A study has been carried out by Access Group on the rate of overrunning projects within the IT, Marketing, Telecoms and Engineering sectors. Access surveyed 500 professionals within these fields to find out how often projects overrun and why they do. In addition, they also spoke to industry experts within the engineering and marketing industries to get their take on project management processes within their field.
Among the key findings, Access found that only 25 respondents were able to say that less than ten percent of their projects stayed on schedule, 15% of respondents claimed that a lack of tools was the main reason for projects overrunning and the East of England was found to be the least efficient amongst the regions, with their projects overrunning between 91-100% of the time.
In the video below, Jonathan Beale, Liquefied Natural Gas (LNG) Project Engineer at an Australian oil and gas company, gives his insights into project management within the engineering industry. You can access more videos here.
Access' survey posed two questions: ‘What percentage of the time do your projects overrun?’ and ‘What, in your opinion, is the main reason for projects overrunning?’ The results revealed only 25 respondents were able to say that less than ten percent of their projects stayed on schedule. As to the reasons why, ‘poor time management’ and ‘lack of resource’ were the main culprits, accounting for 76.6% of overrun projects.
These results highlight just how widespread project management issues are, and that they don’t just affect projects on a national scale, but in most of our everyday work.
So how can managers keep their projects on time and within budget? Here are five processes and tricks to help projects run as timely and smoothly as possible.
Unfortunately, there isn’t a fool-proof technique to ensure all projects run without a hitch– after all, ‘to err is human’, as the old saying goes. However, keeping these strategies in mind can help avoid unanticipated – and potentially expensive – complications.
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