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The modern day business environment is very complex and entails vast majority of organizations that are dynamic. It is, therefore, necessary for organizations to enhance efficient decision making, knowledge- transfer and coordination. There are key initiatives to improve productivity and counter competition in society. This article provides an understanding of key factors to consider to attain success in the business environment. The project planning, team effectiveness, cross- cultural proficiency, technical project management, and stakeholder communication are factors for project team success. The article briefly discusses the problems associated with failure of Airbus A380 project. The cause of failure to the project is due to the inefficient management style and differences in the corporate culture. The nature of work currently is complex and full of uncertainties. There is a continuous need for knowledge transfer and coordination in the organization. The members of several diverse sectors are brought together to share information concerning the developments in the society. The projects are always classified into three groups; Challenged, failed or successful. These groups are organized according to service delivery, features, and functions of the organization. However, the cost of poor project leadership is a significant challenge to the organization. The losses realized by firms from project failure are large such that it overruns the original budget of the project. The five competencies: Project planning, team effectiveness, stakeholder communication, technical project management and cross- cultural proficiency form the basis of success and failure. They are the
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