Rescue a Failing Project? Smart Tips to Turn Around a Failing Project
Are you being called in to rescue a project from its crisis? You will be a true leader if you are persistent, smart clientcommunication, passionate, and able to get the project back on track.
A project is in danger of being stifled by its management, with delivery schedules in shambles and budgets spiraling upwards. The existing project manager has been given the pink slip. Team morale is low and communication channels are poor. Senior management is also seeing red. Sponsorships have become an obsolete concept. The project is in serious trouble, with everything going wrong. You have been given the failing project and the expectation of turning it around quickly. What should you do?
Here’s how we think you can control the failures that make the project go berserk.
Why do Projects Fail?
Know why projects often fail before you move forward. You can see the reasons behind failure and make the right decisions.
It is not clear what the project scope and requirements are.
Project sponsors have failed to live up to their commitments, or there are insufficientcommitments.
The team members lack the experience necessary to manage the projects.
It is common to make mistakes and not plan properly.
Poor roles are not defined for project managers and team members.
Ineffective communication channels can lead to confusions, misinterpretations, and other problems. make things worse
Steps to Takeover a Failing Project and Turn it Around
Do you know why you were chosen to lead this failing project? You have likely managed such a project before and have the necessary skills and knowledge to save the project. Before committing successful recovery,it is essential that you make practical and achievable goals, set the right stakeholderexpectations, and start familiarizing yourself with the nuances and critical areas of theproject.
All project documentation such as plans, charters and scope, specifications, etc., should be procured. Go through all documentation in detail. Call for conference calls with key stake holders and members of your team to discuss the causes of the project’s demise, identify the solutions, and seek any assistance that may be needed.
For the core team involved in the project, call for formal meetings. You can learn more about each member of the team, discuss your ideas and present yourself to the group. Also, you can compare the scope of the original and current work, as well as why things have changed. To gain a deeper understanding of the process, you may want to discuss budget overruns, current state of deliverables and new estimates.
These meetings can be used to identify the root causes and challenges that have caused problems for the project. After gaining sufficient knowledge about the points above, create a damage assessment report.
To assess the project situation, call for a damage assessment meeting. This will allow you to report the findings to the senior management as well as other key stakeholders.
Next, create new project plans that include a clearly defined scope, realistic goals, and long-term goals. Proper planning strategies will help you identify obvious issues and plan the route for the different phases. It is essential to create a new planning document that includes all the necessary elements, such as an executive summary and objectives.