Project Recovery
Projects that are recovered are mostly recovered by getting the project objectives back on track. This is not always the case; sometimes the business objectives are neglected in the recovery process.
Projects always start off with good intentions. Good intentions are in the forms of certain tangible objectives. These objectives are usually project objectives, derived from the business objectives. Once a project is in Implementation, these good intentions sometimes become more difficult to obtain. As soon as the project deviates beyond a manageable threshold, distress signals are sounded and the project becomes labelled as troubled or a red-project. Once a project is troubled, a decision is required — to recover or not. If it is not recovered it is usually the end of the project and it is known as a terminated or failed project. However, if the decision is made to recover the project, a concerted effort is made to recover the project objectives as much as possible.
Project success been seen as “the project delivers value to all parties in the project; and The project maintains the scope, schedule, and cost established by the original definition, as well as any before the fact change orders.”
Stated differently, a troubled project is where there is a reasonable chance that the project might not deliver benefits to the stakeholders, or it is deviating significantly from the intended performance baselines, which are outside the acceptable thresholds.
Recovered projects are projects that have deviated past the acceptable thresholds, but due to interventions, the project objectives have been recovered to an appropriate level to still provide acceptable benefits to the stakeholders.
Recovering a project that is really troubled is not for the faint hearted. It is the opinion of this author that recovery is not achievable and repeatable without a project recovery methodology. The more complicated a project is, the greater the importance of a recovery methodology.
Our project recovery methodologies have a four- step process, namely (1) audit/identification of current status, (2) analysis of the problems (fault finding), (3) negotiate the recommended actions, and (4) implement the recovery plan.
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