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Here's a more detailed breakdown on the problems:
Poorly defined scope
A lack of clear project scope or requirements can lead to scope creep, where additional work is added without adjusting the timeline, ultimately causing delays.
Ignoring dependencies
Failing to account for dependencies between tasks can lead to unforeseen delays when one task is delayed, impacting others.
Communication breakdown
Lack of open communication creates a gap between what is planned and what is realistically achievable. Team members may fear negative repercussions or be reluctant to raise concerns, leading to a misaligned project vision.
Vendor delays
Relying on external vendors can introduce unforeseen delays if their work isn't completed on time.
Impact on decision-making
Without a clear understanding of potential problems, project decisions are made based on incomplete information. This can lead to decisions that are not optimal, potentially escalating issues later in the project.
Risk management deficiencies
Not adequately identifying and assessing potential risks can lead to unforeseen issues that cause delays.
To make the situation worse, according to Google AI Overview, lies and misrepresentations are unfortunately common in project plans due to a variety of factors, including the desire to present a positive picture to stakeholders, the pressure to maintain a tight schedule, and the tendency to overlook or understate potential problems. This can lead to inaccurate project assessments, unrealistic expectations, and ultimately, project failures.
Consequently, the success rate of large projects is generally low, with many studies showing that a significant percentage fail to meet their objectives. For example, one study found that only 9% of large projects come in on budget and on time, and less than 1% come in on budget, on time, and deliver expected benefits. Another study indicated that 85% of large IT projects fail, according to Google AI Overview.
See also Google AI analysis >>
Why 
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provides you a comprehensive
picture of recent, current, and likely future of your infrastructure and operations.Project
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Why is cool!
is cool! provides you a comprehensive
picture of recent, current, and likely future of your infrastructure and operations.Traditional PPM depending on people always telling the truth
Problems can't be effectively uncovered in a project plan without people acknowledging them because project plans are based on assumptions and estimations, and those assumptions are often rooted in a lack of full awareness of potential issues. If individuals involved in a project are hesitant to share their concerns, the plan might not accurately reflect the realities of the project, leading to delays, cost overruns, and overall project failure.
See also Google AI overview >>
Lack of full awareness of potential issues
in project planning
Lies are common in project plans
The industrial average large project failure rate is 99%
Question: Can problems cannot be effectively uncovered in a project plan without people acknowledging them?
×Google AI Analysis:
Yes, problems cannot be effectively uncovered in a project plan without people acknowledging them. Acknowledgment is crucial for identifying and addressing potential issues, including risks, blockers, and areas for improvement. Open communication and feedback from team members and stakeholders are essential for building a comprehensive understanding of the project and proactively addressing potential problems.
Here's why acknowledgement is vital:
Identifying Project Blockers and Impediments:
Recognizing and naming project blockers (obstacles that prevent work from progressing) is a crucial first step in eliminating them.
Validating Assumptions and Constraints:
Ensuring that underlying assumptions and constraints are accurate is important to avoid project derailment, which can happen if assumptions are flawed.
Uncovering Potential Risks:
Stakeholder collaboration can help uncover potential risks that could have a negative impact on the project, enabling proactive mitigation strategies.
Learning from Experience:
Capturing lessons learned throughout the project, especially during phase-gate reviews, helps the team identify what worked well and what could be improved in the future.
Building a Shared Understanding:
Open communication and feedback from all stakeholders create a shared understanding of the project, its goals, and potential challenges, leading to more effective problem-solving.
Proactive Risk Management:
By identifying potential risks early, project teams can develop proactive solutions and mitigation strategies to prevent them from becoming major issues.
Improving Communication:
Open communication and feedback foster an environment where potential problems can be identified early, leading to smoother project operations.
In essence, without acknowledgment, problems can remain hidden, potentially leading to delays, cost overruns, and project failure. Encouraging open communication and feedback from all stakeholders is crucial for identifying and addressing potential problems proactively.
Question: What % of large projects are completed on time within budget and delivered the expected benefits as well?
×Google AI Analysis:
A very small percentage of large projects are completed both on time and within budget. Studies indicate that only about
of megaprojects come in on budget and on time, and less than 1% deliver the expected benefits as well. In other words, the vast majority of large projects either go over budget, over schedule, or both.
Here's a more detailed breakdown:
Megaprojects (defined as those costing at least $1 billion):
A significant portion (less than 50%) go over budget, and only a small fraction (9%) are both on budget and on time.
General Large Projects:
Research suggests that a large percentage of large projects (over 90% in some studies) go over budget, over schedule, or both.
Construction Projects:
Construction projects are particularly prone to overruns, with some studies showing that a majority (over 70%) encounter cost overruns due to inaccurate initial estimates.
IT Projects:
Large IT projects are also known to be prone to cost overruns, with some studies suggesting that half of them significantly exceed their budgets.
Why do large projects often fail to stay on time and budget?
Several factors can contribute to project failures, including:
Inaccurate initial estimates:
Optimistic budget projections that don't account for unforeseen circumstances or potential risks can lead to overruns.
Unforeseen risks and changes:
Unforeseen events, changes in scope, or delays can disrupt project timelines and budgets.
Lack of project management expertise:
Insufficient project planning, inadequate risk analysis, and poor communication can hinder project success.
External factors:
Economic conditions, labor shortages, or changes in regulations can impact project costs and timelines.
