All company initiatives face the risk of failure. It is imperative that the symptoms of potential problems be recognized as early as possible and corrective action taken to bring your initiative to a successful conclusion.
Not recognizing the early warning signs your initiative is having problems can substantially increase the probability your initiative will fail. Early recognition of potential problems will provide you with the time needed to address the issues and get your initiative back on track.
Top 5 Signs Your Initiative is Going to Fail:
- Communication breakdown between team members
- Poorly attended project meetings, executive sponsor absence
- Vendor delivery team delays
- Missed short term milestones
- Short term budget over runs
Bottom line – what we find is that most of the time, these “signs” are associated with poor management of the initiative coupled with the lack of a formal roadmap and control mechanism for success.
Recognizing the signs that your initiative is having problems as early as possible is critical so you can take corrective action and limit the risk that you will fail. Ignoring the signs can have a terminal effect on your initiative. The sooner you take corrective action the better are the chances that your initiative will succeed.
Keeping your finger on the pulse of the project, watching out for clues the project is having potential issues and reacting to the signs of failure as quickly as possible are key ingredients for successful project management.
We dissect the data and apply the knowledge, in The MAS Analysis Platform for Enterprise Excellence™, a model driven approach that marches digitization initiatives quickly to success.https://www.youtube.com/watch?v=9uOETcuFjbE
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