Did you know that organizations lose $109 million for every $1 billion invested in projects and programs? It’s a staggering number to consider, and even more shocking, it’s due in part to the fact that over the last year, less than a third of all projects were successfully completed on time and on budget.
Ask any project manager, and you’ll hear that one of the top problems that they face is a high tolerance for failure. Extending due dates, forgetting tasks and cost overruns are so common that they are considered a part of the process. However, we certainly do not extend the same liberty to other professions like engineers, doctors and pilots.
A high performing project manager needs a way to track projects from start to finish, get the team on board to work together towards a common goal and get more done on time and under budget. Excel spreadsheets and emails are two ways to accomplish this, but most managers should use a project management methodology to stay on task.
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About the Author
Fred Mouawad is a global citizen, serial and portfolio entrepreneur, and founder of Synergia One Group of Companies and CEO of Taskworld. He has expertise in building comprehensive management systems that are based on direct experience, academic research, ISO standards, and Lean Six Sigma. In his free time, Fred likes snow skiing, jet skiing, motorcycling, and scuba diving.