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

Most Projects fail to Deliver

Most Projects fail to Deliver

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)

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