5 questions about project failure: through the looking glass of tech and transparency.
You may not want to admit it but every so often a project fails. That is, it doesn't quite hit the profitability mark. And maybe it's more often than you'd like to admit. Research suggests as many as one-third of projects don't meet the firm's own profitability metrics. And even more alarming, nearly two-thirds of firms lack the transparency to effectively measure profitability benchmarks. How is that even possible?
Even though technology continues to help streamline almost all aspects of consulting firm management, it doesn't always make it all the way to the bottom line of project success and failure. Too often, firm leaders are left in the dark as to why a specific project didn't deliver. Was it mismanaged? Were the margins wrong from the get-go? Were the wrong people doing the wrong work? Or maybe the project wasn't worth doing in the first place? Knowing the answers to these questions after an engagement-or better yet, before-is essential to a firm's success.