How much do failed projects cost you?
When a project is poorly navigated and falls short of budget and timeline goals, it can cost you more than just money; it can cause irreparable damage to reputation, confidence, and client trust. The answer isn’t just dedicated project managers, but instilling your entire team at every level with project management abilities.
For guaranteed project management success, we’ve studied and learned from the Accredited Project Management Institute (PMI). Distilling their robust processes, we’ve blended their techniques with FranklinCovey’s 30 years of experience and timeless principles to equip people with the skills for consistent project success.
“On average, a failed project will cost one third of the budget.”
-PMI Pulse of the Profession 2012
People + Process = Success
We can tap into the team member potential with the foundational paradigm, People + Process = Success. Project management isn’t just about managing logistics and hoping the project team is ready to play to win. For real project success, we need “informal authority” where team members are inspired to work for you and dedicated to seeing the project successfully completed.
- Understand that consistent project success depends on processes and people.
- Implement Four Foundational Behaviors that inspire team members to execute with excellence.
- Identify a project’s stakeholders.
- Establish clear and measurable project outcomes.
- Create a well-defined project scope statement.
- Identify, assess, and manage project risks.
- Create a realistic and well-defined project schedule.
- Hold team members accountable to project plans.
- Conduct consistent team-accountability sessions.
Monitor & Control
- Create a clear communication plan around the project that includes regular project status reports and project changes.
- Reward and recognize the contributions of project teams members.
- Formally close projects by documenting lessons learned.
Less stress, more control, and consistent success
With team members personally invested in seeing projects completed, a willingness to work together, and the ability for any of those team members to step up and take charge of a project, you’ll see a dramatic drop in project failure.
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