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How to manage the leading indicators of failure
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Project reporting is one source of information, health checks another; but what should you be monitoring that will tell you ahead of time that your project is in trouble? These are the ‘leading indicators of failure’. These leading indicators are factors that are not normally reported or occur gradually over time and so are commonly missed. This Guide, by making you aware of their existence and nature, enables you to track them and take action early. When these indicators are reflected in the project status reports it will be too late! Track and act early. This Guide tells you where to look. |
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$19.95
(excluding tax)
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As a member of the governance team you have accountability for the success of the project but only limited visibility - mainly through the information provided.
This Guide gives you another avenue to ensure that your project is not fraying at the edges or disintegrating from within.
By tracking the leading indicators of failure at least quarterly you’ll know if any of the common indicators are impacting your project. The existence of any indicator is not automatic death, but does say, “We’ve got a real problem”.
For example, on one project almost the whole project leadership team change during year two - a massive loss of knowledge. The governance team had to step in to ensure the earlier decisions were not revisited while the project essentially stalled for months.
This Guide came from the author’s personal desire not be caught ‘asleep at the wheel’ on projects. We give you seven key leading indicators that will tell you whether to be worried or really worried!
Alternatively, a clean bill of health will give you a level of comfort.
How to manage the leading indicators of failure
- Understanding the ‘leading indicators of failure’
- How to monitor your resource indicators
- How to monitor your cash-burn indicators
- How to monitor your issues management indicators
- How to monitor your scope management indicators
- How to monitor your quality results indicators
- How to monitor your organizational change indicators
- How to monitor your project dynamics
- Governance team - to understand what the indicators are and how to track them periodically
- Project team - to be aware of these indicators so that they can highlight them to management where necessary
- PPMOs - so that they can track them across the project and bring them to the attention of the governance team
- Project Investment Committee/Board - to enable them to assess how well these indicators are being tracked and measured
- Auditors - to understand what should be tracked to ensure the project is successful
- Brings to the fore indicators too often overlooked
- Makes the governance and project teams aware of indicators that can help them be successful
- Equips the organization to take action (including culling projects) when they are likely to fail or are visibly failing
Coming soon
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