Top 10 Reasons You Must Know why Projects Can Fail Handling projects can be both difficult and easy and majorly depends upon how the following parameters are handled. The problems that arise during the project are worth only 10% however the way we react, forms 90% of the worth which decides the success or failure of the project. Following are the various parameters that decide the future of the project:-
Requirement Gathering and Assessment
This is the prime most stage in any project, understanding the client’s requirement. According to a research, it was found that 99% of the projects that fail are because of the fact that the client’s requirement were never understood properly and as a result, it lead to the progress of the project on the wrong track and hence leads to a disaster. -
Documentation and Tracking
Just like by watching the tip of the iceberg you cannot know its height beneath the sea, similarly unless a project manager tracks down the milestones, chances of the failure of project always exist as everything may seem fine however multiple minute tasks may get piled up leading to delay in the project delivery and hence leading to its failure. A project manager with a PMP certification is trained to track down the minutest of the details. -
Defining Parameters
The other reason for the project failure is the inability of the project manager to identify the right resource for the task. It is very important to assign the tasks to the apt and competent individuals. During the PMP training course role plays are done on how to identify the right resource for the task. -
Leadership
Majority of the projects that fail due to the bad leadership, have a common element of micro management. No individual likes to get micro managed. A project manager should know how to delegate tasks to the leaders at various levels and how to get in touch with them from time to time know about the progress of the project and act upon any difficulties, which the team members are facing without micro managing them. -
Non Certified Project Manager vs Certified Project Management Individual
It is quite a debatable topic however one cannot deny the fact that a certified project manager has all the skills to execute a project. A lot of projects that fail are due to the fact that the project was handled by a non-certified project manager who knew how to execute the project because of his experience but was not aware of the minute details on which the project manager should pay his attention and hence it lead to a disaster. -
Cost Estimations
Another significant reason for the project failure is inaccurate cost estimations. A lot of project managers calculate the costs as per the ideal situation however risk estimations are often ignored during the budget calculation and therefore due to the shortage of funds the project fails. -
Effective Communication
A strict project manager who avoids suggestions or avoids listening to his subordinates or junior team members often misses out the sauce. Due to the lack of communication, team doesn’t tend to be on the same page and hence disaster is bound to happen during the project execution. -
Managing Priorities
In an ideal situation with unlimited number of resources, no project can fail however one has to accept the real situation where every resource is present in limited quantities. Therefore it becomes very important to know how to prioritize the tasks to derive out maximum benefit out of it. A lot of projects that fail is due to the fact that the project manager is not able to prioritize the tasks and resources efficiently. -
Culture
Out of the several reasons for the project failure, one very important parameter is the work culture. If the work culture is in competent and lacks pro-activeness, the team members are bound to get demotivated and hence would lack the will to put in 100% during the project execution. -
Identification of Warnings “A stitch in time, saves nine�.
During the project execution, there would come several situations, where if, appropriate remedy actions are not taken, the project failure bounds to happen. Not acting at the right time, leads to the failure of the project. In order to avoid all the above mentioned reasons for failure, it is very important to do a PMP certification, get trained during the certification and then jump into the arena.