Project Management Professional (PMP) goal is to delivery of projects within stated time and within the stipulated budget. Successful projects are those which meet the needs of the customers and the standards set by the organization.
There are a number of reasons where things might get wrong and the project becomes a failure. The stakeholders do not approve the project. Customer start thinking they are more costly. Customer will think the costs incurred while completing the project are more than the estimated limit. The reasons can be anything. A qualified and experienced PMP is aware of the chances of project failure and prepares accordingly.
Top 5 reasons for project failure
Listed below are the top 5 reasons for project failure and how PMPs help organizations avoid them:
Absence of Clear Project Objectives:
No project can become successful without setting the goals and objectives clearly. This is very easy step and it gets sidestepped in large business enterprises. This gets neglected while focusing on other seemingly important matters.
The absence of clear project objectives directly impacts the project delivery as there are no standards set by the project management team that the project needs to be matched with.
PMPs use the SMART framework to define the objectives of a project. SMART stands for Specific, Measureable, Attainable, Reliable, and Time-bound. Thus with these criteria PMPs can ensure that the project goals are time specific as well as achievable.
Lack of Communication:
This is another major reason for the failure of projects in an organization. The lack of effective communication between the project management team impacts the productivity of the project. Therefore, project managers need to act as leaders and communicate the objectives of the project clearly among the team.
Check with the team and its routine assessments of the project and checking with the team. Knowing where every team member is at in the project development process will help project managers evaluate the project delivery cycle.
Insufficient Resource Planning:
Resources can be financial or human or technical that are required in getting the results. PMPs are skilled in managing the resources to meet the project requirement.
Failure in managing these important resources leads to project failure.
By effectively managing the financial resources and the human resources needed for the project completion, project managers can ensure successful project delivery for their organization.
Inability to Delegate Tasks:
It’s common knowledge that not everyone has the same knowledge and skills to lead and manage a project. Some PMPs are much more proficient than their counterparts in terms of years of experience gained by working in the project management field or by polishing their skills through training and certification.
One cannot do everything on their own. Thus delegation of tasks becomes very important.
Project manager is skilled to identify the right person to do a particular task, they help their team members in managing the projects efficiently. They can act as mentors to their teams while leading the projects towards the desired result.
Inflexibility to Changes:
Despite the amount of planning and evaluating of each stage of project development, there is still a chance of project failure. These might occur due to unforeseen circumstances and are unpredictable in nature.
Thus PMPs are adaptable and flexible to changes in the market or the economy. They are ready for the future and deliver successful projects for their organization effectively.
So it can be concluded that PMPs are skilled in analyzing the problems that may arise in the project development process. These skills and knowledge can be achieved through professional PMP Certification Training.
Project manager will handle the project more effectively after the PMP training and to acheive the success of projects PMP should use few project management tools in his daily activities.
5 Project Management Tools used by PMPs
5 of the most common project management tools used by PMPs to ensure successful project delivery are as follows:
• Gantt Chart
This project management tool is to measure time and the interdependencies of several tasks in the project development cycle.
• PERT Chart
The program evaluation and review technique or PERT Chart is to analyze the tasks required to complete in a given time frame.
Critical Path Method or CPM is to determine the progression of the project. This help in project delivery schedule is followed properly.
WBS or Work Breakdown Structure is a hierarchical breakdown of the work. This tool is to complete the project into manageable tasks.
PBS stands for Product Breakdown Structure, it is a project report that gives clarity to the project aims and helps in the effective planning of the project.
Understanding the importance of project management tools in delivering successful projects for their organizations is very essential for aspiring project management professionals. These individuals can enroll in PMP Training to get a comprehensive knowledge of project management concepts and their tools.