The monstrous cost of work failure
The Monstrous Cost of Work Failure Failure happens for a number of reasons, but most companies don't realize the monsters lurking throughout the enterprise. Failure affects more than we think 70% OF ALL PROJECTS FAIL Poor planning can have horrifying results 62% 49% 47% suffer from higher than expected overrun on time overrun on budget maintenance costs Worldwide, we are losing over $500 BILLION O O & per month on IT failure With costs totaling over $6.18 TRILLION ANNUALLY ONLY Failure is increasing at 2.5% the rate of around of companies successfully completed 100% of their projects 15% PER YEAR Miscommunication creates chaos, and chaos will cost you Poorly defined applications (miscommunication between business and IT) contribute to a 66% project failure rate, costing 58% of workers spend half the workday in chaos filing, deleting, or sorting information U.S. businesses at least $30 BILLON PER YEAR Now that you know monsters show up in chaotic processes and communication breakdowns, it's time to defeat them. MEET MILESTONES AND MAKE ADJUSTMENTS COLLABORATE IN CONTEXT USE ONE TOOL FOR EVERYTHING 82% of people thought meeting milestones and budget were Companies that communicate Companies are much more likely to look for one most effectively are 50% more web-based solution (43%) than multiple, separate point solutions. clear indicators of project success. likely to report turnover levels below the industry average. ATask www.attask.com O + 1.866.441.0001 O + 44 (0)845 5083771 Works Cited: -PMI.org -Roger Sessions, "IT Complexity Crisis," http://www.objectwatch.com/whitepapers/ITComplexityWhitePaper.pdf PricewaterhouseCoopers Study: http://www.pwc.com/us/en/operations-management/assets/pwc- global-project-management-survey-first-survey-2004.pdf -TATA Consultancy Report, "IT Projects: Experience Certainty" http://www.tcs.com/Insights/Documents/independant_markets_research_report.pdf -Forrester Research -Meta Group -"Connecting Organizational Communication to Financial Performance - 2003/2004 Communication ROI Study" (2003). Watson Wyatt & Company, 3 November 2003 -Mills, Cliff. "PM Is In Charge." National Computing Centre. May, 2009. http://www.ncc.co.uk/
The monstrous cost of work failure
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