Is Your Project Hitting Rock Bottom? Follow These Tips to Recover

In all projects, the manager and their team manager works towards attaining the end objectives to avoid unnecessary failing projects.

Project managers should develop a clear plan and assign tasks appropriately. In an ideal world, activities will run smoothly, and the venture ends successfully.

But sometimes things don’t go south, and the result is failing projects. Such non-performing projects can affect PMs severely. Blame typically falls upon the manager when a project fails.

According to past studies, the project failure rate is quite high. Almost 40 percent of company projects fail. A loss of finances and clients may occur as a result of such scenarios. When such double-tragedy happens, investors may think twice before giving resources to start new projects.

 The Primary Causes of Failure

failing projects

Before a project fails altogether, there usually are signs that indicate that things are not running well. Indicators such as slow progress and inconsistent administration clearly show that something is wrong. A critical project decision may also affect the success of a scheme.

Symptoms that your project is failing may not be inherently apparent at times. Certain elements should be diagnosed and identified so that you can know that something is truly wrong.

One aspect can rarely be responsible for the failure of a project. Failing projects are mostly as a result of two or more factors that affect the overall progress. When you face lots of stumbling blocks, we have a higher chance of failure.

So what are some causes of non-performing projects?

  1.  Poor project planning and organization

Planning can make or break a venture. Poor planning and execution of the project action plan can result in delays and incompletion of tasks.

Poor planning leads to a scheme that is not practical. Such plans are generally unrealistic. Objectives are unattainable, or there is no clear description of the goals.

Budget inconsistencies may also affect how activities happen within a venture. Budget creation is a critical project decision that requires attention to detail. Incorrect estimation of costs may lead to a halt of operations due to a lack of funds. Misappropriation of funds may occur as a result of overestimation.

Most project failures are a result of poor implementation. The creation of an action plan is something that most project managers do, but issues arise when it comes to its execution. Inappropriate use of management systems can affect the implementation phase of the project plan.

  1.  Human resource complications

Human resource is an asset in any project. Personnel working within a venture play a critical role in achieving the end goals. A lot of issues may arise out of human resource complications. Poor communication is any major problem that can appear within the human resource.

Miscommunication between administrators and staff may cause a drop in morale. Motivation problems may lead to an overall decline in work efficiency. Lack of communication also limits collaboration among staff.

Collaboration can only occur when the workforce understands each other’s objectives and work together to attain them. As a result, delays and a decrease in work quality become the norm within the project.

Without proper communication, the workforce may not even understand the expectations of the management. Lack of clearly defined tasks and deadlines by the administration may lead to confusion within the crew. Such inconsistencies are a sign a major issue must be fixed.

Another human resource issue is overworking or underworking staff. Overworking personnel results in loss of motivation and a rise in frustration. Work activities will not be efficient, and some employees may even decide to abandon work.

Underworking the workers may also lead to overall laziness.

 Project Management Myths and Misconceptions Leading to Failing Projects. 

Rumors can lead to poor project management. Some of these ideas are so popular; you’ll almost certainly fall for them.

  1.  The PM has the solution to all problems

It is normal to encounter problems during a project. The complications may range in severity and number. Difficulties may also occur at the beginning, middle, or end of a project.

Most personnel have the belief that the manager should handle all project issues. Such a notion is far from the truth. The capable team of experts can step in to address smaller problems— that’s the essence of working as a team.

In an ideal situation, project managers should only deal with issues beyond the authority and capability of their teams.

If a workforce is efficient, a manager may not even hear of the minor problems in a scheme. The employees will handle and solve such trivial matters to drive the project to its final goal.

Project managers should understand that some issues are beyond their reach. Something may occur within the venture, and you may lack the expertise to resolve it. When this happens, it is best to swallow your pride and admit you need help.

Getting help externally or internally can help resolve issues ASAP.

  1.  Deadlines matter more the quality of the deliverable

Effective time management is essential in any project. Time determines how long activities will run as well as deadlines. During a project, the client expects to receive a product or service before or within a set period.

Changes and uncertainties may affect the course of the project resulting in a time deficit. Many project leaders believe that rushing activities is the best course of action.

Such project management myths lead to the release of a substandard product/ service. Rushing the project process affects the quality of the results. It is always best to prioritize the quality of outcomes over deadlines.

  1.  Multitasking beats doing one task at a time

Project managers like to believe that running tasks simultaneously ensures efficiency. However, this is far from the truth.

Computer systems can multitask as they can run several tasks at the same time. Computers can take on two or three different functions at a go.

Human beings tend to switch in between activities rather than multitasking. Switching quickly from one activity to another can be tiring.

When exhaustion takes the best of us, it is harder to concentrate on any activity. A drop in work productivity and efficiency then occurs.

Research shows that it is better to concentrate on one task at a time. It guarantees good quality and reduces burnout.

  1.  A buzz of activities indicates high productivity

Projects have a specific schedule where employees work. Project managers assume that working staff are productive employees.

Such project management myths can be detrimental to your bottom line. In a real sense, an up-and-down team is not a good indicator of productivity.

Personnel may be at work for ten hours but only productive for three hours. Employees may even pretend to be busy because the management is around. Once the project manager leaves, constructive work ceases.

Effective project management involves the use of a monitoring system. It analyses all activities and reports at the end of the day, week, or month. Project managers can see whether individual staff are working towards the project’s objectives or not.

  1.  Successful projects are an indication of future success

Project managers tend to use their prior success as a guide to current projects. Some administrators go far as boasting of previous feats. Nonetheless, past success does not automatically mean you’ll be victorious in the future—each project must be treated as unique.

Things may not work out to your benefit, like in the past. Variations in methods, tools, personnel, and other factors can affect the outcome of a project. Small differences can result in a significant effect.

It is not a mistake to be proud of prior successes. Project managers should enter new projects with an open mind. Trying to apply one technique to all projects can fail.

Follow These Tips to Recover from Failing Projects

failing projects

Rescuing a failing project can save funds and your reputation as a project manager. Let’s discuss the critical project decisions you can make to rescue a scheme from failure.

  1. Steer the project activities to work towards the set objectives

In most instances, projects tend to lose focus on the end objectives. A leading cause of this mistake is putting interest in daily tasks instead of the goals.

Project managers should ensure that the entire staff focus on attaining the final goals of the venture. Employees should ensure that all the tasks they carry out contribute to accomplishing end objectives.

  1. Make use of a robust project management system

Some failing projects often require an efficient monitoring and planning system to get back on track. Project management systems help a manager to organize, assign, and track project activities with ease. Improper use of such a system may cause havoc within your project.

Project managers should understand how the software works and make optimum use of its features to ensure activities to drive processes smoothly.

  1. Prioritize teambuilding

Project managers should ensure they train, motivate, and communicate with their workforce. Creating a friendly and supportive working environment for staff will improve the efficiency and quality of work. Clear communication provides the crew with specific targets that they can focus on during project tasks.

Collaboration between different departments allows for faster completion of activities. All these benefits are made possible by conducting active team-building activities.

Closing Up

Failing projects can be a real test for project managers. A miserable project that’s going south takes many resources to bring back to life. Early detection of dwindling schemes is essential in ensuring quick and cost-effective restoration.