StudentShare solutions
Triangle menu

Different key factors that influence the failure of projects - Essay Example

Not dowloaded yet

Extract of sample
Different key factors that influence the failure of projects

Industries view project failures as either a pathological state to be avoided or a logical problem of goal definition (Lindahl & Rehn, 2007).
This paper will focus on the different key factors that influence the failure of projects especially on the field of information technology (IT). It will discuss the different stages in the project lifecycle and the possible areas of failures in each stage. Furthermore, the paper will tackle the concept of risk management and its benefits in a successful project development as well as in preventing failures. A successful risk management system incorporated in a project will create a programme for handling probable causes of project failures.
IT projects fail when it does not meet one or more of its criteria for success. The criteria for successful IT projects are delivery on time, completion on or under budget, and satisfaction of user requirements. Only a few projects achieve all three (Grossman, 2003). In summary, failure can be defined as a system which does not perform as expected, not operational at a specified time and cannot be used in the way expected.
There are four key factors that can be associated with project failures. These are design, data, cost and operations. A poor design phase can result in a system that does not match customer expectation, or fails to capture the basic business requirements. The data factor may include inaccurate, inconsistent, not available or incomplete information and records. The cost factor involves the operational costs to implement and run the system that far exceeds the identified business benefit. A survey showed that 35% of all major information systems projects are over budget, termed "runaways", such as the Stock Exchange Taurus Project and the London Ambulance Service (Flowers, 1996).
Project Lifecycle
The project lifecycle defines the beginning and the end of a project. It is a collection of generally sequential and sometimes overlapping project phases whose name and number are determined by the management and control needs of the organisation (Project Management Institute, Inc, 2008). It also determines which transitional actions are included and which are not in every stage of the project from beginning to end. It can be used to link the project to the ongoing operations of the organisation. (Choudhuri, 2005)
The first phase of the lifecycle is the initiating process which involves those processes performed to define a new project by obtaining the authorization needed to start the project. The second phase is the planning process which includes those processes required in establishing the scope of the project, refining the objectives, and defining the course of action in order to attain the objectives of the project. The third phase is the executing process which encompasses those processes performed to complete the work defined and to satisfy project specifications. The fourth phase is the monitoring and controlling process which includes those processes required to track, review, and regulate the progress and performance of the project. The last phase is the closing process which considers those processes performed to finalise all activities to formally close the project. (Project Management Institute, Inc, 2008)
Causes of Project Failures
In every phase of the project ...Show more

Summary

Project fails. Despite a few known cases of successful project development and implementation, it is widely accepted in the industry that a number of unacceptable projects fail, especially in the IT/IS sector. According to Lyytinen and Hirschheim (1987), the estimated number of project failures is half of all the systems implemented…
Author : ffunk
Different key factors that influence the failure of projects essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Different key factors that influence the failure of projects"
with a personal 20% discount.
Grab the best paper

Related Essays

The Moderating Effect of Culture on the Success Factors of Information Systems Projects
Its global character and the diversity of the people involved people in its design, development and use, has led to a number of failures and problems. A potential underestimation of factors such as culture may play a role of importance, leading to these problems.
50 pages (12500 words) Essay
Identify and discuss the key factors that influence the logistical processes at Tate and Lyle
It has been in business for more than 130 years and is one of Britain’s oldest and best-known brands in sugar products such as Golden Syrup and Black Treacle. It has a long and proud history in sugar refining; however, the group has now diversified to other renewable materials such as corn and wheat.
10 pages (2500 words) Essay
SUCCESS FACTORS IN DATA WAREHOUSE PROJECTS
SUCCESS FACTORS IN DATA WAREHOUSE PROJECTS Success Factors in Data Warehouse Projects Author Author’s Affiliation Date Introduction A data warehouse is a large database containing reporting and query tools that stores recent and past data collected from various operational systems and merged for management reporting, analysis, and decision making.
11 pages (2750 words) Essay
The key factors influence the success of an international strategic alliance
This implores upon the parties to design structures of agreements that meet certain levels of governance, financial and operating systems should be customized to fit individual agreements. The success of an alliance must be built upon reliable infrastructure, which must support the underlying goals and objectives of the parties to the agreements.
11 pages (2750 words) Essay
What are the distinguishing features of projects
It has a planned start and planned finish dates with a set of resources deployed. The key to management of projects is like other management, managing the required inputs and resources optimally to add value
6 pages (1500 words) Essay
Success Factors in key accounts
Survey methods, formal methods, econometrics, etc., are some of the examples of quantitative research. It's the research and analysis done by the scientists in different kinds of fields like engineering, marketing, etc., yielded fruitful results in the development of different industries, which became more and more consumer friendly.
6 pages (1500 words) Essay
You are required to produce a 2500 world essay describing what you believe to be the key factors for success in running successful projects. Your work should be
ture and it seems that things such as leadership, getting the right people, and establishing a good plan become the foundations of all successful projects. To better understand these key factors, it would be useful to analyze them individually as they relate to the success had
10 pages (2500 words) Essay
Identify and discuss the key factors that influence the logistical processes at Tate and Lyle
Moreover, the group has diversified portfolio business operations throughout the globe, thus making it one of the leading players in renewable food
10 pages (2500 words) Essay
Factors that would influence the decision-making process
Planning involves clinical assessment, collection of radiographic data, patient preparation and counselling, and planning of the surgery and restoration.
11 pages (2750 words) Essay
Have integration efforts in Latin America failed or succeeded What factors explain why integration projects in Latin America have been either or a success or failure
In reference to Angeles-Castro et al (2011, p. 35), the industrial revolution had failed to be adopted a century earlier because of the different world political
10 pages (2500 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation