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How to fix the ROI of high stake projects

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Also read Turning Around Failing Projects

In business project teams are everywhere. Project teams are generally put together to deliver a high-value outcome that requires collaboration between different people over a long period of time; individuals come from different organizations, sometimes departments within the same organization, sometimes different organizations ,e.g., client-supplier teams, outsourcing of critical project services such as IT.

What projects have in common is that they require the pooling of information, skills and knowledge across entities to get the work done. What they also have in common is a high rate of failure ranging from outright cancellation, cost overruns, delays and damaged relationships.

Most projects get off track right away. When we are called in to help a project in trouble, what we find invariable missing is a true sense of identity and clear purpose for the project team. Teams usually jump into the project without checking their assumptions and their understandings about how they will work together. Taking a few hours to set up the project team properly as to issues of leadership, strategy, culture and process from the start is key.

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