PROJECT MANAGEMENTThis article was written based on research done in collaborationwith University Of Oxford. It briefly describes about the IT projects, theirfailures and also the techniques that should be followed to avoid failure ofthe projects. It states on an average 45% of the major IT projects crosses theexpected budget, 7% of the projects will exceed the expected time and thus becomesa failure.In the exhibit1, it is clearly shown the graph ofperformance of different projects. It can be observed that software projectsare having higher amount of cost runover when compared non software projects.

And on an average 33% of software projects exceed the average scheduled timeand it is only 7% in the case of non-software projects. When compared in termsof benefits nearly 133% of non software projects are not reaching the expectedbenefits where software projects are taken into account it has 1/8thvalue compared to percentage of non software projects.In the exhibit 2, it can be explained that the IT executiveshave grouped the reasons that caused the failure of project into fourcategories. Those four categories can briefly explained as below;              1.Missing focus: lack of proper view overobjectives; and also of not having proper business focus.

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   2.Content issues: Do not having properinformation regarding shifts of the employee and also problems caused bytechnical complexities.                                                                                              3.Skillissues: These are issues generated because of improper grouping of members intoteams like creating a team should be done in such a way that team should becomprised of different talented people.                                                                                                                                                                         4.Executionissues: Issues which are generated because of improper scheduling and reactiveplanning.In the exhibit 3, it is describing about the factors whichare 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, itmeans the project is crossing the expected budget limit.                                                                                                                                             2. Lack of knowledge in accessing the project before starting it , likeimproper knowledge over the objectives, focus , scope of the project andimproper scheduling, planning and execution of the project. These reasons alsoresult in the failure of the project.Major reasons for the success of the project:-1.

Managing strategy and stakeholders:- To make a projectsuccessful one(project manager) must analyse the project and then develop astrategy and also have a healthy relationship with the stakeholders.                                                                                                                                                                       2.Theproject manager and also the team members should have wide range of talent inthe technology and also have the good amount of information over the projectinitiation.

                                                                                                     3.The project manager should build the team in such a way that everyindividual should work in team oriented and also that each member is good athis designated work and also loyal to company.      4.Excelling at project managementpractices:- This means the one(project manager) is guiding the team should havea good past history in the project management. So eventually he/she wouldfollow the best methodologies in creating the project.This article has a good statistical amount of informationregarding the reasons for the failure as well as success of the major ITprojects.

By reading this article it also helped me in knowing the exactreasons for which the many of the projects remains as a failure and also Iguess mostly the project manager plays a key role in success or failure of theproject.