tax planning kpmg
Two companies out of three fail in their projects
In the autumn of 2007 KPMG, the global network of professional firms providing audit, tax and advisory services, performed an inquiry among 96 Swedish companies with ongoing project activities, and observed that most of them failed in their projects.
Jim Beutler at 3p International investigated some less successful projects a bit further and observed, as KPMG, that failed projects principally are the result of “idleness”, i.e. the projects and project members don’t get enough focus or resources.
According to the orderer of a project (the client) the single most important parameter of whether a project is successful or not, is the project’s usefulness. In the world of projects three parameters are a constant topic of discussion: time, finances and quality. But is there really any point in delivering a perfectly running Volvo V70, on time and at a price agreed, if the colour is wrong? A client’s expectations are crucial at the initiation of a project, and these expectations are to be met. This means a lot of hard thorough work, and it has to be documented and verified by both deliverer and client. It is not until this initial work has been carried out that it is possible to talk about schedules, budgets, quality plans, etc.
There are no simple mathematical formulae, software or other means that can replace the human input in a project. But simple (user-friendly) project management softwares like my3plive facilitate work for everyone involved. At the same time it secures the quality of the project work; everything is executed in the way it should be in a project.
When KPMG asked the companies inquired: “Which are the three main reasons projects fail in your organization?”, the answers differed. However, some answers kept coming back:
- The internal resources aren’t available as much as intended
- Defective project management
- The deliverers of services/products to the project didn’t meet the demands
- The needs of the client hadn’t been established or agreed upon
- Indistinct project aims
- Poor engagement from the company management
- Changes along the way in the extent or direction of the project
- Poor competence and insufficient education in project work
Many of the reasons to failing projects in an organization can be eliminated by introducing and using a methodology and the project management software my3plive.
About the Author
Royse Law Firm Estate Planning
Deals of the Day: FDIC Weighs Suing WaMu Executives
Deals of the Day gathers all the biggest news of the morning related to mergers and acquisitions, bankruptcies, financing and private equity.