failure to learn retrospectives research study evaluating project success conclusion review...
TRANSCRIPT
Project Retrospectives:Evaluating Project Success,
Failure, and Everything In Between
Rob HeggenBUS 550
June 2011
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Agenda
Failure to Learn Retrospectives Research Study Evaluating Project Success Conclusion Review Question
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Agenda
Failure to Learn Retrospectives Research Study Evaluating Project Success Conclusion Review Question
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Failure to Learn
4 Categories of Failure› Total Failure› Cost Overruns› Time Overruns› Fewer Features or Functions
84% of Fortune 500 IT Projects in 1994 66% of Fortune 500 IT Projects in 2003 $55 Billion Annually in Project Waste
(2005)
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Agenda
Failure to Learn Retrospectives Research Study Evaluating Project Success Conclusion Review Question
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Retrospectives
Postmortem – After Death Postpartum – After Birth After Action Review – Army Hot Wash Up – Navy C-GULL – CG Uniform Lessons Learned
“Retrospective” - No indication of success or failure
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Retrospectives (cont.)
Benefits Organizational Learning Continuous Improvement Better Estimating & Scheduling Team Building Improved Recognition & Reflection
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Retrospectives (cont.)
Why Aren’t They Done? Project is complete, MOVE ON! Resource Allocation
› Success – Why?› Failure – WHY?
Poorly Done – Just a Checklist Item
In Summary – No Perceived Value
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Agenda
Failure to Learn Retrospectives Research Study Evaluating Project Success Conclusion Review Question
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Research Study
357 Participants, Avg. 12 yrs. experience
72 Projects in 57 Companies Ranges - $100,000’s over $100
million Assessed
› Project Context› Timeline› Lessons Learned› Evaluation of Success/Failure
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Agenda
Failure to Learn Retrospectives Research Study Evaluating Project Success Conclusion Review Question
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Evaluating Project Success
Process Metrics› Time› Cost› Product
What about the ‘forgotten’ metrics?
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Evaluating Project Success (cont.)
1. Time2. Cost3. Product4. Use5. Learning6. Value
1. Product2. Use3. Value4. Time5. Learning6. Cost
It is vitally important to manage the Stakeholder Perspectives
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Evaluating Project Success (cont.)
- Financial Services Example 1 – Hiring- Targets - $10 million, 20 months
- Time- Cost- Product- Use- Learning- Value
Success or Failure???
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Evaluating Project Success Retrospective Results
Overlooked Economic Changes Strategy-Project Alignment Re-Baseline when Altered
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Evaluating Project Success (cont.)
- Financial Services Example 2 – Collections- Targets - $2.6 million, Late 2002 Delivery
- Time – August 2003- Cost - $5.7 million- Product – Missing some features- Use- Learning- Value
Success or Failure???
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Evaluating Project Success Retrospective Results
Requirements BEFORE Due Date Conduct Impact Analysis Senior Level Buy-In from Outset Formal Project Management Systems
$33 million reduction in charge-offs 50% increased capacity
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Retrospective Template
Project Name & Description Project Timeline Lessons Learned Evaluation of Success/Failure Retrospective Participants Keywords Appendix – Project Artifacts
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Agenda
Failure to Learn Retrospectives Research Study Evaluating Project Success Conclusion Review Question
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Conclusion
Retrospectives› Beyond Simple Checklist› Every Project has Successes AND Failures› Every Project Can Provide Lessons Learned› Stakeholder Perspectives – Early in Process› Process AND Outcome Metrics› Document ACTUAL results› Include Stakeholder Satisfaction Ratings
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Agenda
Failure to Learn Retrospectives Research Study Evaluating Project Success Conclusion Review Question
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Master’s Level Question
Estimates of IT Project Waste in 2005 were $ ?
A. $55 MillionB. $550 MillionC. $55 BillionD. $550 Billion
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Bonus Question -
What is the name of the stadium where the roof collapsed under the weight of the snow?