Most high growth companies today complete much of their core work through projects and project teams.
Yet, recent studies by McKinsey, IBM and KPMG found that:
- 17% of projects went so poorly that they can threatened the company's survival
- 45% run over budget
- 7% miss final project milestones
- 56% deliver less value than originally predicted
- 70% of organizations have suffered at least one failed project in the last year
- The best organizations at projects are 10 times more successful than the worst
- The biggest perceived barriers to project success were changing mindsets and attitudes, corporate culture, lack of executive support, and the underestimation of project complexity
Successful high growth organizations know how to define, plan and execute successful projects. They learn from early slip-ups and know how to avoid similar mistakes going forward.
Savvy project sponsors know when to pull the plug or change course in a way that delivers what is most important to the business. Smart project leaders know when and how to halt the forward momentum of a project encountering problems until they have what they need to confidently deliver what has been promised to their key stakeholders. Experienced project team members know when a project is going sideways and how to articulate their concerns in a way that matters to those who can do something about it.
Regardless of your project role, here is a list of the top 10 ways you might slip below your project goals and how to ensure a safer, more secure path to desired project results.
Read More About the Top 10 Project Management Mistakes to Avoid
Benchmark Your Project Performance
About LSA Global
Founded in 1995, LSA Global is a leading performance consulting and training firm that helps high growth technology, services, and life-science companies create a competitive advantage by powerfully aligning their culture and talent with their strategy. Learn more about getting aligned
