For more than three decades, we have been fixing projects. Yet despite the committed effort by some of the brightest people on the planet and improvements across many aspects of project delivery for example:
- adoption of project management methods and disciplines;
- installation of project management software and tools;
- increased numbers of highly skilled ‘specialists’: architects, change managers, business analysts, benefit managers allocated for even small projects;
- and finally, some increased focus on getting benefits and value from projects.
The results are, frankly, still not good.
When measured against the conventional success measures of “on time, on budget”, the generally quoted statistics indicate that around 30% to 40% of projects are successful. But when measured against “did we actually get business results and value” as the measure of success, the results are far poorer (indeed depending on whose statistics are used, less than 5% or projects are successful in delivering value and results).
So, what is going wrong? What do we have to do to improve the value delivered by projects?
This video walks the viewer through where and how value is destroyed, and therefore starts to lay out a pathway to improve the value delivered. It explains how a simple mental model, the TOP Value Equation™, can be applied to make improved project value something that every business and project manager can achieve.