In modern times the projects come across an array of failures. These failures may be due to number of reasons associated with the working process. This paper is a complication and assessment of the possible reasons due to which a project may suffer failure.
The need for addressing these failures is important based on the competitive environment that is faced in the modern times. As a result of its frequent occurrences, they are dubbed as “classic mistakes”.
The surveys and findings of The University of Virginia are based on the same classical mistakes assessment that is incurred at these main stream entities. It was formulated that over 40 to 43 percent mistakes are a gift of the employees errors rates, over 45 percent mistakes come as a result of the wrong kind of processes initiated.
A practical case of failure that was caused due to the scattered and disorganized network was suffered by I.R.S when it undertook a project that was multifold its capacity regarding its handling and past experiences. The subsequent outcome came about in form of losses to the overall stakeholders’ bench involved.
Another similar account of failure came about in a bid by Federal Aviation Authority when it undertook a multibillion dollar project aimed at revamping their network structures, the entire situation was a gift of the miss calculations and spending in areas that were of little or no productivity in the entire event of up gradation that was aimed for initially.
The inability of organizations to preempt the challenges and prepare a work scheme in the line of requirements also amasses to the overall losses and failure at the end of the project. The same occurred to F.I.A when it had aimed at equipping itself with a computer based network that would facilitate advancements and ease of handling the clients records, inappropriate assessment led to over 170 million dollars loss being incurred by the organization.
McDonalds, one of the American front line Fast food chains also underwent a failure with regard to the project in I.T domain. It had aimed at establishing a system that would bring about more digital and more efficient services towards the clients. The overall project amounted to over a billion dollars. The initial phases saw a loss of over one hundred million dollars which forced them halting the process and project activities right there.
The Denver Airport’s advanced baggage support system comes as a prime example. It is often being quoted for and studied as an I.T project gone wrong. It was on the account of the lack of practical knowledge and not able to foresee the amount of traffic that the Denver Airport hosts every day, as a result a long stock of luggage would pile up in lane and resulting in a dismal state of outlook to the entire process. It was also based on failure in the I.T project domain and lack of calculations and ground scenario assessment.
The list does not stop here and critical assessments of the I.T projects undertaken by different mega enterprises reveal such shortcomings. Entities such as Hilton Hotel Corp. Bank of America, K Mart, London Stock Exchange and Nike are few of the examples that have committed few of the basic mistakes.
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