When you start out on a new project you will probably worry about the chances of it failing. After all, some sources suggest that close to 40% of all projects fail, with those that have a higher budget seemingly more at risk.
Can you lower the risk of your projects failing by understanding some of the factors to take into account? Let’s take a look at some of the main reasons for failure and what you might be able to do about them.
A Lack of Communication
It is no surprise to see that poor communication is a major reason for some pieces of work coming unstuck. Quite simply, not everyone gives this area the high level of importance that it deserves. What can go wrong if your communication is poor, though?
For a start, you might not get the buy-in from other people that you need. If they don’t understand the project or see how it benefits them then you are less likely to be able to count on their full support at all times. They might think you are imposing something on them or just doing it all your own way regardless of their opinions.
You might also miss some important risks if you don’t listen well to what other people tell you. This is why you should start every project with a strong emphasis on good communication in all directions.
A Lack of Planning
The importance of good planning in the project world can’t be overstated. The project plan that you create at the beginning shows you exactly how your end objectives are going to be achieved, and when it will all happen by.
It can be tempting to save some time by skipping the plan, but this decision will come back to haunt you later if you go through with it. Good planning is one of the most vital elements of the PRINCE2 methodology that simply can’t be ignored.
You need to put in the time an effort necessary here. The rewards will be obvious later on, when there is a clear path ahead for you to follow.
Not Enough Resources
Many projects collapse due to a lack of resources. This can be a shortage of budget, of computers, of space or of people. If the resources aren’t correctly calculated at the outset and then allocated at the right time then the entire piece of work will be in danger.
Not all of this is likely to be in the project manager’s hands. However, you can control issues such as getting your own PRINCE2 edinburgh done and arranging training for your team to get the skills that you are going to need.
Once the project starts in earnest, the subject of the budget can become a real sticking point. Therefore, you want everything to be agreed and clearly signed off as soon as possible.
It Should Never Have Got Off the Ground
Is there a chance that this project was doomed to failure from day one? There are some pieces of work that should never have got off the ground in the first place. Being able to identify them early on will make your life a whole lot easier.
Is it a solution that isn’t really wanted or needed? Will new technology be along to replace it soon? Do you think that the project is too unwieldy or ambitious?
By identifying the potential risks to your project in the early days you can look to avoid it all going wrong. This will save you time and the crushing disappointment that comes from working on a failed project.