These days, many companies are no longer content to market their products and services on a national level alone; with increasing frequency, they are turning toward the world market as well. The dynamics and conditions at the global level are constantly in flux, making unstable business environments unavoidable and reiterative customization and realignment necessary. Accompanying these variable dynamics at the global level are two other factors: tighter deadlines and a greater number of international collaborations. The logic of global expansion means that ever more employees are working together with colleagues from other countries on projects they need to finish ever more rapidly.
Ensuring that international projects can be realized efficiently and successfully requires rigorous and precise project management. And ensuring rigorous and precise international project management requires knowledge of intercultural differences, experience in intercultural communication as well as good collaboration and team development. Most problems in intercultural projects do not arise because of wrong objectives or management techniques, but because of intercultural misunderstandings.
Objectives
HSH Nordbank AG assesses projects based on compliance with planned levels of budget, time, and quality. Unfortunately, actual results often deviate significantly from target figures. This is especially the case with international projects. The question thus arises whether such variations result from intercultural differences and, if so, how project managers might diminish the likelihood of their occurrence—or even use them to their advantage.
The aim of this thesis is to highlight the significant role played by cultural differences in international projects and to evaluate the impact of those cultural differences on the international projects of HSH Nordbank AG. After compiling and evaluating the opportunities and risks associated with cultural difference, I will then recommend several courses of action, outline a target concept, and assess its economic benefits.
Scope
Due to the limited scope of this thesis, I will be unable to address all the aspects relevant to project management. At present time, the teams are predominantly composed of members from Germany, the USA, England, Singapore, and Denmark. For this reason, I will focus on these cultures in particular.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Objectives
- Scope
- Thesis Structure
- Presentation of HSH Nordbank AG
- Theoretical Foundations
- Project Management
- Project
- Management
- Project Management Tasks
- Classic Project Management
- Phase I: Concept
- Phase II: Planning
- Phase III: Controlling
- Phase IV: Termination
- Success Factors
- Cultural Dimensions
- Power Distance
- Individualism / Collectivism
- Masculinity/Femininity
- Uncertainty Avoidance
- Long-Term Orientation
- International Comparison
- International Project Management
- Management Style and Motivation
- Cultural Preparation
- Team Analysis
- ERPG Concept
- Impact of Multiculturality
- Chances/Opportunities
- Risks/Disadvantages
- Status Quo Analysis
- Project Management at HSH Nordbank AG
- Management Concept
- Method and Approach
- International Projects
- Intercultural Differences
- Hofstede's System of Cultural Classification
- Interview Findings by Nationality
- Germany vs. USA
- Germany vs. Great Britain
- Germany vs. Denmark
- Germany vs. Singapore
- Human Resources Development
- Language Training
- Project Management Training
- Intercultural Training
- Target Concept
- Unifying International Project Management
- Project Management Departments within the Branches
- Worldwide Training in Project Management
- Promotion of Cultural Diversity
- Change in Management Concept
- Development of Culture-Oriented Methodologies
- Cultural Preparation for International Projects
- Language Training
- Intercultural Training
- Team Development
- Team Development Workshop
- Match Set-up
- Economical Evaluation
- Benefits
- Material Benefits
- Non-Material Benefits
- Costs
- Unifying International Project Management
- Language and Cultural Training
- Team Development
- Calculated Key Figures
- Summary
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This diploma thesis investigates the opportunities and risks of international project management, particularly focusing on the impact of intercultural differences. The study examines these aspects within the context of projects undertaken by HSH Nordbank AG, aiming to offer practical recommendations for improving project management practices in a multicultural environment.- Impact of intercultural differences on project success
- Opportunities and risks associated with international project management
- Cultural dimensions and their influence on project management styles
- Analysis of current project management practices at HSH Nordbank AG
- Development of a target concept for unifying international project management within the organization
Zusammenfassung der Kapitel (Chapter Summaries)
- Chapter 1: Introduction - This chapter sets the stage for the thesis by defining the research objectives, scope, and structure. It outlines the motivation behind the study and highlights its relevance to the field of international project management.
- Chapter 2: Presentation of HSH Nordbank AG - This chapter provides a brief overview of HSH Nordbank AG, its business operations, and its international presence. It serves as a backdrop for understanding the context of the research.
- Chapter 3: Theoretical Foundations - This chapter lays the groundwork for the thesis by presenting key theoretical concepts related to project management and cultural dimensions. It discusses various models and frameworks that are relevant to the study.
- Chapter 4: Status Quo Analysis - This chapter analyzes the current project management practices at HSH Nordbank AG. It examines the organization's management concept, methodology, and approach to international projects. The chapter also explores the impact of intercultural differences on project outcomes, drawing on both Hofstede's cultural dimensions and interviews with individuals of different nationalities.
- Chapter 5: Target Concept - This chapter proposes a target concept for unifying international project management within HSH Nordbank AG. It focuses on promoting cultural diversity, providing cultural preparation for international projects, and fostering effective team development.
- Chapter 6: Economical Evaluation - This chapter evaluates the proposed target concept from an economic perspective. It analyzes the potential benefits and costs associated with its implementation, presenting calculated key figures to support the analysis.
Schlüsselwörter (Keywords)
This diploma thesis explores the field of international project management, focusing on the impact of intercultural differences on project success. Key areas of focus include cultural dimensions, Hofstede's cultural classification system, project management methodologies, international project management practices, cultural preparation, team development, and economic evaluation.- Arbeit zitieren
- Diplom Kauffrau FH Pamela Wittenberg (Autor:in), 2007, International Project Management - Chances and Risks and the Impact of Intercultural Differences on Projects of the HSH Nordbank AG, München, GRIN Verlag, https://www.grin.com/document/169585
