Strategies for Rescuing Troubled Projects: Part 2
Highlights
Once the information gathering stage is complete and data-driven decision making (DDDM) has been implemented, it’s time to build a stronger foundation for the project.
Operational analysis and data visualization are among the first techniques and practices we use to build a strong foundation and help organizations revive their troubled projects.
Our consultants use Agile methodologies throughout to identify problems and address them as they come up.
Because change is an integral part of the process of revitalizing troubled projects, change management is a critical part of the problem-solving process.
In Part 1 of this two-part series, we explored the first steps Prime 8 takes when a client asks for help in getting a troubled project back on track.
Those steps were:
Gathering information
Implementing data-driven strategies
Once those steps are complete, Prime 8 works with clients to build a foundation for sustained progress by addressing specific issues— such as addressing skill/expertise gaps and implementing better change management — with the goal of building a culture of continuous improvement.
Here’s a detailed look at these additional steps of our approach to troubled projects along with some examples of how we have taken on problematic projects and delivered positive results.
BUILDING A FOUNDATION FOR SUSTAINED GROWTH
When we talk about the importance of data-driven decision making, we are not implying that organizations today don’t value data. They do. The problem is, as companies grow so does their data and the toolsets they use to manage their business. Along this path, impediments arise that prevent critical data from being fully integrated into the decision-making process.
Troubled projects are often a bellwether of this issue.
For example, we worked with a global software giant that, after years of growth, discovered that its rhythm of business was off, impacting performance and its ability to successfully complete initiatives that would enable it to respond quickly to changing business requirements.
When we were engaged to maximize business results, we uncovered many issues:
Data silos. As the organization grew, individual teams became overly siloed and were no longer able to see key metrics outside of their immediate scope.
Communication channels that failed to scale. Communication channels that successfully kept decision makers connected when the organization was smaller were no longer up to the job as the organization grew.
Conflicting projects. Leaders and teams were now out of synch and prone to undertaking initiatives at cross purposes with one another.
Outdated tools. The company developed an over-reliance on rudimentary project management tools (e.g., email, spreadsheets) that worked fine in a smaller setting but couldn’t scale to enterprise-level performance.
We set about implementing strategies that would help build a foundation for sustained growth. This included the introduction of value-delivery capabilities, such as project management skills and workplace collaboration technologies.
CREATING SCALABILITY
In an ever-changing business landscape, the ability to scale is not just an advantage; it's a necessity. Organizations that are champions at investing in these capabilities are far more likely to see projects completed on time and on budget, with far fewer failures and less scope creep, as evidenced by the following research from PMI:
Source: Project Management Institute, Success in Disruptive Times | Expanding the Value Delivery Landscape to Address the High Cost of Low Performance, 2018
Building scalable capabilities is akin to constructing a resilient infrastructure for your projects. It's about creating systems and processes that can easily adapt to increased complexity and volume.
For instance, adopting cloud-based project management tools can offer the flexibility to scale up or down as needed, without the constraints of traditional software. This adaptability not only minimizes the risk of projects going awry but also equips organizations with the agility to recover swiftly when things don't go as planned.
By investing in scalable solutions, organizations are essentially future-proofing themselves, ensuring that they are prepared for whatever challenges or growth spurts lie ahead.
USING AGILE METHODOLOGIES TO GET PROJECTS BACK ON TRACK
The Agile methodology first emerged in the 1990s and originally became popular as a way to increase the success rates of complex software projects. Compared to traditional linear, programmatic approaches, Agile methodology is an iterative and incremental approach that involves breaking projects into small, manageable tasks completed in short phases, often running in parallel.
Though our work is less technical than software projects, we are active practitioners of Agile methodology today leveraging the key principles of iterative development, continuous feedback, and adaptable project planning and believe it will play an even greater role in the future of project management.
ADDRESSING THE SKILL GAPS THAT UNDERMINE PROJECT SUCCESS
Change happens fast, and most organizations fall short of keeping on top of the latest skills and capabilities. We frequently work with organizations looking for innovative ways to add to the skills of their existing workforce.
For example, we worked with a multinational technology organization that was struggling to implement an upskilling solution for its global sales organization. With thousands of employees in different locations and time zones, building a program that was scalable, consistent, and engaging was a challenge.
Based on an extensive discovery and needs analysis, Prime 8 designed and developed a Virtual Academy, an eight-part 200-level massive open online course (MOOC) that met all of the client’s requirements of consistency, compliance, accessibility, and engagement.
LEVERAGING CHANGE MANAGEMENT FOR PROJECT SUCCESS
Once a project is underway, change is inevitable. Headcount turns over. Objectives get revisited. The business and economic environment evolves. Not dealing with the reality of change is a recipe for disaster. The idea behind change management is to provide a structured way of dealing with change that will increase the chances of successful project completions.
This typically involves looking directly at potential challenges and sources and developing proactive ways of addressing them, such as:
Lessening turmoil. Taking steps to reduce the turmoil among employees and customers that accompanies any change.
Boosting morale. Fostering a sense of ownership among employees, increasing engagement, and bolstering morale.
Governance and controls. Putting in place the necessary controls and governance to ensure that changes are effectively implemented and adopted.
Positioning change as positive. Supporting a culture that embraces change as a necessary and positive aspect of growth.
At Prime 8, we frequently instill the basic principles of change management with project teams using ongoing learning programs to promote change acceptance.
How Can We Help You Rescue Your Troubled Project?
Prime 8 offers comprehensive consulting services to help businesses implement the data-driven strategies that drive business performance — reducing the incidence of troubled projects, revitalizing them when they happen, and achieving positive outcomes.
Whether you are wrestling with a project that has underperformed or are looking to take your project management abilities to the next level, let us help you get there.
