The gap between strategy and execution creates high costs for many organizations. “Companies wasted $97 million for every $1 billion invested in projects and programs,” 2017 PMI Pulse of the Profession report. The following are the top reasons programs fail.
- Lack of Strategy: Is it customer centric? What do you want people to do? What does success look like? Do you understand the customer behavior to develop a plan that can be executed to achieve the results? How will you measure progress? What metrics? At what intervals?
- Poor Communication: People are asked to execute without first understanding the strategy. Those who are responsible for execution must know what to look for in order to course correct and provide the right insight and measurement to drive to the predetermined success result.
- Uninvolved Leadership: Ownership and follow through is critical to course correct and provide the proper guidance and training for staff at all levels.
- Inadequate Resources: Everyone is already too busy, make sure you have the right resources assigned and adequate staffing to execute in addition to clearly defined roles of team members.
- Deficient Organizational Alignment: What is the process to deliver the plan? How does each person fit into that process? Remember the plan is an evolution, not a set it and forget tactic. Everyone must understand where the end is, what it looks like and when shifts need to happen to the strategy to stay on course.
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