How can you deliver projects on time and on budget?
A large industrial manufacturer after investing €40m over 3 years decides to put a stop to the project. A partner organization who was going to use the product developed by the project also loses their investment of €10m. A newly modified plant for the product stands idle, as there are no customers for the product. Somewhere the benefits realization plan of the project must have failed.
What is the morale of this story?
Well, it is poor project management all the way from the decisions made to initiate the project, through planning, execution and providing adequate project oversight. Amongst the pitfalls that were cited in this project: poor justification of the project, decision making based on the enthusiasm of a few important stakeholders in the organization, poor understanding and explanation of the technology, focusing on just numbers, poor project oversight and we can go on and on. By the way, this is a real case.
Was this the first major project of this company?
No, it wasn’t. But this one put a big dent in its finances. Luckily for them the company survived and is still operating today. For some other companies project failure has cost them their existence.
Are these companies novices in project management?
No, they are not. Project failure due to poor management should be a thing of the past. Today, there are many standards and methods for managing projects, programs, and portfolios. Thousands of organizations worldwide train project managers and offer certifications like PMP®, PRINCE®, Agile, and more. Yet, certification does not guarantee project success. Project failures still cost billions of Euros annually. What is important is to know how to apply project management practices in projects, as well as methods best suited for the type of project at hand.
MCE has developed a full portfolio of Project Management training programmes for managers in international companies and organizations.
To work together effectively on any project, everyone on the team needs to use a common language and have a clear understanding of all expectations. These programmes are designed for individuals with little or no prior knowledge of project management who serve on project management teams, those who simply want to know more about PM or those who are making the transition to project management.
Related Programmes
Essentials of Project Management for Non-Project Managers
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