TAILIEUCHUNG - Strategies for Project Recovery» A PM SOLUTIONS RESEARCH REPORT

Others want no structure. They like to let the future unfold as it will and to creatively adapt to its conditions. They feel that struc- ture gets in the way of creativity and it is unrealistic to tie themselves down. This division between the structured and unstructured schools of thought is one of many such dichotomies. The knee-jerk reaction to dichotomy is conflict; however, in the wisdom way, we apply the prin- ciple of balance, that dynamic state of ease that occurs when all oppos- ing forces are present to the right degree. There is nothing in excess and no. | pmsolutions research Strategies for Project Recovery A PM SOLUTIONS RESEARCH REPORT 2 Strategies for Project Recovery WHAT S AT STAKE The statistics regarding project failure are sobering. According to this survey firms on average manage 200 million in projects each year. During that time these organizations will realize that 74 million of their projects are at risk of failing. Table of Contents Strategies for Project Recovery 3 Projects at Risk 4 The Positive Influence of Processes 5 Causes of Troubled Projects 5 Project Recovery 6 Key Success Factors 7 About PM Solutions 8 About the Survey Whether a troubled project ultimately succeeds or fails depends on the effectiveness of the actions taken to recover the project. Before these actions can be taken however organizations need to be able to recognize problems and prepare to take appropriate corrective measures. PM Solutions has conducted this benchmark of current practices in recovering troubled projects to help identify the factors that may lead to the development of strategies for successful project recovery Can troubled projects be recovered or are they doomed to fail What are the root causes of troubled projects What is their cost to organizations What do firms do exactly to successfully recover troubled projects About the Respondents Number of Respondents 163 Roles of Respondents C-Level 11 VP or Director-Level Business Management 6 VP or Director-Level Program Project Management 11 Head of PMO 23 Program Project Manager 42 Other 7 Size of Organization Large 39 Mid-sized 25 Small 36 Industries Professional Technical Services 23 Manufacturing 13 Information 13 Finance Insurance 12 Healthcare Social Services 7 Utilities 7 Public Administration 6 Education 5 Other 15 2011 Project Management Solutions Inc. Strategies for Project Recovery 3 Strategies for Project Recovery The statistics regarding troubled projects are sobering. According to this survey firms on average manage 200 million in projects each year and

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