Digital QB Series: Why Projects Fail and How to Save Them! - a podcast by TBX Digital Inc.

Here are the 4 reasons why projects fail. This post also discusses how to save your project from a nose dive.  

Projects fail due to 4 key reasons: 

 1- Success Criteria is not defined: There is no goal in mind or the goal is not specific enough 

 2- Wrong team: Your project squad either has the wrong people, or is made up of the wrong roles not aligned to the key objective  

3- Poor Risk Anticipation: You did not look ahead and plan for a mitigation strategy for potential risks  

4- Poor Management: There is a lack of execution methodologies to guard rail your project   

How to save your project from a nose dive:  

1- Identify your key issues and root cause. You must dig deep and find the real reason why your project is failing. Is it because of the wrong people, lack of oversight, too many expectations, external factors?  Then identify 20% of the solution that will solve 80% of your issue  

2- Address your root cause and leverage your project sponsor for assistance, Once you identify the solution, then its time to align with your key leadership team member to re-strategize and execute on your solution. This could mean having some tough conversations with key team members, adding additional oversight, or re-aligning expectations with your leadership team.  

3- Lastly, You need to start with a new set of goals and objectives. You must re-align your new timeline, expectations, and success criteria based on your recovery plans, and ensure key stakeholders are aware of the change and measures taken to help save the project.  This may also mean cutting your losses for any key tasks or deliverables vs. trying to save or doing it all. 

 TBX Digital Inc.

 tanvirbhangoo.com

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