Smart Project Management Systems Enabled by Financial Technology: A Strategic Perspective
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Abstract
The construction and infrastructure industries of Jordan remain a major contributor to the national GDP, and in line with the Economic Modernization Vision and Jordan Vision 2025, are still plagued with chronic issues such as cost overruns, project delays and fragmented financial controls. Conventional project management systems find it difficult to provide live visibility, proactive risk management, and a financial smoothness in a world of regulatory complexity and low levels of digital maturity. This analytical review explores the possibility of the use of Financial Technology (FinTech) in helping Smart Project Management Systems (SPMS) to fill these gaps in a Jordan-specific strategic perspective.
Recent statistics of the Jordanian banks show that the implementation of FinTech will positively affect the financial performance through efficiency and innovation directly. The opportunities and existing challenges in the banking sector as reported in regard to the digital transformation strategies also mirror the same challenges that are experienced in the project environment. The introduction of the FinTech to the strategic management is consistent with the sustainable development goals, particularly in the building business sphere where AI-contributed risk management has an impressive future. It would be prospective to automate the operation cost management and contract management in the Jordanian supply chains with the help of blockchain and digital twins, and culturally compatible AI-FinTech solutions would facilitate the integration of inclusivity in innovative processes.
The study will identify twelve determinant factors that predetermine SPMS-FinTech integration in Jordan and propose a Multiple Layers Feedback Framework (JoSPMS-Fin) that has nine layers of protection and strategic alignment. New risk assessment measures are introduced to assist practitioners to conduct comprehensive assessments. The framework ensures that design moves to operations in an iterative fashion with the principles of Strategic by Design being incorporated on the first level. This study based in Jordan provides a powerful strategic terrain and roadmap to policymakers, project managers, financial institutions and SMEs to use the application of FinTech to meet their project performance, financial sustainability, and national development targets.