Project Review & Recovery

The consequences of failed projects can be grim. Lost business, lost jobs, and lost opportunity. To put it in perspective, consider this: In just a 12-month period, organizations that average closing $65 million worth of projects will see $30 million of those projects at risk of failing, according to findings from PM Solutions Research. That means that nearly half of an organization's projects are at risk at any given time, no matter the size of the organization. With so much at stake, early detection and action is key to avoiding the substantial losses associated with troubled projects and project failures.

In this course, you will be introduced to a comprehensive review and recovery process that helps you identify troubled projects and take corrective action early in the project lifecycle to avoid costly losses and failure. You’ll learn how to identify true root causes of troubled projects through a formal assessment to focus recovery efforts in the right areas. You’ll also learn how to develop a recovery plan that identifies the critical objectives that must be satisfied to complete the project.

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Key Outcomes
By the end of this course, participants will be able to:

  • Assess a challenged project’s current status
  • Classify the project’s status using a recovery taxonomy
  • Determine an appropriate recovery course of action
  • Identify an appropriate organization for recovery
  • Communicate key elements of troubled project status to appropriate stakeholders
  • Define a plan for recovery of a troubled project
  • Demonstrate ability to identify and employ appropriate recovery techniques
  • Transition the troubled project appropriately


Course Outline
What Is a Troubled Project?

  • Recognize attributes of the troubled project
  • Define a troubled project
  • Recognize the life cycle of troubled project recovery

Evaluation: Defining the “Should Be”

  • Define the original aim of the project – the “Should Be”
  • Recognize the elements of an Evaluation Charter
  • Identify and establish the assessment team
  • Perform a review of key project documents

Evaluation: Defining the “As Is”

  • Identify the steps for assembling “As-Is” data
  • Determine the gaps between the “As-Is” and “Should-Be” performance
  • State the process and challenges when engaging stakeholders in frank performance discussions
  • Document current performance data on the Evaluation & Decision Fact Sheet

Decision

  • Identify tools and techniques for analyzing a troubled project
  • Demonstrate the ability to analyze a troubled project
  • Develop a recommendation to leadership about the state of the project
  • Prepare a troubled project presentation to leadership

Plan the Recovery

  • Use the tools to support the recovery of the project
  • Define key elements of a Recovery Charter
  • Identify strategies to overcome common dilemmas in planning the project recovery

Execution, Monitor, and Control the Recovery

  • State the importance of managing the “White Space”
  • Recognize techniques to execute, monitor, and control a recovery project
  • Discuss some of the tools and techniques that are often modified during the Execution phase such as project communication, status management, decision making, recovery plan execution, and resource management

Transition and Debrief

  • Identify when to declare recovery success
  • Recognize the importance of an effective recovery project transition meeting
  • Use formal approach to capture lessons learned
  • Model close out practices by conducting a course close out meeting