Reason of Project Failure

First, I will tell you what is a project and how to execute a successful project. The Project is a task or any work assigned to complete it with some deadline and which gives you some positive or negative result which can be beneficial for your company or it can be loss or failure of that project. The Project can be of any type like software development, product development, ETC. The project is a set of multiple tasks to achieve one desired goal. It’s a temporary work that is undertaken to obtain the desired goal with the help of a set of the team. The risk is the most important and complex part of project management in this changing dynamic there is always a risk. If you are a project manager then it's equally important to know about the risk factors before the project starts because that will help you to turn around the situation very fast when it comes to your project. If you are aware of the risk, then you can take appropriate action against it. Project manager uses many tools in the running project to identify risk and error occurred in the software this software works like a backbone to the manager for the better and effective project result.

Early signs of project failure

Undefined or poorly defined project objectives and requirements: objective and requirement of the project should be clear to all the management people in the first place to clearly define the scope of the project because if the scope change, then it can directly affect the requirement and cost of the project so requirement should be clear with stakeholders and others so that there is no big change in the middle of the project to avoid the unwanted cost of the project.

Lack of adequate project planning: As soon as the scope is decided then the next step should be project planning there are many ways to get the project done, it’s manager duty to find out the easy and cost effective approach to complete the task. Planning should be done with the scope of the project to achieve that desired goal. | Project planning tools

Lack of change management process: Change can happen for an uncontrollable reason. And the lack of change requirement process can lead to project failure. You should use a strict change management process in the project so that it can prioritize and adjust the requirement as per the scope time and cost of the project.

Lack of stakeholder involvement: Lack of stakeholder involvement can lead to project delays and failure so project manager should keep in mind to include the stakeholder in every stage of the process from starting to end to avoid the miss communication with the team and project requirement are fulfilled and defined.

Bad timing: That means it is not the right time for the project, it may be the reason that the customer is not ready for the product or market is not in your favor or company don’t have an appetite for it. This thing can lead to failure of the project if you start with this timing.

Inadequate Documentation and Tracking: Lack of documents in the project and without tracking the records can make confusion in the project and that confusion can lead to failure of the project. It’s a key responsibility of the manager to keep all documents and records up to date which will help him to identify the requirement of resources which will help him for better and effective account.

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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