Answer to Question #224256 in Management for tsion

Question

Organizations introduce projects with high outcome expectations, especially to ensure sustainable flow of benefits throughout their intended economic life. But many projects somehow fall short of such expectations, and owing to various reasons, they do not deliver the expected benefit flows to the target beneficiaries throughout their economic life. The reason could be attributed to many factors. Discuss these factors

Answer 1

1.    Lack of proper preparation- lack of preparation concerning risk factors, the role of stakeholders, and cost preparing can lead to project failure in achieving the organization’s expectations.
2. Poor leadership- lack of good leadership can lead to mismanagement of resources, lack of focus, and an unclear path to achievement of the expectations.
3. Inexperienced project managers- project management requires experienced, accountable, competent, and responsible project managers; without these traits, a project can fall short of the expectations.
4. Inaccurate cost approximations- when estimates are completely off the project’s actual cost, it can lead to a lack of resources at an early stage of project progress, thus falling short of the expected outcomes.
5. Poor prioritization- overlooked or missed project goals in many cases are a result of wrong priorities. It is crucial to put priorities right to avoid risks and allocate resources effectively.