High-performing organizations implement proven PMI management practices.
As a result, their original project goals and business intent is reached on 89% of projects versus 34 percent for those who don’t. They also waste 13 times less money.
-PMI Pulse of the Profession 2016 (excerpts)
Success Keys
1) Proper Project Charter
2) Scope, Schedule & Cost Baselines
3) Risk Analysis steps including Risk Response Plan
4) Procurement Analysis
5) Assign project to driven leader who’s skilled in PMI’s Project Management Professional (PMP) processes, tools and techniques.
6) Create and utilize a Change Control Board. Even if it’s only made up of Key Stakeholders from the project. Board must approve changes after knowing impact to all three baselines.
The 2015 PMI Pulse of the Profession Report drove me to become a Pre Kick-Off specialist. It showed that 54% of all projects overall fail or miss the Sponsor’s objective, yet 86% of projects that use PMP Processes succeed.
Too frequently Kick-Off meetings occur without the first 4 success keys completed and consequently experience avoidable challenges throughout the project.
Project management is an art. Each PM will bring their own style. I encourage all sponsors to set your organization and it’s projects up for success.
Resources:
PMI Pulse of the Profession 2016
PMI Pulse of the Profession Overview 2015