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 Failure to Learn  Retrospectives  Research Study  Evaluating Project Success  Conclusion  Review Question 2.

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Presentation on theme: " Failure to Learn  Retrospectives  Research Study  Evaluating Project Success  Conclusion  Review Question 2."— Presentation transcript:

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2  Failure to Learn  Retrospectives  Research Study  Evaluating Project Success  Conclusion  Review Question 2

3  Failure to Learn  Retrospectives  Research Study  Evaluating Project Success  Conclusion  Review Question 3

4  4 Categories of Failure › Total Failure › Cost Overruns › Time Overruns › Fewer Features or Functions  84% of Fortune 500 IT Projects in 1994  66% of Fortune 500 IT Projects in 2003  $55 Billion Annually in Project Waste (2005) 4

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6  Failure to Learn  Retrospectives  Research Study  Evaluating Project Success  Conclusion  Review Question 6

7  Postmortem – After Death  Postpartum – After Birth  After Action Review – Army  Hot Wash Up – Navy  C-GULL – CG Uniform Lessons Learned “Retrospective” - No indication of success or failure 7

8 Benefits  Organizational Learning  Continuous Improvement  Better Estimating & Scheduling  Team Building  Improved Recognition & Reflection 8

9 Why Aren’t They Done?  Project is complete, MOVE ON!  Resource Allocation › Success – Why? › Failure – WHY?  Poorly Done – Just a Checklist Item In Summary – No Perceived Value 9

10  Failure to Learn  Retrospectives  Research Study  Evaluating Project Success  Conclusion  Review Question 10

11  357 Participants, Avg. 12 yrs. experience  72 Projects in 57 Companies  Ranges - $100,000’s  over $100 million  Assessed › Project Context › Timeline › Lessons Learned › Evaluation of Success/Failure 11

12  Failure to Learn  Retrospectives  Research Study  Evaluating Project Success  Conclusion  Review Question 12

13  Process Metrics › Time › Cost › Product What about the ‘forgotten’ metrics? 13

14  Outcome Metrics › Use › Learning › Value 14

15 1. Time 2. Cost 3. Product 4. Use 5. Learning 6. Value 1. Product 2. Use 3. Value 4. Time 5. Learning 6. Cost 15 It is vitally important to manage the Stakeholder Perspectives

16 -F-Financial Services Example 1 – Hiring -T-Targets - $10 million, 20 months -T-Time -C-Cost -P-Product -U-Use -L-Learning -V-Value SSuccess or Failure??? 16

17  Overlooked Economic Changes  Strategy-Project Alignment  Re-Baseline when Altered 17

18 -F-Financial Services Example 2 – Collections -T-Targets - $2.6 million, Late 2002 Delivery -T-Time – August 2003 -C-Cost - $5.7 million -P-Product – Missing some features -U-Use -L-Learning -V-Value SSuccess or Failure??? 18

19  Requirements BEFORE Due Date  Conduct Impact Analysis  Senior Level Buy-In from Outset  Formal Project Management Systems  $33 million reduction in charge-offs  50% increased capacity 19

20  Project Name & Description  Project Timeline  Lessons Learned  Evaluation of Success/Failure  Retrospective Participants  Keywords  Appendix – Project Artifacts 20

21  Failure to Learn  Retrospectives  Research Study  Evaluating Project Success  Conclusion  Review Question 21

22  Retrospectives › Beyond Simple Checklist › Every Project has Successes AND Failures › Every Project Can Provide Lessons Learned › Stakeholder Perspectives – Early in Process › Process AND Outcome Metrics › Document ACTUAL results › Include Stakeholder Satisfaction Ratings 22

23  Failure to Learn  Retrospectives  Research Study  Evaluating Project Success  Conclusion  Review Question 23

24 Estimates of IT Project Waste in 2005 were $ ? A. $55 Million B. $550 Million C. $55 Billion D. $550 Billion 24

25  What is the name of the stadium where the roof collapsed under the weight of the snow? 25

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