PROJECT SUCCESS AND FAILURE FACTORS PROJECT FAILURE FACTORS

PROJECT SUCCESS AND FAILURE FACTORS

PROJECT FAILURE FACTORS Relations with the client Contracts and legal agreements Politics and conflicts Decreased Profitability Unrealistic goals Poor Communications Competitive disadvantage Client dissatisfaction Perceived value of the project

PROJECT MANAGEMENT FAILURE FACTORS Inadequate rationale, objectives, tasks, and goals Wrong project manager Unsupportive top management Lack or misuse of project management techniques Inadequate project planning Lack of commitment to the project

PROJECT MANAGEMENT FAILURE/SUCCESS FACTORS CONT. Factors and constraints affect either the success or the failure of projects: • Completion of project within scope or customer requirements • Completion of project within allocated budget • Completion of project within allocated schedule or period of time • Completion of project using allocated resources • Completion of project within established performance and technology standards • Completion of project to maximize project value for stakeholders

PROJECT SUCCESS There are several ways to define project success: The project met scope, time, and cost goals The project satisfied the customer/sponsor The results of the project met its main objective, such as making or saving a certain amount of money, providing a good return on investment, or simply making the sponsors happy

WHAT HELPS PROJECTS SUCCEED 1. User involvement 2. Executive support 3. Clear business objectives 4. Emotional maturity 5. Optimizing scope 6. Agile process 7. Project management expertise 8. Skilled resources 9. Execution 10. Tools and infrastructure *The Standish Group, “CHAOS Activity News” (August 2011).

OTHER SUCCESS PROJECT MGMT. COMPONENTS • A clear definition of the project, including good rationale and alignment to corporate goals • Developing a project organizational structure with associated channels of communication, accountabilities, responsibilities, and reporting facilities • Defining project requirements from customers and establishing a project scope for success • Planning the project to include analysis of activities, and defining and developing major tasks with milestones • Planning clear and adequate communications • Evaluating risks at all stages of a project and planning to mitigate these risks • Estimating time, costs, resource requirements and performance measures, and project value • Scheduling all activities • Continuously monitoring and controlling scope, time, cost, performance factors, and project value • Implementing the project • Bringing closure to a successful project • Creating and benefiting from project value

KEY●Project TERMS Components ●Charter ●Goals and objectives ●Deliverable ●Scope Definition ●Requirements (business and functional) ●Risks and Issues ●Communication plan ●Resource Identification ●Work Plan (tasks, dependencies) ●Change Control ●Commonly used terms ●Bandwidth ●Vet ●Scope creep ●Metrics

KEY TERMS (CONT. ) ●People ●Sponsors, Executive Sponsors ●Stakeholders ●Guiding Team (CORE, PIT, and Oversight) ●Work Groups ● PM Tools and activities Risk Assessment (planning) ● Flow Chart ● Process Flow ● Business process re-engineering ● Process map ●Work Breakdown Structure (WBS planning) ● Timeline/Milestones (planning) ●Triple Constraint/Resource Triangle (planning) ● ● Other ● ● SMART Goals (specific, measurable, attainable, realistic and timely) LEAN Methodology

ROLES IN THE PROJECT FRAMEWORK Sponsor/Executive Sponsor Guiding Team (CORE, PIT, and Oversight) Project Manager Operational Staff: Adviser/Subject Experts/Business Analyst Operational Manager Key Resource Work Groups Project Team Leader Team/Member

PM SKILLS: KEY TO SUCCESS Planning (I – P) Communication (I – P – E– C) Resource Management (E – C) Team Management (P – E – C) Scope Management (E – C) Schedule Management (P – E) Initiate – Plan – Execute – Close

SUMMARY A project is a unique activity that adds value, has beginning and end dates, and has constraints that include scope, cost, schedule, resource, performance, and value (customer satisfaction). Using technological uncertainty and technological complexity as two dimensions, we can classify projects. In general, there are six distinct phases of a project in a project life span Organizations that work on various projects need to acquire good project management skills and techniques. Project management is the act of collaborating people and other required resources such that the project is planned, organized, and controlled effectively to accomplish project goals and objectives. Project success depends upon project management success. Project success is due to a good understanding and a good control of constraints.

SUMMARY CONTINUED Success and failure of projects depend upon completion of the project: • Within scope or customer requirements • Within allocated budget • Within allocated schedule or period of time • With allocated resources • With established performance standards and maximizing technology use • With maximized project value for stakeholders