More projects, more success?
The number of projects, programs, and portfolios is rapidly growing all around the world. Over the past forty years, project management has become a prominent discipline that’s undergone a lot of development and has become highly visible.
However, despite this growth in the field, the amount of successful projects isn’t growing at the same rate. Studies show that only twenty percent of all projects are completed successfully. The biggest culprits that cause failure: limited budgets, poor communication, unmotivated team members, not enough time, wrong priorities, and scope creep.
The real success formula is yet to be discovered
What goes well in every successful project? What do our consultants do differently so that their projects do succeed? As of yet, there’s no guaranteed success formula for project management and performance. This is a remarkable phenomenon compared to the growing market. But our associate partners have experienced ways to increase the success chance of a project.
Leadership & complexity
Research by Müller, Turner and Gerladi (2007) shows that various leadership competencies affect projects at different complexity levels. They developed a leadership profile for three different levels of complexity. The results of the research indicate that lacking information and uncertainty of the project can’t be solved by the project leader’s vision, but the project leader has to involve their feelings in their interaction.
The researchers also indicate that success chance greatly increases when project managers focus on completing tasks instead of solving the differences between the various parties involved.
Research relationship project – project manager
We extracted several key success factors for projects from interviews with project managers who successfully completed projects. Competencies and motivating factors were mapped and set as learning goals through a development track for the benefit of personal and business development. The effects on the customer, the financial and internal organization were described in accordance with the commonly-used balanced scorecard.
Aside from determining the “hard” aspects like scope, goals, and acceptance criteria, the “soft” factors, like behavioral competencies, are also important. It’s these soft factors that make the difference. The project shouldn’t just be approached from a goal-oriented perspective, but a personal one too. Certain competencies can be better deployed in one project than a different one. Our consultants know how the professionals in your organization can achieve the success factors.
Do the projects in your organization stall or get delayed or fail? Passionned Group can help you. We’ll thoroughly analyze the project management and performance in your organization, advise you, and guide you. If desired, we can execute the entire track for you. We can find the gaps in your project management organization and offer our insight and guidance in change tracks, development tracks, and training for your project managers and employees. The big advantage? You don’t run any unnecessary risks.
Do you want more information about the key success factors in programs and projects, or do you simply want to discuss the possibilities for your organization? Contact us.