I recently sat in on a project team management meeting. They agreed that the project (which was under three months old) was off the rails and they did not have the capability to deliver the expected benefits. I was thinking, “You could, but not with the conventional project and change management approaches you are using.”
Conventional project and change management approaches have been proven to be deficient. Although everyone works hard, is committed and tries to do their best, the results are poor. The current project methodologies focus project effort on the wrong outcomes, measure them with the wrong KPIs and wonder why they’re not a success. The time has come for a change, to create and use a new approach. We need a new Project Delivery Science.
A “Science” is based on research, study and practice. This is the source of ‘Value Delivery Management™’.
Research over 19 years into exactly how and why projects fail. Everyone seems to have a theory on why projects fail; we have studied many, many projects to identify the systemic faults and events that drive projects ‘off the rails’ into either disaster or sub-standard results.
Study of the current theories — although we have not learned anything there.
Practice in the real world — proving again and again that our new approach delivers exponentially greater results.
To illustrate — different organisations — one using conventional approaches and the other Value Delivery Management — but delivering the same project (eg a mortgage processing system) what was the difference? Three examples:
Organisation 1 Project cost = 82m VDM organisation Project cost = 19m*
Organisation 2 Project cost = 78m VDM organisation Project cost = 7.9m*
Organisation 3 Project cost = 84m VDM organisation Project cost = 35m
These differences are not marginal but exponential. (* = Same scope, smaller volumes)
It’s time for a new Project Delivery Science; its time to deliver real value!
© Jed Simms, Australia, 2009. Jed@valuedeliverymanagement.com
Further support and useful tools to help you manage your investments, projects and portfolio are available from valuedeliverymanagement.com.
For the previous article in this series visit The Self Evident Truths of Project Management: #14 - “Internal staff have the deep smarts to deliver extraordinary results".
For the first article in this series visit The Self Evident Truths of Project Management: Truth #1 - We do projects to realise the Associated benefits.
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