Projects are fundamental tools for innovation and change in contemporary organizations.

From new product development to infrastructure improvement, projects have the potential to drive significant transformations. However, it is undeniable that large projects tend to face numerous obstacles on their way to success.

Successful project management is a challenge that encompasses several factors and variables. A study entitled “Why Big Projects Fail — and How to Give Yours a Better Chance of Success,” written by Te Wu and Ram B. Misra, recognized experts in the field of project management, concisely presents the top five reasons for project failures.

5 reasons why projects fail

Wrong project

First, Wu and Misra point out that the main reason for failure lies in the project itself. Wrong projects are those that defy business logic, generating results that lack value or do not achieve the expected benefits. These projects, often referred to as white elephants, represent a misdirection that is poorly aligned with the organization’s strategic objectives.

Unreasonable limitations

Second, the authors emphasize that unreasonable constraints influence project failure. When the project faces a lack of funding, insufficient human resources, disproportionate time, or any other logistical constraint, proper management becomes insufficient. A possible solution? To evaluate constraints realistically and avoid an abysmal gap between what you need and what you have.

Inefficient leadership

Another fundamental aspect is the lack of effective leadership, pointed out as a key factor in project failures. Project execution involves significant challenges, and without strong leadership among managers and sponsors, failure is quite common. Inadequate management, lack of effective communication, and the inability to adequately supervise daily work are just some of the consequences of this problem.

Complexity

Fourth, complexity is a common barrier that arises when projects involve multiple teams, business units, geographies, and organizations. Volatility, uncertainty, and ambiguity are integrated as added challenges, making project planning and execution difficult. In the face of this complexity, it is necessary to skillfully manage market dynamics, emerging technologies and the stakeholders involved.

Neglecting the minimum details of the project

Last but not least, the authors stress the importance of not making mistakes in basic aspects of project management. For a project to be successful, proper project management is needed, but over-regulating and over-framing can be inefficient. The key lies in adapting management rigor to the size and scope of the project, avoiding wasting resources, and staying aligned with the expected results. In short, the success of a project is not guaranteed just by having an innovative idea.

Continue your professional training

Project management is widely recognized as a crucial function in modern organizations. For this reason, the Universidad Internacional Iberoamericana (International Iberoamerican University, UNIB) offers the Master in Project Design, Administration, and Management. The program aims to train students to excel in this field.

Don’t miss this opportunity to deepen your experience and advance your career in project management. Join our Master in Project Design, Administration, and Management, and let us empower you to become a leader in driving successful projects and making a lasting impact in your chosen field.

Source: Why Big Projects Fail — and How to Give Yours a Better Chance of Success