Why measuring project success by Time and Cost causes projects to fail
Despite the enormous effort over the last three decades into improving project management as a discipline, and despite project delivery professionals being some of the brightest on the planet, project success rates – by any measure – are generally considered poor.
This presentation will explain:
- Why, when we embark on any business change project – without a clear sense of what we are trying to achieve, and a clear understanding of the value to be delivered (compared to the cost and time to deliver), our projects will continue to fail.
- Why measuring by time and cost, rather than actual value, causes us to make illogical decisions which then destroys projects.
- How the lack of a clear sense of “Value”, mean business sponsors cannot act to effectively to govern and lead the project. Especially, the governance team cannot effectively support the project manager – forcing the PM to be either the superhero that will miraculously deliver the project – or the one to blame when things go wrong.
- What are the simple steps to defining a Value Equation for a project, which can then drive the project through all stages from idea initiation to business case development and through implementation. A Value Equation can be defined at any point in the project either to give clarity to the project concept or to remediate an off-the-rails project even after formal handover.
What attendees will learn: simple-to-apply, powerful models and tools, which they can immediately apply to their own projects, giving them a map and compass and provide the means for PM’s to engage with their business Sponsors as true partners.