Project failures are disappointing outcomes often that end up with a poor reputation in the IT space. In the IT world, a project failure is quite expensive.
For several years, project management has been a part of the IT industry. The IT systems have become more robust, and infrastructures have become competitive over time.
Considering the expense, it’s shocking to know that 2017 experienced a waste of $97 Million due to poor project performance.
According to PMI’s 2017 report, nearly 14% of IT projects fail. Also, of the ones that didn’t fail, 31% failed to achieve their objectives, 43% met their budgets, and 49% were late.
The PMI report also shed light on 6 parameters for project success:
- Timely delivery
- Cost vs. Budget
- The clarity in project design
- Usability factor
- The goals that are aligned with the project
You may be familiar with the typical woes of team projects in the workplace: a lack of a clear goal, miscommunication, or a perplexing project roadmap. Even minor setbacks can disrupt a project and cause a chain reaction that echoes across the organization, so careful preparation is essential.
Read the full article on Orangescrum blog
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