The value of virtual project management in the Albanian market

Abstract The growth of the internet and the development of collaborative software have introduced a new dimension of project management. This paper explores the literature evaluating virtual project management and virtual teams to determine the extent of new technologies affecting projects with members in distributed locations. It has been found the new communication channels offer opportunities for participation, but it is even more difficult to manage a virtual team than a team on site. The ever-increasing importance of projects in the market is leaving businesses looking for better integration techniques to virtualize their project environments. Through virtualization, organizations can have positive impacts on communities across geographic boundaries and resource constraints. Virtual project management is a discipline that embodies the potential of connection when talented are geographically dispersed to achieve shared project success. Available research confirms that this is a challenging goal. Factors like time difference, different cultures, or lack of face presence results in added complexity to managing virtual teams. However, if one is able to overcome these obstacles, the results are promising. Empirical research emphasizes that the demand for VPM is constantly increasing, and it even seems clear that there is no going back