It is an unfortunate fact that the majority of IT projects fail. Depending on what you read that number can be up to 70% of all projects. An estimated 15% of those failed projects fail badly enough as to potentially jeopardize the very existence of the business.
Projects fail for many reasons. They usually don't fail due to bad technical project management. In our experience, most projects don't ever really fail, they just never get done. This situation is even worse than cutting a project off as a failure and taking the write-off. Projects that never end represent a constant drain on the IT team, your business partners and your company budget.
If your IT projects are experiencing any of these symptoms you may be headed to a failing, or never-ending project:
- Business Partners are constantly changing requirements
- Key stakeholders are not attending meetings regularly (or at all)
- Decisions are not being made
- The project schedule is not being reviewed regularly
- There are no easily accessible lists of project risks, issues and constraints
Any of these symptoms are very easy to check and can be turned around with the right approach.
The P5 Approach to rescue involves many aspects of our other service offerings. The first is a rapid assessment that includes current processes used for delivery, roles and responsibilities review, individual assessments and stakeholder assessment. What you can expect from this approach is a realistic assessment of your likelihood of successful delivery, estimated cost to complete and our candid recommendation regarding whether you should continue or halt the project. Either way, the risk management and control is restored to the sponsor and key stakeholders. Our approach also includes strong communications management to help with the messaging regardless of planned direction.
We can't save them all and in many cases the best option is to stop the bleeding. How those decisions are communicated to the organization and socialized are critical to your political future within your organization. We offer complete communication and coaching to support this should it be necessary.
Call P5 if you are concerned about your projects' performance. A free phone consult could make the difference between success and failure.