There is always a possibility attached when you start a venture. That is what makes it challenging and risky but exciting at the same time. Once you start facing such hurdles, the first instinct is to fight against all odds and save the project. But a smart man should know when is the right time to attempt at saving a project and when is the ultimate time after which you need to pull the plug. There are times when recovery is an available choice but there are times when you have to kill the project and the ability to gauge that is what sets great people apart.
Is recovery even possible?
There are times when internal or even external changes have repercussions on the dynamics of the project. There are developments which may have affected the project in the negative sense and hurt its framework, cutting back the goal delivery time. There is a redesign possible at this stage. There might also be times when you realize that the initial goal you set out to achieve might just be too out of the world. There is no shame in cutting it down to size to a more attainable and realistic level. There could also be cracks within the team who are responsible for a project and there has to be a threshold up to the original members may be retained beyond which there has to be a change in members who function better within each other. If we realize that the project is way beyond schedule, then there should be efforts taken in order to plan out the problems and introspect on what may have caused them in the first place. If the team members or manager are unable to spot the problems, it is a good idea to seek the help of an outsider to spot the differences that arise.
Why do projects fail?
You might get an idea of the success and failure of a project from the get go. If a project has wavering objectives and lacks the presence of strong executives behind it, there are chances of it going south. It is smart not to broaden the objectives and to keep the finished product as a clear goal. There is a proven and noted 43 percent success likelihood of projects which follow these paths. We get the signs of failure early on and still keep avoiding them until they become fatal for the project. A project which does not reach the milestones that it is at different levels will land in soup. There should be a certain schedule that must be followed and projects with executives lacking the skill to manage that schedule are on the verge of failure.