On May 3, TRG and IPMA successfully co-hosted the TRG Talk – Project Management seminar with the topic “Why do projects fail?”. Under the guidance of two experienced speakers: Mr. Brian O’Reilly – Deputy Director of Industrial Relations and Technology Transfer Centre at VGU, and Mr. Rick Yvanovich – Founder & CEO of TRG International, participants joined in together for a robust discussion and learning experience about the various reasons that cause projects to fail.
In the beginning, Brian pointed out some examples of failed projects. You will be shocked when you find out that all the well-known companies such as Sony, Coca-Cola, McDonalds, Apple, Levis, IBM have made mistakes in the past.
It is estimated that with 500 global projects, 29% will be successful, 52% will be challenged and 19% will fail. So how can we evaluate if the project is successful or not? According to Brian, the outcome of a project can be measured based on three factors: time, cost and scope.
After that, Rick and Brian divided all participants into two groups to discuss the examples of failed projects they knew and analyse the causes (if possible). The projects mentioned in the discussion were Truong Nguyen, Saigon 1 Tower, the Kafe, Parkson Paragon, …
After the discussion, Brian summed up and concluded the 8 common causes for project failure are:
- Tools and methods
- Risk Management
Once you have mastered the above skills, you will be able to manage your project better.
At the end of the seminar, Rick and Brian shared some tips for managing projects in Vietnam as well as answered participants’ questions on this practical topic.
About TRG Talk
TRG Talk is a series of events co-organised by TRG International and PJ’s Coffee Vietnam in order to promote the latest trends in the IT industry and the HR world, as well as tips and trick in improving your project management skills.
About TRG Talk – Project Management
A good Project Manager must be able to identify problems and risks. He/ She also needs to know how to minimise these issues and is able to make the decision needed throughout the entirety of the project. Do you consider yourself a good project manager? Do you have the required skills and power to handle the situation and the people involved in your project?
TRG Talk – Project Management is a monthly meetup that allows project managers to discuss in detail what it takes to become great at what you’re doing. The event takes place every first Thursday of the month.