Summary: Five variables cause large project failure. The wrong initiatives defy business logic and provide outcomes few people want, add little value, or undershoot advantages because they are hard to implement. Unrealistic restrictions like funds, manpower, time, or other inputs are another problem. Poor leadership, undue complexity, and instability, uncertainty, and ambiguity destroy projects that span teams, business divisions, countries, and organizations. Under- or over-management is the final project hurdle. Smart companies should hire project managers as senior executives, require clear standards and oversight, and empower them to prevent these blunders. Read more here.
Summary:The Sept.17 Marine F-35B fighter jet crash in South Carolina casts a shadow over a $1.65 trillion program. No significant injuries were sustained when the pilot ejected safely. The latest crash was attributed to “malfunctioning.” About $100 million is the projected cost of this airplane. Read more here.
Summary:When OpenAI launched their ChatGPT in November 2022, high promises and terrifying predictions about how AI will change the world were everywhere, and for good cause. AI can improve project investment selection and prioritization, automate routine processes (especially in project management offices), improve project planning and status reporting, and provide virtual assistance. AI has been touted as a solution for project management professionals to automate testing and quality control of deliverables, especially digital tools and software, as well as accelerate analysis of project management parameters like risks and issues and uncover underlying and hidden factors that may affect project performance. Read more here.
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