The trend of project failure is ever growing and the proportional impact to Cost Vs Time is; 200% Vs 70%. This clearly shows that 1 unit failure on time Would have 3 fold more impacts on cost. Many project clearly see the 200% loss and try rush to fix cost. Only few project professionals realises that its schedule (time) blowing out the cost and fix the schedule instead. We emphasise our client to balanced execution of Perfect programme from the begin and applying Project control tools from the beginning. This would give the controlled and projected visibility Of our project parameters to discuss and review on time. The trend (graph) definitely help to better know the Forecast Vs performance and area requiring immediate Attentions.
Over 1 in 3 projcets have no baseline
In US alone, $122millions (for every $1 billion) is wasted due to lack of project performance.
Less than a third projects successfully completed on time and on Budget over past year.
98% organisations believe project management is critical for successful business performance.
80% of project management executives don’t know how their projects align with their company’s business strategies.
One third projects fail because of lack of senior management’s timely involvement.
44% of Project Managers use no PM software
Use of commercially available PM software increases performance and satisfaction (source PWC)
Two third (66%) of IT executives believe their projects are “doomed from the start)
High-performing organizations successfully complete 89% of their projects, while low performers complete only 36%.
Source: Project Management statistics (internet)