Why is Project Failure Acceptable?

I often say that project management is in my DNA.  For me, it’s a lifeskill; not just a profession. That bit of insight might help you understand my passion in the pursuit of excellence.

The Project Management Institute (PMI) defines a project as “a temporary endeavor undertaken to create a unique product, service or result.” Project management success is measured by the ability to deliver expected results while managing budget (money set aside for the endeavor), time (estimated time to complete the project) and scope (what must be done to produce the expected results with quality). While the project management process is considered a professional methodology, most of us operate under these same constraints in our personal endeavors as well. Hence, project management as a lifeskill.

The concept is simple and doable. Project management principles and disciplines are well-established and applicable to all types of endeavors, regardless of size and complexity. Success is obtainable. So why is project failure acceptable?

While pondering that question, here are a few statistics to consider:

•  The United States economy loses $50-$150 billion per year due to failed IT projects. (Source: Gallup Business Review)
• Fewer than a third of all projects were successfully completed on time and on budget over the past year. (Source: Standish Group)
• 75% of business and IT executives believe their projects are “doomed from the start.” (Source: Geneca))
• 80% of project management executives don’t know how their projects align with their company’s business strategy. (Source: Changepoint)

A few of the most common project challenges:

• Poor Strategic Planning
• No Business / Technology Alignment
• Ineffective project sponsorship
• Insufficient requirements gathering and scope definition
• No formal Portfolio, Program and Project Management Methodology
• Lack of “Industry Best Practice” tools and processes
• Under-staffed and/or under-skilled resource pool
• Inflexible technologies
  • Poor scalability
  • Lack of interoperability

Some of the mysteries behind Business and Technology MIS-alignment:

• Insufficient visioning and planning
• No “B/I” Governance
• Poor communication between business and IT executives
• Lack of flexibility and collaboration
• No vendor management/oversight

So, why is project failure acceptable?  It is NOT!!!

At iSeek Solutions, we understand the complexities of today’s business and IT challenges. Our experts provide tools and facilitate processes you need to choose the best methodologies to meet your business and IT goals. We partner with you to:

• Visualize, articulate and plan successfully
• Manage multiple demands during times of change
• Facilitate collaboration
• Optimize resources

Project failure is not acceptable! Let iSeek Solutions help you ensure project success in 2017 and beyond.  Contact us today. Subscribe to our blog and stay tuned for future insights.