility and, at the same time, good control over the businessprocesses. Project-based structuring of business activities is often used toaccomplish challenging tasks that have clear objectives, strict deadlines andrequire a multidisciplinary approach. At the same time a big proportion ofprojects fail to deliver the promised results and if they do so, then with longdelays and huge overdrafts, leading to major financial losses and credibilitydamage. The paper reviews and analyzes methods used for controlling theimplementation of projects. Each of the major controlling instruments is shortly described and then analysed for appropriateness and effectiveness based on the empirical evidence. Project controlling includes all activities related to the selection of a project, measuring its performance, taking corrective action, evaluating effectiveness, ensuring plan compliance, responding to risk event triggers, monitoring project activity, ensuring information flow and coordination. Project controlling aims to ensure a successful implementation of a project by reducing variances between the plan and the actuality. This requires a continuous control over the project processes and alteration of project activities, including scope, schedule, and cost management. A multitude of techniques and instruments is used to ensure successful project controlling. Each organization must find a set of techniques suitable for specific challenges it faces. A successful project controlling ensures that organizational assets (physical, human, and financial) are utilized in the most efficient and effective way. Project controlling needs to accompany project management from the point of conceiving a project and till its final completion.…