Failure is not an alternative to success. It could be avoided by observing early signs of warning and executing the right initiatives. Everybody encounters failure at one point or other but what truly matters is how you react to it and learn from the failure.
In this article at CIO, Moira Alexander suggests that some failing projects have the worth to bounce back only if the project managers read the early warning signs on time.
The path between project initiation and failure is short. While not every failing project has the hope to recover, but some can. Often, the project managers lose hope at an early stage when quick fixes may turn productive. The author explains few easy ways to read the signs and make strategies to beat the mishap.
- Signs of Trouble: If the project managers keep a close watch on each project steps and give attention to the emerging signs of a problem, they can avert any disaster. The major signs of failure include poor communication among teams, growing conflict, fall in project buy-in and a frequent slip of deadlines. Before analyzing and addressing the reason for failure, turn all these signs towards its positive side. Establish seamless communication within teams, avoid conflicts, adhere to deadlines, and aim for improved project buy-ins.
- Set Priority: As you build understanding towards signs of trouble, determine the issues that need to be addressed early and support it with appropriate reasons. Track project activities to ensure if all the activities are making sense to project goals. Eliminate the tasks or issues that are having a negative impact on the project.
- Immediate Action: Often action defines the future consequences or results. Therefore, take immediate action to fix or address the issues and recover a failing project. Anything less will not suffice in eliminating the risk of failure. So, assign resources to address priority concerns, review priorities, and closely monitor its progress.
The author suggests recognizing when to kill a project as striving to save a failing project that no longer serves the business needs is not wise. Click on the following link to read the full-length article: https://www.cio.com/article/3268414/project-management/how-to-get-a-failing-project-back-on-track.html