Most Projects fail to Deliver - PM 360 Consulting
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Most Projects fail to Deliver

Most Projects fail to Deliver

25 Mar Most Projects fail to Deliver

Posted at 01:53h in Project management Simplified by
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Most Projects fail to Deliver

Recent research conducted by credible companies such as the Standish Group, McKinsey & Company, Gallup, Geneca, and PMI, all point to very poor track track in project success! Here is a synopsis of their findings. Chances are that your projects are suffering from the same underlying root-causes of failure.

The Standish Group 2015 CHAOS Report* showed that out of all 50,000 projects in the study, 71% failed to meet these three criteria: on time, on budget, and with satisfactory results. The problem is even higher for big projects. Medium-sized projects failed at 91% and large projects at 94%.

An article in InfoQ explains the Standish Group CHAOS survey results. It shows that project failures come from the following five (5) areas:

  • Lack of executive support. Financial and emotional backing is missing.
  • Missing emotional maturity. Behaviours of how people work together is weak.
  • Poor user involvement. Decision-making and information-gathering process is not there.
  • No optimization. Structured means of improving
  • No optimization. Structured means of improving business effectiveness is not executed.
  • Not enough skilled staff. Highly proficient people are promoted or retire.

 

Top Seven Project Management Statistics on Failure: 

  1. 70 percent of projects fail. [source: 4 PM]
  2. 17 percent of IT projects go so badly, they threaten the existence of the company. [source: McKinsey & Company in conjunction with the University of Oxford]
  3. Only 2.5 percent of companies successfully complete 100 percent of their projects. [source: Gallup]
  4. 57 percent of projects fail due to breakdown in communications. [source: IT Cortex]
  5. 73 percent of respondents admit that their projects are either always or usually “doomed right from the start,” including 27 percent who always feel this way. [source: Geneca]
  6. 75 percent of respondents lack confidence in project success. Fuzzy business objectives, out-of-sync stakeholders, and excessive rework are key culprits. [source: Geneca]
  7. Only 26 percent of all projects succeed. [source: PMI]

 

According to Dick Billows at 4pm.com, Organizations that consistently succeed with projects perform well at every level in the project management process:

  1. They control the initiation of projects; planning, approving and monitoring projects based on the business value those projects produce.
  2. They manage the pool of project resources just as they manage their capital budgets; allocating people’s time and money to projects based on the payback.
  3. They follow a consistent methodology for all projects; holding people accountable for measurable achievements.

 

(https://www.linkedin.com/pulse/most-projects-fail-deliver-bartley-joseph)