We’ve all been there. You start off really excited about a project. You do your research, plan well, gather a good team, and get to work. And then somewhere along the way, things fall apart. Deadlines are missed. Deliverables don’t live up to expectations. Customers and your managers are dissatisfied, to say the least. It’s awful.
But why do so many projects with such great potential end up as failures?
WHEN IS A PROJECT CONSIDERED A FAILURE?
A project becomes a failure when it does not deliver what was required within the agreed-upon budget and time. However, in most cases, the stakeholders decide if the project was a success or a failure based on their judgment and satisfactión with the outcome.
Some projects are also considered a failure if they don’t meet the financial forecast or fails to meet the ROI target.
There are a number of reasons, and the good news is that you can address each obstacle and make your next project (and the one after that and the one after that) success with the help of project management guide by managing projects.
6 REASONS WHY PROJECTS FAIL AND HOW TO AVOID IT
Here’s a look at some of the causes of project failure (see Exhibit) and how you can avoid them.