5 Essential Keys to Successful IT Projects
reprinted with permission from the HP Small Business Center

Despite being a hot topic in business for many years, the truth is that project management still isn't well understood among many businesses. And the success rate of projects appears to be lower than ever. According to The Standish Group's April report, "CHAOS Summary 2009," 44 percent of all projects are late, over budget, and/or have less than the required features and functions. Even worse, 24 percent fail altogether - either cancelled prior to completion, or delivered and never used.

"These numbers represent a downtick in the success rates from the previous study, as well as a significant increase in the number of failures," says Jim Crear, Standish Group CIO. "They are a low point in the last five study periods. This year's results represent the highest failure rate in over a decade."

Some experts and analysts have disputed the accuracy of these statistics, but there are few who would argue that the use of basic project management best practices can help ensure that IT projects don't end up in the bin. Here, some simple points to keep in mind.

1. Make sure the project scope is justified and supported
Before starting any project, there should be evidence to support that the project will have or promote value. Once that has been established, a "project champion" should be assigned to ensure the project can be justified and managed throughout its lifecycle. Then, ensure the project has support across the organization before building the actual project team. Even in smaller businesses, gaining a common understanding and across-the-board commitment before undertaking a project helps prevent inter-departmental sparring over resources, priorities and commitments.

2. Put the right people on the team
When selecting project team members, pick them for their skills and abilities as they apply to your particular project, and strive for a mix of different sets of skills and abilities that together represent all you need to complete the project. In your first team meeting, make sure everyone is clear about their role and responsibilities, and delegate tasks as appropriate.

3. Plan ahead to ensure a successful project
It's been said so many times it's nearly lost its meaning, but the fact is that comprehensive project planning is absolutely crucial to success - even in projects with tight timelines. Figure out what deliverables you really need, then prioritize them to keep the project team tightly focused on specific issues - determine short-term "must-haves" (e.g. one to three months) and long-term goals (e.g. one to three years).

4. Keep communicating and collaborating
Regular communication between project team members and stakeholders is vital to keeping a project on track. Team members should hold weekly meetings to discuss issues and potential solutions; if the team is geographically diverse, use collaboration tools to hold meetings and share information. Make use of project management software tools that keep project managers and team members informed of progress and help avoid miscommunication.

5. Never stop learning
Successful project management can sometimes be based on trial and error, so you should be keeping track of your own internal best practices for future reference. Conduct project "post-mortem meetings" to understand what worked, what went wrong, and how successful the project was, based on your internal metrics.

Project management training can also help members of your organization contribute to more successful project outcomes. For more information, visit the HP Project Management Training website.