We’ve all heard the statistics and most likely lived them. The challenges to project delivery are formidable, even more so in Information Technology.
- 9.9% of every dollar is wasted due to poor project performance - that’s $99 million for every $1 billion invested. [PMI]
- The average IT project overran its budget by 27%. [HBR]
- Among IT projects, failure rate corresponds heavily to project size. An IT project with a budget over $1M is 50% more likely to fail than one with a budget below $350,000. [Gartner]
- 17% of IT projects go so bad that they can threaten the very existence of the company. [Mckinsey]
The above stats are just a handful of dozens of facts and figures studied, reported, monitored, and scrutinized over the last decade or more. Sure, there are success stories in the mix and definite evidence of progress in moving the needle in the right direction. However, the fact remains that far too often we find our projects in positions of distress.
Despite a plethora of tools, techniques, and tactics, with quite the spectrum of approaches to project delivery, many organizations still struggle to get it right. When things don’t go as planned and projects are on the verge of failure, you need a strategy for finding the simplicity in the chaos. A way to filter out the noise and identify the actions that will drive successful outcomes.
This presentation focuses on what to examine and why. We’ll use stories and data to share five fundamental principles to help you guide your projects back to calm waters.