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No matter how successful the
organization is, it is bound to make a
mistake
Where there is a failure there is potential
for learning
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To manage the project without regard for
the organizations external, internal
environment including project stake
holders.
DHABOL CASE
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When a company pushes a new
technology the company cut corners ,
safety factors or make quality trade offs
TEREDYNE JAGUAR
CASE
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Successful project managers are those who are
best able to adapt to the new situation with
flexibility, look for opportunities and bring
their projects back up to spend rapidly
Managers who spend time doing the What if
scenarios are more successful than managers
who operate reactively
A&D CASE
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Fix the problem not the blame
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Allowing new projects to remain in a
holding pattern indefinitely
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Feasibility study is required for a project
to be successful
Euro-tunnels failure to generate revenue
HANDSTAR CASE
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To recognize the circumstances when its no longer
sensible to continue
Ego and personal stake in the project Throwing money at a sinking project will not buy success
Willingness to acknowledge an error is required
Eg: AT&Ts admission that its $7.5 billion investment inacquiring NCR corporation was a mistake
TURNER CONSTRUCTION CASE how to solve
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Large corporations, loaded with layers of
oversight and bureaucracy, are increasingly
becoming some of the worst settings for
achieving cutting-edge innovation
Some of the big spending innovations never
found their way to the market
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Inclination to sweep the whole failed project
under the rug and move on as though nothing
has happened.
Mistakes are a natural side effect of many new
ventures. Learning from them, is a trait much
more difficult to acquire
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Willingness to sacrifice money in exchange for
schedule, and vice versa
Balancing acts among rival demands
Implications of crashing the project
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Need to reshape strategic focus
Political decision-making is often at the
expense of overall organizational effectiveness
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Weak leaders are unhelpful and
counterproductive
Good project leader is the one who has
to marshaling the resources , motivating
team personnel
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Failure is often a by-product of risky ventures
Projects upset the status quo of organizations
Past failures need not discourage us from future efforts
Two natural reactions from project managers in sight of
failure
To brush aside with as little thought as possible
To become so focused on failure that it handcuffs an
organization from taking new steps
There are lessons to be learnt from failure- if only we are
willing to learn
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