How most projects miss, lose or destroy more value than they deliver.
After all of the cost-cutting, downsizing, outsourcing and efficiency drives over recent years, there remains one last bastion of excessive waste - “projects”.
Poor and failing projects contribute enormously to waste. But the waste is mostly invisible. It comes in the form of loss of capital, missed business opportunities, and cash burnt by the project for little return.
Projects have escaped the scrutiny applied to other areas of waste in organizations, in part because:
- The measures of project success remained focused on the inputs – on-time/on-budget – while the measures of project output value have been fudged, compromised or ignored;
- Poor governance has meant the business has become complicit in perpetuating the problems: by approving cost increases and accepting compromised results and the like;
- The industry stakeholders - vendors, contractors, consultancies - have a vested interest in the status quo as this allows them to make money at the client’s expense.
Most projects miss, lose or destroy more value than they deliver. The consequences of this waste are enormous:
- Over expenditure
- Loss of competitiveness
- Significantly reduced profitability
- and more.
Improving organizational performance by eliminating the invisible waste on projects is the massive business opportunity “hiding in plain sight”. It is possible to double or triple the value delivered by your projects, even as you simultaneously reduce delivery costs and create a sustainable competitive advantage
In this book, we detail how and why projects are wasting money and opportunities, and what you can do about it. For all managers accountable for project results.
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