3 key principles to reduce project failure
By D Comninos, UCT Graduate School of Business
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Electricity+Control, June 2013 (pages 44 – 45)
Traditional project management tends to focus on planning and execution. Strategic project management broadens this to focus additionally on project selection and garnering full organisational support and integrates processes, tools and technology, people, and organisational culture to succeed. It takes the holistic view of an organisation’s resources and its goals. The aim is to ensure that allocated resources are put to the most efficient use and that every step in the project processes is executed in a way that has a lasting impact on the organisation. Project managers can achieve this by focusing on three key principles:
- Capturing real time knowledge and sharing it across the enterprise
- Streamlining communication for improved collaboration
- Minimising waste to save on resources.
- Projects can and do fail – at an alarming rate.
- Strategic project management draws on a wide range of inputs to increase project success.
- Project selection, organisational support and integrated tools, technology and people, are critical ingredients for project success.