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According to a 2017 report from the Project Management Institute (PMI), 14% of IT projects fail. However, that number only represents the total failures. Of the projects that didn’t fail outright, 31% didn’t meet their goals, 43% exceeded their initial budgets, and 49% were late.

Inaccurate Requirements and Poor Communication Are the Primary Contributors To Project Failure”.

So, how do you as a business owner, SME or MNC make sure you get the right technology solution for the problem you you are trying to solve?

For a project to be successful you need to plan carefully

Know what problem you are trying to solve

We have seen it time and again that without clarity on the problem statement, companies find it difficult to translate it into a technology solution with actionable points.

Without clarity, you could end up wasting precious time and resources going back and forth and worse even, not reach the desired outcome within the allotted budget.

How can this be prevented?

Clarity is power!!
To gain clarity, engage consultants who would help you shape your requirements through a thorough, curated process that incorporates best practices from the industry, challenges your assumptions and helps you elicit your ask in quantifiable terms.

Know what problem you are trying to solve

We have seen it time and again that without clarity on the problem statement, companies find it difficult to translate it into a technology solution with actionable points.

Without clarity, you could end up wasting precious time and resources going back and forth and worse even, not reach the desired outcome within the allotted budget.

How can this be prevented?

Clarity is power!!
To gain clarity, engage consultants who would help you shape your requirements through a thorough, curated process that incorporates best practices from the industry, challenges your assumptions and helps you elicit your ask in quantifiable terms.

Measure your success

A common problem with technical projects is an ill defined goal or a goal derived from its business equivalent goals that loose quantifiable meaning at the implementation level.

For instance, a company may have a vision to improve customer service but the metrics to measure the improvement may not be set and agreed across all individuals prior to implementation – are shorter or fewer calls considered an improvement?

According to the Project Management Institute (PMI) for a project to be successful:

  1. It’s delivered on time.
  2. Its cost doesn’t exceed its budget.
  3. It works as designed.
  4. People use it.
  5. The people who funded the project are happy with it.
  6. It meets the goals that drove the project.

Clear communication

Not only does the project owner or the product owner need the innate skill to convey the problem statement or the solution in simple terms but they also need the ability to explain project details and communicate across all levels of an organisation in a continuous form of cadence. This person needs to be the glue of the implementation that holds it all together and communicates clearly and regularly. 

This could be a huge challenge for companies who do not have a CTO or equivalent to manage the delivery from ground up.

Do you have a problem you want to find a solution for?

Book a 30 minutes complimentary call with our Business Analysts

The COVID-19 pandemic and consequential circuit breaker has exposed challenges many of us were not aware of.
We are here to help you and your company solve your current biggest, digital challenge.
 
As a special offer to you, we give you a free half hour consult with our Business Analysts to review your current challenges and give you advice on a solution with no obligations. This is just our service to you, to help you in this challenging time.

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