Influence of Effective Reward Systems on Agile Project Success in the IT Industry

Doctoral Thesis / Dissertation from the year 2024 in the subject Business economics - Project Management, grade: A, University of Edinburgh (University of Edinburgh), course: Project Management, language: English, abstract: The primary aim of the research is to explore the impact of efficient 'reward systems' on 'agile project' achievement in the 'Information Technology' (IT) industry. Team-based reward systems are considered as systems of rewards and incentives that inspire team members to collaborate towards shared goals. When the members of the team are able to attain their set objectives, then they are rewarded. In situations when the members of the team fail to attain their set objectives, then they do not receive rewards. This is a qualitative study that involved the application of 'Systematic literature review' (SLR) framework; this framework is vital based on the aspect that it enables the researcher to determine, assess as well as interpret existing study from other investigators or researchers that are suitable to a precise study question or area of focus. Implication: The findings of the study possess practical value as they provide a basis for improving the team's effectiveness and project success in agile IT projects. Through exposure to the influence of performance systems on team members' motivation, performance, and satisfaction, the study may provoke project managers and IT companies to optimize and improve their project results. Team-based reward systems are essential in agile projects as they enhance collaboration and communication. Rewarding a group of individuals for their collaborative efforts increase their willingness to improve their collaborative prowess. This has a positive impact on their communication, as with enhanced collaboration, their communication also enhances. The systems also up-surge inspiration and engagement; implementing a reward system that recognizes team contributions can improve employee motivation, job satisfaction, and loyalty.