Project scenario:

You are working for a consultancy company that specialises in project management. In the current year performance review, the company has witnessed a high failure rate due to projects being completed late and often at a significantly higher cost than initially anticipated. Some clients have threatened to terminate contracts andblacklist your company. The management team believes that the failures are mainly due to the way projects are defined and initiated. The board of directors has called for an internal review to substantiate the causes of project failure. Your Manager would like to benefit from your newly found knowledge and has asked a report on efficacy of the current project management system. The report is expected to review the current challenges and propose a better way forward:

Question

Critical review of the possible causes of project failure within the company and to what extent these are contributed by ill-defined project.

Propose and recommend the most appropriate systems for cost and time management to enhance success on future projects.