A number of factors are making it more difficult than ever to achieve project success. The fiercely competitive economic environment means there’s tremendous pressure to produce results quickly. The tendency of today’s organizations to be interconnected with multiple business partners means more internal and external areas to be considered in the project, creating enormous complexity..
What’s more, the very criteria for success have changed. Today, coming in "on time, on budget and to specifications" just isn’t enough. To be considered successful, you must also clearly demonstrate that you have achieved project objectives, effectively managed change and transition, exceeded stakeholder expectations and realized measurable business benefits.
But every opportunity also brings substantial risk. If, despite your best efforts, the project should fail or fall short of expectations, the consequences for you and your organisation could be devastating. And, unfortunately, the odds of success are fairly low.
Project performance statistics show that 50% of projects end up late or over budget. 25% fail completely. And only 25% actually succeed.
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