Likely Project Outcomes

Description

Every time we start a new project, we are betting our reputation on its outcome, but the odds are stacked against us. The Iron Law of Project Management states that 48% of projects meet cost budget, 8% meet cost and time targets and only 0.5% of projects meet cost, time and benefits delivered targets. The root cause of these not so surprising statistics is not with back luck or project team incompetency, but rather located within the project selection phase, where we set the budget. It’s the engrained assumption of certainty that is holding us back. This podcast series presents a probabilistic approach to project selection and project delivery, embracing the uncertainty within the project scope and its delivery environment.