You are in the minority if your projects are always completed on time and meet their objectives – Gallup surveys show that only 2.5 percent of businesses report a 100 percent success rate. 55 percent of all IT projects fail, according to Innotas.
What Causes Project Failure?
Recognizing why so many projects fail is the first step toward resolving them. Here are a few of the most common ones:
Inadequate funding
Unrealistic deadlines that management refuses to re-evaluate, even when the project begins to fail.
Failure to measure key objectives or employ a system capable of detecting early warning signs
Inadequate communication between management and the rest of the team
a lack of knowledge among team members
A focus on logical project management and techniques that ignore social and emotional aspects of a project, such as an employee engagement
How to Restore Order to a Project
Step 1: Swallow your pride and put a halt to the proceedings.
Don’t stay in denial. Speak up as soon as you suspect a project is veering off course, even if it means admitting fault. Avoid the temptation to point the finger at others. A collaborative approach is the best way forward, so do everything you can to maintain positive working relationships.
Keep project materials secure and away from employees—allowing anyone to do additional work on the project will only cause confusion. Inform everyone involved that the project has been put on hold for the time being.
Be completely truthful. If you are unsure what went wrong, inform your team(s) that you are conducting an investigation and will keep them updated.
Step 2: Examine the Root Causes
Examine the project as a whole and identify the underlying issues. Begin by going over the list at the beginning of this article.
Was the project, for example, properly funded? Were the deadlines unreasonable? Do you have the necessary technology? Are the right people on your team(s)? Has the project’s scope grown gradually over time to the point where your resources can no longer meet demand? If you notice a pattern of failed projects that indicate your team members’ skills aren’t where they need to be, begin researching your training options. A refresher on the skills required to be a project manager today could be just what your team needs to turn things around. Consider online training programs such as the Digital Project Manager or PMP Certification Training.
Ask a lot of questions, solicit feedback from as many people as possible, and document your findings. Trust My Paper can teach you how to write a comprehensive report that analyzes any project.
Step 3: Call a meeting with all parties involved.
The next step is to hold a meeting to decide the project’s ultimate fate. Senior management, line managers, team leaders, clients, and anyone else with a stake in the outcome should all attend this meeting.
Bring as much information as possible about why the project is failing, as well as potential alternatives that would still meet your business objectives, to the meeting.
If no one is willing or able to evaluate the project, consider hiring an outside consultant. You could also seek the opinion of an unbiased person from another department who has no personal stake in the project.
Step 4: Collaborate to Determine Whether the Project Is Worth Saving.
Even if your company has put a lot of money into the project, it may not be recoupable. Avoid the sunk cost fallacy, also known as “throwing good money after bad.”
Take a step back and consider the problem objectively. This entails confronting yourself and others with difficult questions. Is the project, for example, in line with your overall business objectives? Is it beginning to have an impact on other, more important work? Is there any way you could save a portion of the project for future use?
Do not adjourn the meeting until the group has reached an agreement. If this necessitates another meeting, so be it. It may take a few days to discuss all of the options in the case of large projects.
Step 5: Delegate New Tasks and Raise Morale
If everyone agrees to reorganize the project rather than cancel it entirely, the next step is to determine who will be in charge of putting the new plan into action. Create a detailed schedule of tasks to be completed as well as key deadlines that must be met.
When a project shows signs of failing, it’s natural for a team to feel discouraged. Your job as a manager is to increase their engagement and maintain team cohesion. Morale-boosting activities, such as a daily session in which all members share their accomplishments, can assist employees in feeling more motivated. Relationships can also be strengthened through social activities.
Step 6: Keep an eye on the situation. Regularly
Maintain vigilance! The last thing you want is to put together a solid rescue plan only to have the project run into more problems. Measure the output of your team with care. Using regular meetings, project management software, or both, hold them accountable for their actions.
Read about the four best team project management software programs.
Step 7: Perform a Post-Mortem
Finally, make a point of learning from difficult projects. A post-mortem will not only make you feel better in the short term, but it will also help you avoid making the same mistakes in the future. Create a summary document of your findings and distribute it to everyone involved in the project.
