EIU’s research finds that the experiences of financial services companies with mature project management capabilities to identify and deal with project failure provide valuable lessons to organisations with ineffective strategies.
- Ideally, projects veering towards failure should be killed in the planning stages, not during implementation.
- Executive stakeholders must be held accountable for project failures.
- Effective communication is essential in identifying signs of failure and finding solutions.
- Regulatory projects are the top priority in the financial services industry today.
- Effectively managing project failure opens doors to new opportunities.