Project Success
NVNG Coaching was borne out of direct experience of the challenges linked to delivery of large scale programmes and project portfolios.
The Standish Group (standishgroup.com) in their CHAOS Report identified that 71% of projects were considered to be either challenged or failed in relation to being delivered on time, on budget, with a satisfactory result; which when linked to the investment and ROI value, is an alarming statistic. Of those failing and challenged projects, most of them experienced a cost overrun between 20-70%, as shown in the chart.
Responses
The top two primary investments should be focused on:
- Executive sponsorship skills
- Emotional maturity environment
both accounting for at least 15% each of investment in delivering project success. The Standish Group recommend no less than 2% of project investment be attributed to project portfolio success. So for every £10,000 of project expenditure £200 be invested in the success and a minimum £60 of that being invested in Executive sponsorship skills and emotional maturity.
| Project / Portfolio value | £10k | £100k | £500k | £1m | £10m | £100m |
|---|---|---|---|---|---|---|
| Success Budget | £200 | £2k | £10k | £20k | £200k | £2m |
| Top Factors Investment | £60 | £600 | £3k | £6k | £60k | £600k |
Project Portfolio value
Primary Investments
- Starting right at the top of the programme with the Executives that are sponsoring the projects, coaching their engagement and support.
- Ensuring your delivery managers are performing at their best, by helping them identify behaviours and attitudes which may be hindering their management activities.
- Your teams are crucial to delivery and team coaching can help them to move into high performance operations.
If you would like to hear more about how we can help deliver project success through coaching, contact us today for a discovery session.