6 ways to rescue a failing project
When 60% of the project period is over & suddenly you start feeling less confident about your project, it’s time to take a logical step as soon as possible. During this perplexing situation, it may happen that you take a few decisions in a hurry while trying to fix the problem, but that would only make the situation worse. So it’s very important to put every step forward in a careful manner as the project is on the edge & you have to get it out before it is doomed to fail. In this dire situation, here are some helpful tips to save your project from crashing down.
1. Terminate the current schedule
When a project is suffering through a heap of problems, then it is always better to stop for a while & have a look at what went wrong. To scratch the current schedule is a very risky move, but somehow it is necessary to do so for the sake of project success. It is always good to convey truth to the members about the impending disaster so that it’ll save the project while continuing the same position in the market. It is important everyone understands that current schedule was imprecise & weak, there is a critical need to draw a new one.
2. Reevaluate everything & start the assessment
Once you are done with putting a stop on a running project, get back to all the design & project requirement plan & start evaluating it properly. Spot out the flaws if you can & restudy the plan from a realistic time frame. In the beginning, it happens that the plan becomes too ambitious but while dealing with such edgy situations it is necessary to get down. Reach out to all the individuals in the team & ask for their opinions & suggestions so that you’ll get an insight why the project arrived in its current state.
3. Check if the project is in a feasible state
After evaluating everything & having a clear word with the team, you are pretty clear about the things that has put your project in trouble. This is the moment to decide if your team should continue with the same project or not. If the issues identified are way far more difficult to settle down or if the project is going to take too long to complete & you lack the time & cost to fulfil that condition, then the project has to be cancelled. It is also possible that the project had minor issues that can be resolved by putting few efforts to it & then the project might come back on its original track. So, if the things can be recovered back then it is not needed to scrap the whole project.
4. Generate a realistic plan
Now that the loopholes in the project are identified & if the project is feasible to be recovered, then a realistic schedule has to be generated accordingly. The finalized plan must exclude the things which are out of reach & again create a hindrance in completion of the project. Make sure that the new revised plan is accurate so that everyone can lively work on it & achieve the desired outcome. Once your plan is ready, discuss it with your members & sponsors, have negotiations & come to a solution with consensus.
5. Set out a practicable deadline
If a deadline is not realistic it would unnecessarily create inevitable frustration & again disturb the team morale. As the project has already been through the critical phase, it is important to find reasonable solution this time. So, discuss the deadlines with each project member & make sure everyone agrees to complete the work in the specified time zone.
6. Last but not the least, Communication!!
Project Manager should always take care that the entire team carries a good rapport throughout the project timeline. When a project is scaling down, having open communication is very essential to save the project. Make sure that each member & the sponsors, everyone get message & updates regarding the project properly & in time. Sound communication in a team will always give better results with less disturbance in project work.
A methodical approach will help you deal with all the issues & align your project back on track, scaling up overall business goals simultaneously.