TAILIEUCHUNG - Global IT Project Management Survey - How committed are you?

Budgets never work out exactly – some things cost more, occasionally less than you think. If you can convince those who are providing the money, try to build in an extra 5% for “unforeseen expenditure” Budgets never work out exactly; you need to be flexible, perhaps saving in one area to cover extra costs in another If you are over budget, don’t try to hide the facts – present the problem as clearly as you can to those in charge Build in a financial review into every progress review meeting. | INFORMATION RISK MANAGEMENT Global IT Project Management Survey How committed are you The findings at a glance Boards and executives are making increasing commitments to achieve business results through project outcomes. These commitments are delivered through projects and are often articulated as project benefits in a business case. Both compliance and performance initiatives drove and continue to drive increases in project activity budgets and complexity. The success rate has marginally improved since our last international survey when defined by traditional on-time and on-budget measures but the definition of success has evolved. The most popular definition of success now is meeting promised project benefits - in other words keeping commitments. Using this new benefits definition project success is often a matter of interpretation. For the majority of survey participants project success appears to equate to achieving an acceptable level of failure or minimizing lost benefits. Project governance practices today tend to focus on making commitments not keeping them. That is executives are often involved in selecting and approving projects but rarely involved in delivering them. Inadequate benefits management processes are preventing the articulation of program and project success in the majority of cases. This creates a largely unquantifiable degree of benefits leakage. For those that measure benefits on average they are forfeiting up to one quarter of the promised business case benefits across their entire portfolio commitment. Summary The top line gets punished as well with customers often impacted by project failures. This amplifies the cost of failure. While the discipline of project management is maturing in professionalism and profile only a minority of organizations invest in project management capability development. Increased success or less failure is achieved by adopting a range of good individual practices. However a collective and systematic approach .

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