The causes of project failure are easy to diagnose, and simple to understand. (PPE Truth #1)
Enterprise project and portfolio
management are changing
|Business changes are happening faster and more often|
|New software tools and systems are being introduced, promising great benefits|
|Companies are trying to get more value from existing systems and technology|
|Poor system and data quality complicate new software and process implementation|
|Expectations of earlier results lead to lower levels of quality in plans and deliverables|
For many companies this is the new reality. Unfortunately, many companies will also experience greater levels of project failure in this new reality.
New opportunities and challenges are resulting in the number of requests for software projects to increase in volume and velocity. The idea of a project backlog is becoming irrelevant. After all, it's only a backlog if, someday, you get the chance to get back to it.
In the new reality:
It’s not “How can we find the time to fulfill all of these requests?” It’s “Which of these requests can we find the time to fulfill?” (PPE Truth #14)
The fact is, from now on, there will never be enough time or resources to accomplish everything that seems important. Because of this it's critical that limited resources -- time, money, and energy -- be concentrated on the projects that can return the greatest benefits to the entire enterprise and that have the greatest probability for success. The most important factors for success with software and software-related projects are the abilities to evaluate, select, and prioritize the right projects for funding and execution.
Project Portfolio Excellence (PPE) emphasizes these important factors. But it also focuses on current project and software lifecycles and processes. It doesn't matter how capably you select and prioritize initiatives and opportunities if you don't have reliable processes that can drive the efforts to successful completion. The majority of companies fall short in this area. 50% to 70% of the time projects don't fulfill expectations. They take too long, cost too much, or return too little.
PPE stresses the effective collaboration of Senior Managers, Business Professionals, and Technology Professionals. It's only by combining knowledge which is exclusive to each of these three groups that a holistic view of enterprise capabilities and constraints can be formed. This holistic view yields the greatest probability for project success.
Read through the material presented here and think about how it compares to the results you're currently getting with enterprise software and software-related projects. Pick a path, from the buttons below, and start learning about how Project Portfolio Excellence can help your organization.
We need to stop wasting time, money, and energy on projects that simply have no chance for success! (PPE Truth #28)