Top 5 Reasons Projects Fail

Since 2003, PMAlliance has provided project management consulting services to numerous Fortune 500 companies. Most of these organizations initially came to us because they had an important project that was in deep trouble. We use our methodology, tools, and expertise to rescue these at-risk projects and bring off-kilter initiatives back onto the path to success. Looking back across the projects we’ve helped return to a stable course, we identified five reasons projects most commonly run into problems:

1. Poor communication
2. Lack of project management training
3. Misalignment within the organization
4. Absence of a formal project management methodology
5. Insufficient facilitation and leadership skills

To achieve consistent success, it’s important to understand these failure points and how to prevent them from interfering with your project.

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Top Five Reasons Projects Fail (And How You Can Save Them)
Excerpt: “Too often, team members, project managers, and project sponsors haven’t received formal training in project management techniques that are used during planning and control. The result is inconsistency across the team on everything from common definitions to the understanding of important project management concepts.”

Project Experience

Experience
Portfolio Management
Successful portfolio management calls for exceptional data management skills and diligent oversight across multiple efforts.
Experience
Manufacturing
Demanding, time sensitive, and finely tuned, manufacturing projects require close attention and experienced oversight.
Experience
IT Projects
Organizations must be able to successfully execute challenging and highly visible technology projects to maximize revenue.
Experience
Power Plants
Power Plants must be able to keep these vital infrastructure assets current, efficient, and economically positive.
Experience
Energy
High-profile hurdles and expensive risks of failure make these projects critical to manage properly from the very beginning.
Experience
Aerospace
Presents complexities at nearly every stage, from allocating resources to controlling schedule variances, or clearing regulatory & safety hurdles.
Experience
Cross-Functional
Ensuring team members are able to move outside the silos of their department or discipline is the key to achieving success.
Experience
Product Dev
Design and other early-stage activities must be carefully orchestrated while maintaining visibility on future impacts and resource needs.
Experience
Mergers & Acquisitions
Among the riskiest and most strategically important initiatives a company can undertake, and their outcomes can make or break the business.
Experience
Finance & Insurance
Technology implementations call for the right level of planning detail and diligent oversight.
Experience
ERP & SAP
An ERP implementation can be among the most disruptive and strategically important initiative an organization can undertake.