PROJECT MANAGEMENT

This article was written based on research done in collaboration
with University Of Oxford. It briefly describes about the IT projects, their
failures and also the techniques that should be followed to avoid failure of
the projects. It states on an average 45% of the major IT projects crosses the
expected budget, 7% of the projects will exceed the expected time and thus becomes
a failure.

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In the exhibit1, it is clearly shown the graph of
performance of different projects. It can be observed that software projects
are having higher amount of cost runover when compared non software projects.
And on an average 33% of software projects exceed the average scheduled time
and it is only 7% in the case of non-software projects. When compared in terms
of benefits nearly 133% of non software projects are not reaching the expected
benefits where software projects are taken into account it has 1/8th
value compared to percentage of non software projects.

In the exhibit 2, it can be explained that the IT executives
have grouped the reasons that caused the failure of project into four
categories. Those four categories can briefly explained as below;              1.Missing focus: lack of proper view over
objectives; and also of not having proper business focus.   2.Content issues: Do not having proper
information regarding shifts of the employee and also problems caused by
technical complexities.                                                   
                                           3.Skill
issues: These are issues generated because of improper grouping of members into
teams like creating a team should be done in such a way that team should be
comprised of different talented people.                                                                       
                                                                                                  4.Execution
issues: Issues which are generated because of improper scheduling and reactive
planning.

In the exhibit 3, it is describing about the factors which
are related to the success of the project.

Reasons for the failure of the project :-                                                                                                                       
1.Main reason for the most of the projects to fail is budget overrun, it
means the project is crossing the expected budget limit.                                                                                                                                             
2. Lack of knowledge in accessing the project before starting it , like
improper knowledge over the objectives, focus , scope of the project and
improper scheduling, planning and execution of the project. These reasons also
result in the failure of the project.

Major reasons for the success of the project:-

1.Managing strategy and stakeholders:- To make a project
successful one(project manager) must analyse the project and then develop a
strategy and also have a healthy relationship with the stakeholders.                                                                                                                                                                       2.The
project manager and also the team members should have wide range of talent in
the technology and also have the good amount of information over the project
initiation.                                                                                                     
3.The project manager should build the team in such a way that every
individual should work in team oriented and also that each member is good at
his designated work and also loyal to company.      4.Excelling at project management
practices:- This means the one(project manager) is guiding the team should have
a good past history in the project management. So eventually he/she would
follow the best methodologies in creating the project.

This article has a good statistical amount of information
regarding the reasons for the failure as well as success of the major IT
projects. By reading this article it also helped me in knowing the exact
reasons for which the many of the projects remains as a failure and also I
guess mostly the project manager plays a key role in success or failure of the
project.