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Projectized organisation means that people are flexible, and they do not have a fixed management structure, which would feel loose a bit, and would confuse employees about responsibility and authority.
This type of structure applies on companies that have unique services/products, consulting and construction are two examples, where it would be better to have a structure like this, and it could be cheaper, as you do not have rigid functions, but may sometimes incur more costs, especially if support functions are per project.
The big challenges is the behavior of the people, the people in projectized organization feel they have no home.
It depend the kind of the business.
The challenges of the project are: avoiding delays in the construction management starting from conceptual design, permits for construction, the general project, the construction itself a certain structures as well as coordination of all participants in the construction and in the end cost control and quality construction as well as the time. All this to ensure quality project organization and supervision over him