Logical Framework Approach and the Way to Conceptualize Project Proposals

In order to have successful projects, companies are using different project management methodologies. Aim of this research is to prove that with implementation of the LFA, projects will have more probability to succeed; failure of the projects will be identified in early stages of the project and products will be delivered with agreed time, quality and cost. Literature used for this research is PMI, OGC, APM and academic journals. Findings from these research show that there is no evidence of proper risk analyze, decisions during project life cycle are ad hock and that there is not any standard in place for project management. Reasons for project failure are very similar with reasons which are identified by PMI. Recommendations which are coming from this research are supporting and justifying implementation of standardized project management methodology and recommended project management methodology. From this research are identified some questions, which are challenging bodies of knowledge and in a same time are offering base for further researchers.