Australia's Premier Project Management Conference / 20-22 May 2018 / Crown / Melbourne

Why measuring project success by Time and Cost causes projects to fail

30 May 2017
14:00 - 14:45
TECHNICAL PROJECT MANAGEMENT

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.

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