Project Failure and Ways To Minimize the Risks
Project management is certainly not an easy task as it requires great vision, excellent planning, and great collaboration among stakeholders, customers and project members. Therefore, it is not unusual to believe that almost 60% of the IT projects fail due to budget overruns, poor requirements gathering process, unrealistic project goals and poor project management skills. In order to be considered a project successful, it should deliver the quality product within the estimated budget and deadline. If a project deviates severely from the estimated budget and deadline, it will eventually lead to project failure. For this reason, projects should be carried out under triple constraints - cost, time and scope. Triple constraints mainly emphasizes that projects must be delivered within cost and time, projects meeting its scope and customer quality requirements. Below are some of the guidelines that could help to minimize...