I M P R O V I N G T H E P R A C T I C E O F M A N A G E M E NT

From crisis to control: New standards for project management
By Michael Stanleigh March/April2006
Reprint # 9B06TB02

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From crisis to control: New standards for project management

Metrics and best practices for project management are few and far between, which is one reason why many projects fail. One of the main problems, this author argues, is that the projects are not aligned with organizational goals. From creating a Project Management Office to establishing and codifying best practices, the author has sound suggestions for making a project undertaken a project that succeeds.
By Michael Stanleigh

completion or because the product developed is never used. This statistic has not effectively changed since 1994. In addition, in 2004, PriceWaterhouseCoopers found that only a handful of projects initiated ever achieve success. Its survey focused on a broad range of industries, large and small, in 30 different countries -- 10,640 projects, for a total value of $7.2 billion. The study found that only 2.5 per cent of global businesses achieve 100 per cent project success. In Canada, project management waste is equally evident. According to The