MGI514 - Topic 9 - Recovering Failed Projects

10/01/2023 1h 51min

Listen "MGI514 - Topic 9 - Recovering Failed Projects"

Episode Synopsis

Before a recovery phase can be formally mandated and endorsed there needs to be a comprehensive strategy for how to turn the troubled project around. This is part formal document, part action template, and part checklist – to be used to create a new project plan. As all projects are different, so too are the project recovery strategies that might be deployed. The uniqueness of what can go wrong is far beyond the uniqueness of how each project might go well. Thus, we cannot easily define a set of steps, procedures, and methodology for formulae for recovering projects in a general sense.
What we can do is create a strategy that adds relevant tools and approaches based on the nature of the project’s type of failure. These strategies take their form from the nature of the problems and threats as we have already discussed. Even when a project faces multiple problems from multiple sources we can combine these strategies into one that will be tailored to the situation we are in.
The strategy needs to cover everything that is special about a project’s current situation, its revised goals, and its most prominent changes. It is not a plan, but it needs to have enough detail to convince stakeholders of what the Recovery Manager intends to do. It is the core statement that defines the recovery strategy as a whole, and it needs to give hope that it can succeed.
Project Recovery is not a separate methodology that stands alone from others. Rather, it is a set of ideas that work directly within various methods and techniques to help rescue any project. We still need to understand and work within those methodologies whilst embarking upon any recovery efforts.
Each major methodology has its own attributes that create a conduit for project recovery to function within. They can vary greatly and the recovery manager must be just as familiar with this as they are with all the other elements and activities relating to project recovery.