With its achievements and mistakes, every project offers lessons. The need to build a learning mindset from the beginning of a project is emphasized through best practices and training. Indeed, I’m presenting my research here on prevalent causes of project failure that have to be identified so that people in making projects know the lessons before making mistakes. Moreover, it will assist anyone in preparing for their next endeavor. So, here are ten common and specific causes of project failure:
Inadequate Planning
It would be best if you had a clear idea of what you intend to do ahead of time. If you don’t, you can end up upstream without a paddle. You must know what project success looks like from the start and maintain that focus. You are making things more difficult for yourself if you do not have a clear direction at the beginning of the procedure. Hold a meeting with stakeholders to discuss their expectations for cost, timing, and product quality, even if it is long. Determine how you will carry out your responsibilities to meet everyone’s expectations.
Lack of Documentation & Tracking
This is the project manager’s responsibility. You’ll be able to tell whether you’re on track by keeping track of milestones. In addition, the PM can determine where more resources are needed to accomplish a project on schedule with proper tracking and monitoring.
Poor Leadership
The project manager is not solely responsible for project leadership. Each management level’s leaders are responsible for ensuring the project’s success. Management should not micromanage but rather provide support to project managers to meet the goals set for them.
Unable to Define & Enforce Parameters
The project manager must be able to collaborate effectively with the team. If and when tasks or goals fail to meet the standard, there should be consequences. Therefore, prioritize tasks and assign them to the person with the most experience.
Inexperienced Project Managers
Project managers bear much weight. These individuals must have the necessary education and expertise. In addition, inexperienced project managers will be in charge at some time. They may be excellent project managers, but the key is to keep them at a level that allows them to succeed. Anything else is a recipe for disaster. There’s nothing wrong with a challenge if it’s not too difficult for them. Unfortunately, according to the Project Management Institute’s (PMI) 2017 Pulse of the Profession study, inexperienced project managers are one of the leading causes of project failure 20% of the time.
Imprecise Cost Estimates
Your expense estimates may be utterly inaccurate at times. When resources run out, the endeavor comes to a halt. Prevent this by spotting a resource shortage early on. According to 28% of survey respondents, inaccurate cost estimates cause project failure.
Sluggish Communication
Inadequate and sluggish communication between upper management, the team, users, or other stakeholders is a primary cause of project failure. Everyone should feel comfortable speaking up about their concerns or offering suggestions. Workflow is at its best when everyone is on the same page, and the project is transparent.
Ethical Misalignment
Competence, pro-activeness, and professionalism should all be part of a company’s culture. Otherwise, team members would be unmotivated to give their best. When everyone commits to their role and responsibilities, the project will be completed successfully.
Lack of Resource Planning
Insufficient resource forecasting is a crucial cause of project failure in 23% of cases. When there are inadequate resources, the disparity between staff and funds will produce competing priorities, affecting project execution and delivery. Therefore, project managers should know how many and how long they require project resources from the outset.
Disregarding Project Warning Signs
Warning indicators will arise when a project is on the approach to failure. To rescue the project, project managers should act immediately. Otherwise, the whole thing will be a waste of time.
Project success is dependent on adequate employee training, project management tools, and management transparency. Finding the appropriate project management software is one of the simplest things you can do to keep your project on track. These tools are necessary for avoiding project failure. Tasks like time tracking, expense tracking, and cost projections are simple to administer for users. Additionally, keeping an eye out for these causes can aid in project success.
Mirza Rakib Hasan Shovon
Managing Director
AristoTex Garments International
Director
Research and Development
International Corporate Association of Professionals (InCAP)
To explore more Editorials, Please Click Here!
