The main key to avoid any of the projects getting delayed is Communication.
Reasons for the delay of projects:
Lack of communication among the team members.
Project manager should communicate with all the team members involved in the project.
Any of the team member or the project manager is on an unexceptional leave for 2-3 days then the work to be done by that particular person will be stopped so that the whole project gets delayed.
Why is the delay of projects often surprised???
Due to the lack of communication among all the team members from all the way up to the executives which causes many issues that create risk.
All the team members are segregated within the organizational boundaries.
These organizational boundaries exist by design and they keep employees from interfering with others processes and systems.
These systems can also prevent the communication that executives and the project managers have to see what risks and the potential delays that lie down to the line.
There are five solutions to manage the risks and prevent the project delays.
A. Be Proactive:
Plan in risks during the initial project estimate, and be aware of low-probability and high-impact risks.
B. Centralize and Amplify:
Project teams need to be able to see the updated info on a real-time basis. They also need to access to your planned mitigation strategies and status.
C. Automate To Collaborate:
Use technology to integrate cost schedule and other critical items.
D. Be Accountable:
Assign tasks and action items, directly during meetings and record that holds responsibility.
E. Continuous Improvement:
Develop and mature your processes continuously. It is not enough to throw a tool and process at your employees, they also need training.
What is cost over-run???
A cost overrun occurs when the expenses required to complete a project or one aspect of a project, exceed the amount budgeted.
The main function of a project manager is to forecast the cost expenses and track the cost so that the cost overrun can be avoided. If the project management is not executed properly then it will lead to high expenses in an organization.
Author : Lisa Findlay