Abstract

In the continuing quest for better project management skills and techniques, experience plays a crucial role. It is, however, a twoedged sword, consisting of both positive and negative consequences. Nevertheless, even our failures have their use. We gain wisdom every bit as much—if not more—from failure as from success; we often discover what works by finding out what does not. Indeed, it can reasonably be argued that those who never made a mistake also never made a discovery. Horne Tooke used to say of his studies in intellectual philosophy that he had become all the better acquainted with the country through having had the good luck to lose his way. In a similar vein, many of us count as our most valuable management lessons those that were learned as the result of failure. Why examine project failures and disasters in the first place? There are specific lessons to be learned, of course, because such studies also yield valuable data in relation to future projects. Unfortunately, the cost of these mistakes is usually painfully high. Real life examples of project disasters can be an invaluable source of information and provide real insight into the way mismanagement can wholly negate an otherwise successful project undertaking. One has only to make a cursory search of current management literature to see compelling examples of projects that have failed, usually with serious consequences for the firms. To illustrate, Borland’s upgrade of DBaseIV was so poorly managed that the product had to be removed from store he use of project management techniques has become an increasingly well-accepted method for performing a wide range of organizational tasks. More and more companies are coming to understand the unique benefits that can be derived from project management, including rapid product development, better and more efficient use of all resources (human and monetary), and increased and more productive cross-functional communication. Even more important, project management is being used by a wide range of disciplines and corporations that had never previously considered it as a viable method for performing work. Legal offices, hospitals, and other services, as well as traditional manufacturing firms, have become enthusiastic about the ways in which project management is improving their delivery of services or creation of new products. Indeed, in their quest to continue to stay ahead of the curve, these organizations are finding that project management techniques are becoming an indispensable part of their operations. Coupled with the increase in project management techniques must be the expectation that, without adequate training and with unrealistic expectations, many of these new projects will ultimately fail. This statement should not surprise any readers; we have all had experiences in which our organizations have adopted new methods of operations. A common side effect is the inevitable “teething pain” the company must go through as idealized theory meets practical reality. And yet, even with the problems these companies experience, there is a load of valuable information to be learned, particularly when it comes to understanding the nature of such failures. There are lessons to be learned from failure, if only we are willing to find and examine them.

Full Text
Paper version not known

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.