Change in business is fraught with difficulty & failure because organisations underestimate project risk. We are building a solution that will make project risk management central and allow organisations to learn from failure.
Right now only 40% of projects succeed outright, with 30% failing totally and 30% going over budget, over schedule or both. Globally, $billions of capital investment is wasted every year because organisations don’t learn from their failures and repeat the common reasons for project failure even though those reasons for failure are well researched and documented, but organisations fail to factor them into their projects upfront. Our research indicates that project risk management is treated as a tick box exercise and that the following 8 issues are endemic in organisations...
Globally organisations invest billions every year back into their businesses in the form of change projects just so they can remain competitive or to meet legal or regulatory changes. The problem is that c.60% of those investments fails to deliver expected results, or actually damages the organisation, because they don't take project risk seriously.
Our research shows that organisations must embed project learning and project risk management into their project setup. They must look at the inherent risks and working mitigating actions both from within their organisations but also inherent in their industry and the type of project.