In today’s globally competitive era, thousands of projects are being conceptualized and signed by the hour. But not all are completed within the allocated time. Only a handful of these projects are 100% accomplished while the rest are buried, wasting millions of dollars. Factors such as miscommunication in the team and lack of collaboration with clients and sponsors contribute to why projects fail.
Of Being Rational
Traditional project management was cited as a reason why business ventures fall out by Benoit Hardy-Vallee because of its lack of proper engagement with the stakeholders and the team.
Also known as waterfall management, it follows rules and procedures to make sure that everything is in order. Even the tiniest of detail is to be listed down. Traditional project management’s well thought out planned can be seen as something great. However, this controlled and shelf process, more often than not, is the reason why ventures fail. The lack of versatility to meet unforeseen events and act upon them is one of its major flaws.
It forgets the human factor, especially the emotions of those in the project. People are likely to be concerned more on how to get the job done rather than the result once accomplished. Therefore, its lack of engagement and collaboration leads to failure.
Of Behavior and Emotion
Hardy-Vallee suggested the use of behavior-based project management in companies and businesses for a higher rate of success instead of the traditional approach.
It is done by aligning and measuring the engagement of team members and stakeholders. The engagement level of team members is based from motivation, involvement, and commitment. Meanwhile, stakeholders’ such as project managers, sponsors, and customer level of engagement are based from their integrity and passion for the project, confidence on the team, and pride on the team and project.
Unlike the traditional approach that concentrates on the process and rational side of things, behavioral management enables a team to have a better performance, involvement, and commitment to complete the task and project.
These approaches have been tried and tested by time. They are quite efficient in delivering the job on their own. But putting these two approaches together can create a higher rate of success.
Early 21st century businesses and companies started using the Agile Project Management when handling their day-to-day transactions. Based with the use of technology, it has a good grasp on organization that even the tiniest of detail is iterated, thus, exposing problems from lack of talents to defective work output. Through this, authorities can immediately address these issues, earning the name extreme project management.
A report by Standish Group on 2012 shows its high success rate of 42% which is three times bigger than the traditional’s 14%. Meanwhile, agile has a lower failure rate with 9% compared to the latter with 29% rate. Putting businesses in a very advantageous position, the project management tools’ attention to detail which directly affects the project is its very strength .
Those involved can easily scrutinize the process and product and adjust to its shifting needs. It gives the stakeholders and the team, capability to move forward the desired results of their clients and customers. It goes to prove that the use of technology doesn’t mean forgetting the custom and the human side of things. It can combine contrasting approaches to create a better and optimize solution.