A sobering statistic hangs heavy in the air - in a PwC study of over 10,640 projects, a mere 2.5% of companies achieved complete success. The remaining 97.5% stumbled, falling short of their budget, timeline, or scope goals. Does this have to be the norm?
Blind spots, missed deadlines, and budget overruns trouble every project manager when they view their project tracking dashboard. Today, in the age of data-driven decision-making, statistics are loud and clear: 70% of projects exceed their budgets, and a staggering 31% face complete failure.
According to studies, only 34% of organizations complete projects on time or within budget. So, what separates these successful businesses from the rest? The answer lies in leveraging critical success factors (CSFs).
As a project leader, you find yourself constantly juggling many responsibilities. These include tracking your team members, crafting realistic schedules, managing tasks, dealing with project deadlines, and sometimes handling difficult stakeholders.
One misstep. Millions lost. Is your project sleepwalking toward disaster?
As John F. Kennedy once said, “Change is the law of life.
