3/9/2024 0 Comments Initiation of ifaIndeed, inadequate support from sponsors accounts for 26 percent of project failure. If you're looking to scupper your project before it begins, failing to get buy-in from those handling the purse strings is the way to go. This is exactly what you're looking for.īy tying the goals of your project to company wide objectives, you'll also find it easier to. This might align with a wider business goal to double company revenue. You need to focus on moving the needle for the wider company goals.įor example, your project might entail improving the efficiency of your sales team by training them with new software. To do this, you don't need to worry about technical details. So, you'll want to create a business case for your project with clear objectives. If you don't know where you are going, you will probably end up somewhere else.Įvery project must have clear goals that align with the wider business. If you don't, you risk adding to worrying statistics that suggest only 2.5 percent of companies successfully complete all their projects.īearing these facts in mind, let's explore the best practices for the initiation stage of your project lifecycle. ![]() When the costs of project failure are so high, it's worth putting best practices in place. Could the initiation stage of your project lifecycle work do with a tune-up?
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