Project Management by Ofer Zwikael & John R. Smyrk

Author:Ofer Zwikael & John R. Smyrk
Language: eng
Format: epub
ISBN: 9783030031749
Publisher: Springer International Publishing

2.Failure rates are high—but project funders are either unaware of this (or ignore it) when making funding decisions.

3.Failure rates are high, but in each funder’s portfolio of projects the “winners” more than compensate for the “losers”.

In what follows below, we conclude that the accepted conventional test used to judge projects says little (if anything) about the success of the investment represented by a project. This means that a project that does not achieve its business case goals, may still be judged as “successful”. We also conclude that misuse of this test introduces a systematic upward bias in project failure rates. If funders suspect this and, at the same time, apply more appropriate (albeit intuitive) tests of investment success , then the first conjecture would serve as a reasonable working hypothesis.

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