Back From RED!
Estimates for the annual cost of project failure are as high as two trillion dollars a year. The rates for projects being at risk are in the 60-70% range, and a quarter of all project's problems are so bad they are simply canceled prior completion. Before they can succeed at reducing the failure rate, organizations must understand what it is that makes their projects fail. Reasons range from methodology to human failure to poorly understood concepts to scope creep. Analyzing projects as systems uncovers all the factors that can contribute to failure. This presentation describes the key elements in recovering Red Projects from a system approach.
The four-step process to recover a project:
- Audit: The unbiased acquisition of data about the organization, customer, people and the project.
- Analysis: Analyzing the data to determine root cases of problems and developing a recovery plan and corrective actions.
- Negotiation: Arriving at an acceptable solution for both the supplier and the customer.
- Execute: Implementing the plan and corrective actions.
The major ways to keep projects from failing. The recovery process focuses the work one must do in dealing with the Red Project—the dynamics of the team, stakeholders and executives. Management style and technique are very important in the recovery and multiple tips will be provided on being a leader.
Todd Williams’ goal is to change how everyone executes projects he is passionate about removing the wall between the project team and the customer. In his latest book, Rescue the Problem Project: A Complete Guide to Identifying, Preventing, and Recovering from Project Failure, (AMACOM Books), he defines a project audit and a recovery process for rescuing red projects that focuses on root cause correction and prevention. His team at eCameron, whose mantra is “People, Process, and then Technology,” specializes in rescuing projects and helping organizations change. He is a professional member of Society for Information Management (SIM), Association for Corporate Growth (ACG), National Speakers Association, and the Project Management Institute. He is an expert in executive consulting, project rescue, failure prevention, and engaging people in the solution. He maintains a blog at http://ecaminc.com/index.php/blog that has been quoted on CIO Update, ZDNet, IT Business Edge, Center for CIO Leadership, among others. He has been chosen to speak to numerous companies and organizations, including NASA, SIM, AMA, PMI, APICS, FENG, IMA, ASQ.
PDU Category A, Component ID C331, May 15, 2012 (1 PDU) pdf How to Register PDU's (538 KB)