CHALLENGES OF PROJECT MANAGEMENT

Alignment between projects and their business objectives

 The purpose of a project is to advance one or more business objectives. Most projects start out closely aligned with these objectives, but gaps inevitably appear. Projects drift and business objectives change and evolve. Without redirection, projects and deliverables end up failing to meet expectations.

Late or delayed projects

 Late projects wreak havoc, delaying the time at which a company can start reaping business benefits, thwarting precise payback period calculations and disrupting the long term return on investment.

Dependency conflicts 

Most projects are interrelated, sharing people, equipment, resources and deliverables. These dependencies mean that a single project delay has a significant ripple effect on related projects, disrupting schedules, causing resource conflicts and even triggering expensive contingencies, in order to minimize risks.

Execution difficulties

 Problematic execution wastes resources, time and opportunities, diverts management attention and hinders project delivery.

Overlapping and redundant projects

 Overlapping projects are responsible for major inefficiencies and wasted budgets, time and resources. At their worst, they undermine each other’s progress and potential benefits. Redundant and duplicative projects are also unprofitable, increasing costs, prolonging schedules and diverting resources from more deserving projects.

Resource conflicts 

Companies rarely have sufficient resources to staff all projects concurrently. As such, projects compete against each other for resources, and people are often assigned to several projects at the same time. Those with special expertise of scarce skills may be in high demand, causing bottlenecks

Unrealized business value

 A project is a means to an end. Ultimately, every project generates deliverables that the company uses to derive business value. When those deliverables arrive late or are incomplete, the business loses opportunities  whether to earn revenues, acquire customers or perhaps fix a problem.

Diffused decision making 

Many executives are unable to obtain the right information at the right time to effectively understand the present position of the business in order to communicate unwelcome surprises and/or communicate potential opportunities before the competition.

Lack of accountability 

Failure to continuously monitor and communicate project milestones in real time, and budget performance, dilutes project accountability and responsibility.

Fragmentation

 Fragmented planning and resource processes and tolls lead to an inability to systematically communicate and fine tune multiple project scenarios, resulting in regular unforeseen slippages and problems.

BY CHAMI FRIDA A

BAPRM 42690