37% of an organization’s projects are at risk of failure.*According to research findings from TAGBESCONs’ Strategies for Project Recovery research.
With so much at stake, fast action is the key to avoiding losses associated with project failures.
TAGBESCONs’ project recovery experts begin by reviewing of the project’s current state to identify the areas in jeopardy. Common areas of concern often include issues with scope, resource availability and/or capability, roles and responsibilities, and project monitoring and control. We will present our assessment to the senior leadership team recognizing the project’s accomplishments to date, while calling out the major issues that caused it to veer off track. A corrective plan is provided as part of this presentation.
Once the plan is accepted by the organization, our recovery experts will lead the turnaround initiative, or you may choose to have us mentor your project team through the recovery process.
Common Symptoms of Troubled Projects
- Critical issues in meeting milestones or completing deliverables
- High risk of non-delivering anticipated benefits
- Resources are not fully allocated to the project
- The project is consistently behind its planned schedule
- They are critical and/or significantly growing technical issues with the project
Top 5 Actions Taken to Recover Projects
- Improving communication, stakeholder management
- Redefining the project—reducing the scope, re-justifying the project fi nancially
- Adding and/or removing resources
- Resolving problematic technical issues
- Replacing the project manager or bringing in a consultant to manage recovery