7 Reasons Why Projects Fail!

You’re only as strong as the people you surround yourself with. It is crucial to find the right people for the job. Make sure to evaluate each team member based on their strengths and weaknesses. There is no point putting someone in a position they aren’t qualified for, and watch them, and your project fail as a result.

2. Not creating a clear plan

Any serious project requires a clear plan of action. Without it you’ll get confused and sidetracked quickly. Make sure to take the time to create a clear project plan that highlights the project objective, as well as all tasks that need to be done, the amount of time it will take, and budget estimates.

3. Lack of leadership

Leadership is possibly the most crucial aspects of a project manager’s job. Even if you have a self motivated and hard working team, who know what they should be working on, leadership is still very important. Having a presence, and making sure tasks are performed at the professional level they should be, as well as meeting deadlines is something that needs to be taken care of. No exceptions! Leadership can make the difference between having a complacent team, or having an efficient and effective working machine.

4. Not keeping track of metrics

Keeping track of metrics can be a monotonous and tedious task, but without them, you’ll never know if your project is on the right course. Metrics help show your growth pattern and trends, as well as how well your initial estimates line up with actual results. It also helps make sure you don’t go over your financial budgets, and meet deadlines. Having your metrics will also help when it is time to find an investor, as they will want to see how you’ve grown over time, your financials, and other data.

5. Lack of communication

Similar to lack of leadership, communicating clear directions with specific expectations and a fair deadline, is something that is important for the project manager to keep in mind.  A lack of communication can lead to confusion and misunderstandings, and even a loss of trust in the project manager and the project itself. Have regular meetings to provide updates and let people ask questions. Remember, you’re all on the same team!

6. Picking the wrong priorities

As fun as it would be to work on just the fun or easy tasks first, there are certain tasks that may be more urgent or time sensitive. Make sure to prioritize those tasks first, and then evaluate the landscape of your project to see what your next priority should be. Going back to a previous point, having a clear plan will help with this too. Set short, medium, and long term goals. This will help narrow down with tasks you need to prioritize first.

7. Inefficient processes

 

Processes are something to always keep an eye out for. Sometimes a process that worked on Day 1, may not be that efficient a month later. Certain business practices do not scale, and need constant adjustment. Make sure your project isn’t being run in an inefficient way, as this could slow down productivity, cause confusion, frustration, or even cost you the project altogether.



Leave a Reply