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Vol. XII Issue VII - July 2010
Project Management eJournal
PM ADVISORY:
RISK DOCTOR BRIEFING
Hitting The Target First Time, Every Time
By Dr David Hillson
The Risk Doctor
UK
Projects are risky undertakings. This is because they are usually unique and complex, based on assumptions and constraints, with a range of stakeholders, and dependent on the performance of people. Given these tough challenges, it is not surprising that some projects fail. How are we doing?
The Standish Group have been monitoring project performance since 1994, to see how many projects succeed, how many fail, and how many miss at least one important goal (these projects are called “challenged”). Their first set of data revealed a worrying situation, with only 16% of projects succeeding, 31% being complete failures, and the remaining 53% being challenged. The most recent results are better, but not by much. In 2009 there were 32% successful projects, 24% failures and 44% challenged.
It seems that most projects are continuing to miss the target, either completely or in at least one important aspect. Project management claims to be a profession, with established standards, tools, techniques and methodologies, certification and training courses. Project risk management exists to help us manage the inbuilt uncertainty in projects and maximise the chances of project success. Something is clearly wrong. Why do we miss our project targets so often?
More…
To read entire paper (click here)
 About the Author Author
Dr David Hillson, PMP FRSA HonFAPM FIRM FCMI, is internationally recognized as a leading thinker and practitioner in risk management. He is Director of Risk Doctor & Partners (www.risk-doctor.com), and has worked in over 40 countries. He is a popular conference speaker and award-winning author on risk, with six books on the topic. David has made several innovative contributions to improving risk management, and is well known for promoting the inclusion of proactive opportunity management within the risk process, and for his ground-breaking work in risk psychology. David is an Honorary Fellow of the UK Association for Project Management (APM) and past chairman of its Risk Management Specific Interest Group. He is an elected Fellow of the Institute of Risk Management (IRM), the Royal Society for the Encouragement of Arts, Manufactures and Commerce (RSA), and the UK Chartered Management Institute (CMI). David is also an active member of the Project Management Institute (PMI) and was a founder member of its Risk Management Specific Interest Group. He received the PMI Distinguished Contribution Award for his work in developing risk management over many years. Since 1998 he has been a core author for the risk chapter of the PMBOK Guide®, and is a core author for the PMI Practice Standard for Project Risk Management. David can be contacted at david@risk-doctor.com. To see his latest book, Managing Risks in Projects, published in July 2009 by Gower, visit http://www.gowerpublishing.com/isbn/9780566088674. |
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