5 Reasons Projects Fail
5 Reasons Projects Fail
Projects Fail
How To Ensure Your Team Is Set Up For Success
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Understand the difference between goals
and objectives
Think of a goal as the outcome you’re working toward, while an
objective is a step you take to reach that goal. Objectives are
equally imperative to project success, especially in companies
with shifting priorities. Here are some key reasons why:
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Establish clear deadlines and roles
A Gallup report found only 33% of people know what is expected
of them from their jobs. This lack of clarity is a major contributor
to project struggles and failure.
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2 Poor Progress
Tracking &
Management
Only 23% of organizations use standardized
project management practices across the
entire organization.
- Project Management Institute (PMI)
Six years later, a review revealed the issue had not improved: A study
by Nintex showed that 49% of 1,000 employees surveyed said they
struggled to locate documents related to their work, and 43% also
struggled with issues of document sharing and document approval
requests.
With a good tracking system in place, it’s nearly impossible for unfinished
tasks or missed deadlines to slip through the cracks unnoticed.
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Here are some specific ways of measuring progress:
Scope creep
A 2017 PMI report found that nearly 50% of business projects
experience scope creep. Management, clients, or even vendors are
known to add requirements to a project after it is already underway.
But with a proper tracking system, you can tell which add-ons are
realistic and which ones require additional time or budget.
3 Weak Communication
Ineffective communication is the primary contributor to
project failure one third of the time, and had a negative
impact on project success more than half the time.
- Project Management Institute (PMI)
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What’s a team to do?
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3 Map out a chain for reporting
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4 Lack of
Accountability
Only 33% of people know what is expected of them
from their jobs.
- Gallup report
These terms are often mistaken for meaning the same thing—
they don’t. Knowing the difference between them can be the
difference between a successful project and a failed one.
Set Expectations
Communication is an important aspect of creating
accountability with your team. That starts with setting and
managing expectations for all involved, from individual
contributors to managers. It is vital that expectation
are managed so that there are few mismatches or
misunderstandings regarding responsibilities or how
performance of those responsibilities will be measured.
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5 Unreliable Estimates
While cost estimates are tedious and typically filled with uncertainty,
they are vital to a project’s success. Unreliable estimates, whether
for cost, scope or time, are among the largest reasons why projects
don’t deliver on their objectives.
When projects go way over estimate, it’s not only frustrating for
stakeholders and project managers, it can harm a company’s
credibility. And in some cases, it creates a sense of distrust among
management and project leaders.
The first step for successful cost estimating is finding the right
person to take on the responsibility. Experience matters, as less
experienced planners tend to be overly optimistic while more
experienced managers will build in the necessary buffer for when
something inevitably goes wrong.
Project managers typically follow one of a few tried and true methods
to create estimates that are as reliable as possible.
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Here are three common methods used:
1 Parametric Estimation
This is one of simplest methods that estimates projects on a
quantitative basis, such as dollars per square foot. But because
not everything can be easily quantified, there can be gaping holes
in the estimate.
Analogous Estimation
2 Often used early on when not much is known about a project, this
method relies on historical information of past projects. Using time
or cost estimates from previous projects is a quick and relatively
easy method though not always the most accurate.
3 Bottom-up Estimation
The most accurate but most time-consuming method.
It requires breaking down each project task into smaller
components, such as individual deliverables. The The most accurate estimates:
estimates for these smaller chunks, often created by When calculating cost and time
various team members, are combined to create the estimates for a deliverable, a
three-point estimation formula
estimate for the entire project.
where each team member
provides their pessimistic,
optimistic and best-guess
estimates will help achieve the
most accurate results.
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Kintone. One solution
to get work flowing.
Make sure your projects are set up for success
by using Kintone to help with your project
management. Keep everyone on the same page
with our centralized workplace platform—easily
assign tasks, automate workflows, and bring
together all your data and team communications.
Learn How
Video Tutorials:
Watch our tutorial videos on YouTube
to learn more about Kintone:
www.youtube.com/user/kintoneglobal
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www.kintone.com
DISCLAIMER: The information contained herein is, to the best
of our knowledge and belief, accurate and current as of its publication.