Project management requires accurate planning, a skilled workforce and clear communication. Many times, projects fail to meet the deadline or client expectations.
In this blog, we shall explore the causes of project failure, a few examples of failed projects and the lessons learned.
Project Failure Reasons –
- Improper goal setting – The first step of a project planning process is defining the project goals, objectives, and scope. The project objectives must be specific, time-bound, attainable and measurable.
Create a detailed plan and outline your project’s steps, resources, and timeline. Use goal-setting models like SMART (Specific, Measurable, Achievable, Realistic, and Time-bound), OGSM (Objectives, Goals, Strategies, Measures) or OKRs (Objectives and Key Results).
- Lack of resource planning – You need resources like budget, skilled employees, equipment, and technology to complete your project. However, a lack of resources can hinder your project. For example – Your goal is to manufacture 100 shirts in one day, but your machinery requires repairs, and due to a flu breakout, half of your staff is unavailable. In this case, you will run out of time and be unable to achieve your goals.
To avoid such a situation, you must plan a backup. Regularly service your machinery and maintain the equipment. Keep some reserve stock ready and a few employees on standby.
- Change in project scope – The common term for a sudden change in the scope of the project during the project lifetime is called Scope Creep. It is when the project deliverables extend beyond the project scope and strain the resources.
For example – You are ready to launch a new product campaign. But at the last minute, the client decides to change the product. You must revise the copies, creatives, and campaign strategy to include the changes. It adds to project delivery time and increases the work of your team.
- Communication gap – Improper or inadequate communication often leads to confusion and frustration. It is crucial that all the team members are in sync. They should be aligned with the changes, progress or essential updates related to the project.
Consider using project management software like Jira, Slack, or Microsoft Project. You can inform or update your team about the changes or progress of the project using these tools.
- Skill gap – Lack of necessary skills can be another reason for a failed project. The team may lack the required skills and knowledge to execute the project. A PMI report states that organisations prioritising power skills perform better against multiple key drivers of success. Thus, bridging the skill gap will lead your team to perform better.
To successfully complete any project, you must plan it well, communicate clearly, and ensure your team members are accountable for their tasks. It will avoid the project pitfalls or tackle the problems efficiently.
MITSDE offers an online PGDM Project course bundled with internationally recognised and accepted PMI certifications for working professionals.
Project Management Institute (PMI) is a not-for-profit organisation established in 1969. PMI offers globally recognised standards, certifications, online courses, tools, digital publications, and communities.
MITSDE has partnered with PMI to offer a bundled course of PGDM Project with PMP Prep certification.
The PMP certificate is globally recognised and opens countless career opportunities in various industries, including healthcare, finance, IT, construction, and more.
The PGDM Project Management course covers –
- Fundamentals of project management
- Role of project managers
- Project management environment
- Project integration management
- Project scope, schedule, cost, quality and resource management
- Project procurement
- Predictive/Plan-Based Methodologies
- Agile Frameworks/Methodologies
- Business Analysis Frameworks
- Risk Management
- Stakeholder Management
- Quality Management
The concepts covered in this course are perfect for those wishing to start their career in the project management domain.
This course provides various career prospects in project management –
- Project Coordinator
- Project Scheduler
- Project Manager
- Senior Project Manager
- Project Planner
- Project Coordinator
- Project Planning/Scheduling Engineering
- Documentation Specialist
Thus, MITSDE offers a 360-degree learning approach that guarantees a rewarding career.