project success

30 Mar

Guarantee Project Success? Start with “THE WHY”

Nowadays most large organisations grow and prosper via PROJECTS, temporary organisations set up to deliver new products, services or transformation.

Project management is the cornerstone to the success business today, but there are astonishing statistics relating to project failures across the globe.

“Just 8% of projects deliver on time and to budget – Only 48% of projects delivered to budget” Oxford Global Projects

How do you increase your chances of moving your projects closer to that 8% of successful delivery for your organisation?

You start by identifying the WHY!

Do any of these statements resonate with you?

  • I am going for a walk because it is good for my health and will help clear my head.
  • I am going to buy a new car because my old car is costing me a lot of money in repairs and is unreliable.
  • I am going to take this job offer because it is closer to home, saving me time in commute which I can spend on family and leisure activities.

Every day we make decisions like these in our personal lives.  Being clearer on WHY when considering initiating a project, will increase the chances of success.

Clarity on the WHY can be broken down into the

 

WHY: The Deliverables

  • Resolving a business/organisation problem
  • New product or service development
  • Product upgrades
  • Business enhancements and improvement
  • Business change including regulatory and legal compliance

 

WHY: The tangible Benefits

  • Increase in revenue by 10% from new product sales
  • Increased business efficiencies of 15% from improvements leading to higher returns
  • Increase sales throughput of 12% from new product upgrades
  • Increased brand awareness leading to an increase in customer numbers (intangible)

 

We all know that there are many other factors which contribute to the success of projects e.g. planning, control and monitoring. For more detailed discussion on these topics refer to my previous blogs or my LinkedIn page.

If you want to discuss this or other areas of Project Management, why not avail of a free consultation to see if my consultancy service can be a fit for your business.

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