Countless projects fail. But failure is a common risk of doing business, and it is important for each company to ask “why did this project fail?” There are a number of reasons, but this eBook is going to analyze the top 6 reasons projects fail, and shed some light on how to protect your company from failing.
Project failures can come with significant financial, time, and resource costs, which is why effective project managers are worth their weight in gold. Make sure your project management team is aware of the most common project pitfalls, as well as methods of addressing them. If you want to avoid costly project failures, make resolving these key issues your management team’s top priority.
So what are the top 6 reasons why projects fail? Poor pre-planning, no project sponsorship, poor budget management, inadequate resource planning, overpromising and under delivering, and scope creep are the top 6 reason why projects fail.
Managing a complex project is never going to be easy, but avoiding major breakdowns will surely make it a much more pleasant experience. If your company needs a new system to manage projects more effectively, try a business management solution.