White Paper: Preempting Project Failure
Updated: Oct 12, 2020
Most organizations do not anticipate project failure. Instead, they plan for success, governed by budget, next step deliverables, executive expectations, and go-live deadlines. Heads-down to the task at hand, project teams often plan for and address risks and issues that are anticipated to occur over the course of the project. But how do you address hidden risks, such as poor requirements definition that may have occurred before the project officially began or the larger project team was in place?
Preempting project failure begins with understanding that there is a preventative approach that can provide planned project assurance at critical points in the project’s evolution. It begins with clear understanding of expectations – from the executives, to the business and IT management, to the software vendors and end users.
Why? Because clarity in expectations translates to clarity in both system requirements and business analysis.
Consider these key findings from the report, The Impact of Business Requirements on the Success of Technology Projects from IAG Consulting:
Companies with poor business analysis capability will have three times as many project failures as successes
68% of companies are more likely to have a marginal project or outright failure than a success due to the way they approach business analysis
Companies pay a premium of as much as 60% on time and budget when they use poor requirements practices on their projects
Over 41% of the IT development budget for software, staff and external professional services will be consumed by poor requirements at the average company using average analysts versus the optimal organization.
To preempt project failure, beginning at requirements definition, The Prinzo Group has developed a project assurance methodology known as collaborative intervention. Collaborative intervention is a project assurance methodology designed to align project expectations, resources and scope with the goal of increasing the project’s probability of success. Collaborative intervention is different from other project assurance methodologies in that it addresses key project failure points before they occur by creating a collaborative environment comprised of key project stakeholders to discuss and resolve project issues and roadblocks before they arise.
To learn more about preempting project failure through collaborative intervention, download the free white paper from The Prinzo Group: Preempting ERP Project Failure: Project Assurance through Collaborative Intervention.