Communications of the IIMA


Project management as it is known today is relatively new. The concepts and theories of managing projects and teams have developed over the past several decades. A large influence on project management has been in the utilization of information technologies to manage projects and teams. Emergence of Web 2.0 tools has made it easier for companies to conduct projects using virtual teams. This paper reviews the concept of virtual teams and tools available to enhance the virtual team’s ability to communicate, collaborate, and contribute. A review of virtual team development will provide foundation for how risks and trust play an impact on team performance. For these virtual teams trust is a major factor in their success or failure. Another factor impacting team performance is employee satisfaction, their need for networking and how they perceive bonds within their networks.