Corporate Project Management Challenges
Everything is a project; which means that project failure is NOT an option.
Projects are the mechanism by which companies get things done. Whether projects exist to implement new services, develop and release new products, improve internal processes, upgrade systems, impact customer experience, or manage company growth and expansion; results matter. Project success or failure, clearly impacts the overall achievement of corporate goals and influences the bottom line.
What is the big deal?
We understand that it is difficult to build an effective project culture and that root causes of project challenges can take some diligence to identify and resolve. You may be asking…is the view worth the climb? TwentyEighty Strategy Execution’s three decades of client success stories certainly reflect substantial savings, efficiencies, skills development and increased project certainty. What is the cost of leaving projects to chance and ignoring corporate challenges? Consider how the following insight might translate to your organization:
PMI indicates that fewer than 2/3 of overall projects meet their goals and business interest and about 17% fail outright. For every $1 Billion on a failed project, $135 million is lost forever….unrecoverable. (According to Project Management Institute, Inc. (PMI), 2013 Pulse of the Profession report)
Common corporate challenges to project success are clear.
After thousands of engagements, here are some of the typical corporate challenges that our clients ask us to help resolve:
- Troubled Communication, Team Collaboration and Project Leadership
- Imperfect Estimation and Initial Planning
- Inadequate Risk Identification and Mitigation
- Poorly defined Requirements and pained Scope Management
- Insufficient Resource Planning and Management
- Inconsistent or unknown Methodology and Process
- Imperfect Project Prioritization and Portfolio Management
- Inability to identify or turn around Troubled Projects
- Weak PMO Influence on the organization
- No understanding of Individual or Team Skills, Competencies, and Gaps and no way to measure progress
- Deficiency in critical Fundamental or Advanced Skills on the project team
- Failure to scale process and governance within Global, Enterprise-Wide Programs
- Inefficiency within the changing Business Analyst Role
- Challenged Stakeholder Engagement
- Weak alignment of Managing Programs to Business Strategy
Uniquely the same.
While TwentyEighty Strategy Execution understands that common challenges exist and have created best practice Solutions to address them, we also recognize that every organization has a unique set of project management challenges. When it comes to a Solution for our clients; one size fits one.
Different client scenarios demand varied and customized content, delivery modalities, and competency development areas that will best resonate with specific learners, processes, and culture. TwentyEighty Strategy Execution’s Project Management Solutions are thoughtfully assessed and crafted, time and market tested, and ever-evolving to meet the changing face of your business today.
For more information, email firstname.lastname@example.org.