A third of technology assignments in the digital, media and telecoms industries are doomed from the start because of poor planning processes, research from a consultancy firm has shown.
The survey found that while 89% of companies recognised they need a project manager to oversee the assignment, 51% admitted to having unrealistic expectations of their project and 56% do not define benchmarks or success criteria.
The research also showed many companies fail to identify the real benefits or indeed the realistic cost of a project.
“Digital, media and telecoms companies need to be much more savvy and rigorous about their project management,” says Steve Pragnell, chief executive of PM3 Consulting, the company behind the survey.
“It is shocking that millions of pounds are wasted due to lack of foresight and inefficiency. Industry needs to wake up to the value of hiring project management professionals. Ultimately it could be the difference between making or wasting millions,” he concluded.
© Crimson Business Ltd. 2008
