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Project Management |
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Success / Failure 2
Project Success and Failure (contd)
A project may overrun on budget or schedule due many factors, such as:
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Underestimation of cost, time and risk
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Lack of planning and control
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Deliberate underestimation
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Lack of staff continuity
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Lack of project management expertise and skills
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Over ambitious objectives
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Uncertainty
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Changes in the specification
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Business case insufficiently robust - especially market appraisal
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Poor communication with customer/stakeholders
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Mismatch of stakeholder expectations
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Deliverables poorly defined
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Insufficient contingency (time and/or money)
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Lack of visible senior management support
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Decisions not timely
Under estimation of cost and time
Estimating costs and timeframe can be complicated. Cutbacks
could result in project failure.
Lack of planning and control
Project managers must ensure a high level of planning at each phase
whilst keeping staff enthusiastic
Deliberate underestimation
Competition during the tendering process can lead contractors to:
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Be optimistic
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Underestimate to attract a client
Lack of staff continuity
The temporary nature of projects can engender a lack of staff commitment.
Lack of project management expertise and skills
Complex projects are difficult to control and co-ordinate. Constant two-way
communication is vital.
Over ambitious objectives
A project may simply be far too ambitious in the first place.
Uncertainty
All projects are planned well before they are executed so carry a high
risk as the future environment may change. For example:
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Unpredictable materials and labour cost increases
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The weather on external construction projects
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