Why do projects fail?

Having an amazing idea and a great team of hardworking people doesn’t mean your project is destined for success. Statistics show that only 3 out of 100 companies manage to finalize all of their initiated projects.

So, what are the reasons so many projects fail?
The first thing that managers need to understand is exactly how much time and resources does a single project require. Proper time management is essential as it defines a clear timeline as well as deadlines for each activity, after which each team is able to set priorities and assign available resources where they are most in need.
Another great issue which brings projects to a halt is lack of any type of risk analysis: 30% of all projects fail due to undefined risks. An experienced project manager will define several risk management tactics prior to project launch, which brings us to another challenge: finding the most qualified person for the job.
These facts may sound discouraging but there is a solution. The following infographic summarizes all challenges a project coordinator may face and how to avoid them.

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