Get the facts right
- The failure rate of IT Projects can be alarming; per Gartner, approximately 74% of IT projects fail, are late, or go over budget.
- META GROUP REPORTS that a staggering 55 percent to 75 percent of all CRM projects fail to meet their objectives.
- On average, about 70 percent of all IT-related projects fail to meet their objectives, so CRM's failure rate -- along with the appalling 70-percent failure rate for ERP implementation projects and the shockingly high 70-percent failure rate experienced by those implementing SCM (supply-chain management) -- is about as distressing as a 70-percent failure rate for a hitter in baseball.
- Don’t be a statistic in your organization.
Analysis
- Successful project management is about managing risk. One of the most common ways of bringing together people from different backgrounds and often different enterprises to achieve project success is to use a formal project management structure (PMS).
- This makes sure everyone understands how the project is organized and what to do next.
- The best PMSs also aid project planning and give project managers early warning of time overruns and scope creep.
- Two of the best-known PMSs are Projects in Controlled Environments
- PMI, from the Project Management Institute in Pennsylvania, United States
- (initially PRINCE, now PRINCE2), originated by the U.K. government
