Project Management Expert - Why Projects Fail

project management in crisis

Project manager

The Sad State of Project Management

29% of projects have no formal change management process
only 34% of projects achieve stakeholder satisfaction
only 33% of projects meet business objectives
only 29% of projects are delivered within budget
only 31% of projects are delivered on time

Source: KPMG Project Management Survey 2017

project reports

Wait! There's More...

70% of all projects fail
In the U.S. for every $1B spent on projects, $122M is wasted due to underperformance
80% of senior executives don’t understand how the projects align with corporate strategy
the failure rate for projects > $1M is 50% higher than projects with a budget < $350k

Sources: www.trainwest.com & www.teamstage.com.

Big business

Why Should You Care?

Projects will only grow bigger, more complex, and more expensive in the future.
Reducing chronic project failure is a strategic competitive advantage organizations can ill-afford to ignore.
"Global capital project and infrastructure (CP&I) spending is set to grow to more than $9 trillion annually by 2025, up from $4 trillion in 2012."

Source: Report by PwC, Capital project and infrastructure spending: Outlook to 2025

SO...WHY DO PROJECTS FAIL?

The Myth

We are taught the triple constraints of scope, time, and cost (along with quality) are the main reasons why projects fail. THIS IS FALSE!
Based on our extensive research, analysis and 30+ years industry experience, there are at least 27 - yes 27 - reasons that can kill a project.

The Truth

Projects fail miserably...and will continue to fail, because there is a poor understanding of the NATURE of project management!

Therefore, we fail to accurately manage risk from a macro-level perspective.

The Secret

There are 2 main reasons projects collapse:

Poor understanding of the true NATURE of project management, which is that the project management system is inherently infected and exposed to 27 defects or diseases that can kill a project at any time if not proactively managed
A poor macro-level view of project risk management