The Impact of Virtual Team Characteristics on the Success of the Project

Current technological advancement along with the global business integration allowed to expand the traditional cooperation of the project team. This trend gave companies the ability to organize and implement international projects. Moreover, modern digital technologies contribute to effective communication and coordination of project tasks from anywhere in the world, which allows you to perform international projects virtually. The transition to implementing international projects virtually allowed companies to gain a number of competitive advantages, such as access wider access to knowledge, skills and abilities of staff. In addition, working virtually, companies have been able to reduce their expenditures. However, existing studies do not answer the question of how the characteristics of the virtual team environment are related to the success of projects. In addition, there is currently no unified tool for monitoring the environment in virtual teams. Since most studies on this topic do not allow us to draw concrete conclusions about the impact of environment characteristics in virtual teams, the purpose of the work was to study the impact of the characteristics of the virtual project team environment on the successful implementation of the project, followed by the development of an environment diagnostics tool. The purpose of this study was achieved through the following objectives: 1. Analyzing current studies of virtual project teams; 2. Identifying of the main characteristics of the virtual team environment; 3. Defining the method of evaluating characteristics in relation to the success of the project; 4. Compiling a survey, which was attended by 120 respondents who performed projects as part of virtual teams 5. Verifying survey’s results through factor analysis, which was followed by the construction of a regression model 6. Developing an algorithm for monitoring the environment in virtual project teams 7. Examining the designed algorithm in the case of an IT-project The designed tool can be used to monitor the environment in a virtual team, thereby increasing the ability to diagnose problems. This allows monitoring changes in the team environment and responding quickly to them, and also boosts the chances of a more successful project execution.