Project Success and Failure - Project Success and Failure

Balance The Project Objectives

What organizations generally expect from a trained project manager is ensure finishing a project within cost, budget, scope, quality, and the stakeholder expectations. All projects involve the phases of initiating, planning, execution, monitoring and controlling, and closing. If you can focus on these project phases, you will be able to complete a successful project. The project management talent is balancing all these important requirements, which influence each other directly. For example, if the cost is desired to be reduced, the schedule and quality may be affected. If quality is needed to be enhanced, cost and schedule may change. The project manager should be proficient to ensure balancing of competing objectives, in consultation with the sponsor, and project stakeholders.

Important Project Facets

1- Quality: this is the major concentration area for all project managers, since even if the project can satisfy the schedule and cost, it may not be successful if the quality is not acceptable. The quality standards and quality measurements need to be amply clarified in the project scope, and plan.

2- Schedule: if you are able to ensure project control, to create a project within the planned schedule, then additional time will not be necessary, implying adherence to budget. However, do not compromise time for quality. Since a top quality project with a minor delay in schedule, may be much better than a project, which has been completed in time, but lacks quality.

3- Cost: project managers generally desire to complete projects at the lowest cost. This aspect is desirable, but extremely vital since it may influence the project quality. To evaluate these aspects, the project manager should examine other projects that were successful, and attempt to benchmark these projects.

4- Estimating: this is a vital project manager obligation. Cost, quality, schedule, procurement, human resource plans are based on accurate cost planning. Modern tools used for cost estimation, like spreadsheets, including budget spreadsheet, amortization spreadsheets, dedupe excel spreadsheet and spreadsheet for calculation overtime bi monthly pay periods.  Project managers may also learn how to create piper diagrams using excel spreadsheets, which will be extremely helpful for water projects.

5- Planning: this is possibly the most essential element of all projects that were considered to be successful. Create a project management plan that will include all subsidiary plans relating to quality, risk, procurement, human resources, cost, and communications. Attempt to break huge activities into smaller components, by using the technique of breakdown structure.

6- Execution and control: these important project management process groups are performed in parallel. While execution is in process, monitoring will ensure that project execution is in accordance with the project management plan, and all variances are properly managed.

7- Soft Skills: these modern technologies are extremely successful for the management of difficult projects, and are considered one of the critical success factors. NERC root cause analysis template may assist to determine the root causes of numerous issues at projects, and also facilitate an authentic assessment of the project success. There are several evaluation methods, but employment of PMI project management institute methodologies, leadership styles regarding facilitative leadership, and 8d root cause analysis, will produce an authentic assessment and project control that will be important to ensure success for all.