The use of Agile methodologies has been steadily growing in popularity in recent years, with many organisations across various industries adopting it to manage their projects. This shift in project management practices has replaced traditional project management styles, and Agile methodologies like Scrum, SAFe, and Kanban are widely used. However, there has been a lack of research into the impact of Agile on project success in the financial industry, specifically in the Netherlands.
This research aims to fill this gap by examining the perceived impact of adopting agile methodologies in technology-driven projects within asset management firms in the Netherlands through a qualitative study using thematic analysis through semi-structured interviews and document analysis. The study aimed to gain insights into the reasons, challenges, benefits, success criteria, and key factors influencing project success in the context of agile implementation. Through interviews with experienced agile team members, valuable insights were obtained. It was found that agile methodologies are not the sole cause of project success, as success is influenced by a combination of factors. Agile methodologies empower teams to adapt and respond to changing circumstances, providing a solid foundation for handling challenges and embracing positive change. The research highlights the importance of having the right people with the right mindset and behaviour in key positions within the organisation. Teamwork and acceptance of other contributing factors are at the core of agile methodologies. Agile provides a framework for effective collaboration and flexibility, enabling organisations to leverage its benefits and improve project outcomes. The findings emphasise the need for alignment between the organisation's culture and the principles of agile methodologies. It is crucial to create an environment that fosters teamwork, encourages open communication, and supports continuous improvement.
The research findings reveal that asset management firms adopt Agile methodologies in technology-driven projects for various reasons, such as increased flexibility, faster delivery cycles, improved collaboration, and better adaptation to changing requirements. However, challenges related to resistance to change, stakeholder alignment, and the need for continuous learning and skill development were identified. Despite these challenges, the perceived benefits of Agile were evident, highlighting its ability to enhance project outcomes. The criteria used to measure project success in technology-driven projects within asset management firms encompass a combination of quantitative and qualitative factors. While meeting project timelines and budgets was important consideration, other success indicators included customer satisfaction, quality of deliverables, stakeholder engagement, and adherence to project goals. This multidimensional approach to measuring success reflects the complex nature of technology-driven projects in the asset management sector. The research identifies several key factors that influence project success in technology-driven projects within asset management firms. These factors include effective teamwork, strong leadership, clear communication, stakeholder involvement, and the alignment of project goals with organisational objectives. The findings emphasise the critical role of these factors in overcoming challenges and ensuring successful project outcomes in the asset management industry. The experiences and perspectives of agile team members shed light on their perception of best practices for using agile methodologies in technology-driven projects. They emphasise the importance of continuous improvement, transparency, and adaptability in Agile adoption. A supportive organisational culture, ongoing training and development, and effective collaboration between team members and stakeholders are identified as crucial elements for the successful implementation of agile practices. These insights from agile team members provide valuable guidance for optimising the use of agile methodologies in technology-driven projects within asset management firms.
The research concludes that agile methodologies, when implemented effectively and supported by the right organisational culture and mindset, can significantly enhance project success in technology-driven projects within asset management firms. It is recommended that organisations invest in developing and nurturing the necessary skills, behaviours, and mindset to fully leverage the potential of agile methodologies. The study contributes to the existing body of knowledge by providing insights into the perceived impact of agile methodologies in the specific context of asset management firms. The findings can guide organisations in making informed decisions regarding the adoption and implementation of agile methodologies to enhance project outcomes.