Despite the commitment of many companies to implementing solutions, too many projects fail or do not meet initial expectations. Delivering a solution to address the business problem and create a competitive advantage is imperative for success. Understanding the business motivation for change or the pain point is vitally important.
Why do projects fail?
Key reasons for project failure include lack of strategy, and lack of understanding often resulting in a significant increase in the initial budget. Many failures, though, arise from the incompatibility of business processes. The following list indicates possible reasons for failure of such projects:
- Poor quality of data and information.
- Lack of support from management teams due to conflicting business priorities.
- Lack of vision, strategy. and measurable business objectives.
- ROI (Return on Investment) is unclear.
- No redefined processes.
- Lack of proper organizational change management strategies.
- Lack of end-user engagement.
- Implementation of technology without clearly defined business objectives.
If your organization does not have experience implementing management systems, hiring a Team Project Leader who is a specialist and has an objective view based on experience to deliver your project successfully is highly recommended.