The tell-tale signs of project failure
Some projects end successfully, and meet the expectations of all stakeholders, however many others fail. When the danger of failure is identified during the project, the project can be recovered before it is too late.
If the key factors to be managed over the project life cycle are not on track, this may result in the following outcomes:
• The planned scope will not be delivered
• Planned schedule will not be met
• Estimated budget is not correct
• Overall quality will not be acceptable
• Stakeholders will not be satisfied
What are the main causes of Project failure?
There are many reasons why projects fail. The top 7 reasons are below:
• Lack of clarity on requirements and project deliverables
• Insufficient planning
• Minimum senior management involvement
• Lack of resources and unclear roles and responsibilities
• Budget and benefits not clearly defined
• Risks and issues not identified or managed
• Changes not tracked or governed correctly
What are the main actions to recover a project?
If a project has been identified as ‘in danger’, it may not be too late to recover the project. The main actions that can be taken to recover a project are:
- Improve project communication
- Re-engage senior management and define roles
- Revisit scope/ schedule
- Change the project manager
- Set up proper governance
- Identify and agree resources needed
- Re-forecast the budget and benefits of the project
What can Olas do to help?
We at Olas have dedicated project managers with many years of experience on project and programme management across many different industries and sectors.
Why not give us a call to discuss your needs and where we can help.
Contact Martina Garvey on +353 (1) 2790020 or email martina.garvey@olas.ie
