Project Management Institute, Inc. (PMI) holds that all organizations perform two kinds of work: operational work and projects. Due to the repetitive nature of operational work, it is easier to systematize processes. However, because projects have finite start and end dates, are unique in nature, and involve mixed team players, they are more difficult to systematize and to develop sound methodologies and processes for.
Most organizations have experienced projects that did not end on time, were over budget, or changed in scope over time. There are many pitfalls that can sink projects. Here we will focus on four basic reasons why projects fail. Because most project teams are comprised of at least three sets of players including executive management, project managers, and team members or resources, we will take a look at each issue from all three vantage points, and then provide suggested solutions.