22/02/15

Approach to Project Rescue – Project Value Assurance

approach to project rescue

Numerous studies have investigated failure rates of projects across industries, determining that over half of projects completed realize less than their intended value. How do you ensure that your project doesn’t fall into that category? At NEOS our Project Value Assurance offering takes on the characteristics of a first responder to quickly assess projects that are under-performing or off track.

When we arrive on the scene, we do what any medical first responder would do. If you have taken CPR training, you know the importance of the ABCDE’s (Airway, Breathing, Circulation, Disability, and Exposure).  We don’t check if a project is breathing but we do check a project’s ABCDE’s (Associations, Basics, Communication, Delivery Capability, and Execution). The objective of this initial assessment is to immediately start treatment, provide stabilization, and buy time to establish a more thorough diagnosis and treatment regimen.

In order to be a first responder, use the project ABCDE’s:

  1. Associations – Survey the project interpersonal relationships.  What are the dynamics?  Gage the teamwork level.  There may be relationship patching opportunities.

  2. Basics – Are common project management tools being used?  Measure the effectiveness of what is in existence and gauge the currency within the team.  See if there may be something that could be extracted or injected to shore things up.

  3. Communication – Look over the existing communication artifacts, are the communication needs being met?  Is everyone getting the information they need?  Are the input as well as output channels open?

  4. Deliver Capability – Are the right people in place to complete the work?  Are the right skills in place?  Are deliverables clear?  Look for gaps that will need mending.

  5. Execution – There may be unseen obstacles slowing progress.  Look for hidden and less obvious blockages.

When a project runs into trouble it is important to start taking immediate action preventing further injury or the project from going into a further free fall.  Following up with a more comprehensive treatment plan will significantly increase the chance of your projects survival.  Using the ABCDE’s will bring things more quickly into focus and highlight key areas of opportunity for correction.

Learn more about NEOS’s Project Value Assurance offerings.