BREAK THE CYCLE OF PROJECT FAILURE Repeated Success Is Possible and There Are Many Factors to Consider
75% of business and IT executives anticipate their projects will fail.
One in six IT projects have an average cost overrun of 200% and a schedule overrun of 70%.
15.7 MILLION 15.7 million new project management roles will be added globally by 2020.
— Harvard Business Review
REASONS PROJECTS FAIL* 1. 2. 3. 4. 5.
Lack of skills and experience of the PM/BA staff Misalignment with the business’s strategic goals Poor communication between analysts, project managers, and key stakeholders Lack of upfront planning and project governance Incomplete/changing requirements
Optimize Your Workforce for Project Success by Creating Alignment Between People, Processes & Technology
Industry certifications are useful to determine foundational knowledge of Project Management (PMI, Agile) and Business Analytics (IIBA). But only with a full understanding of the skills and competencies of your staff can you be sure you have the right people on the right projects.
Adequate planning, proper documentation, and formalized project governance are key to any project’s success. Removing or neglecting any one of these areas during a project’s lifecycle could set the project on a course for failure.
There are a variety of project management and predictive modeling tools available to help your teams capture, track, and communicate results. Knowing how to integrate and utilize these applications across these functions can help achieve the project success desired and avoid common pitfalls.
*Sources: http://blog.capterra.com/surprising-project-management-statistics/ • http://analytics-magazine.org/the-data-economy-why-do-so-many-analytics-projects-fail/ http://deloitte.wsj.com/cio/2012/06/06/5-reasons-analytics-projects-can-fail/
Published on Sep 6, 2016
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