Projects and programmes are an increasingly important way of building and growing businesses, making change happen and creating and delivering services.
The Oxford Research Group published their analysis of over 12,000 projects and found that only 0.5% of those managed to deliver to Time, Budget and to meet their benefits expectations. It has been so consistent that it is now recognised as “The Iron Law of Megaprojects”.
The response to this statistic is to analyse the causes of those failures, define root causes to systemic failures and communicate widely the information and tactics to help foil project failure for us all.
Principles:
- Tackle Root Causes whenever you encounter symptoms of failure.
- Apply double loop learning when implementing resolutions or fixes.
- Seek systems to implement when analysing problem domains.
- Seek solutions within your own sphere of control to reduce complexity.
