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As a business analyst, if you have a project that is failing, it is important to develop a project recovery plan with your sponsors to turnaround the project and get it back on track.
Work with your project manager and sponsors to ensure that the plan entails steps such as identifying the causes of the problems, communicating with all stakeholders, and creating a new schedule and budget.
Determine a suitable moment to engage senior management in the decision-making process and getting them to sign an action plan with the steering group or governance board.
You may want to consider having an independent review team headed by a respected leader to handle the current project manager’s lack of objectivity in owning the turnaround process. The head of the team should be experienced enough to identify key issues and make judgement calls on necessary trade-offs.
Select someone to manage the corporate connection and make them a lead member of the project management team. Ensure they feel responsible for the project’s success as well as for delivering on the business case’s promises.
Analyse the business case, existing capability and progress timeframe as a team. If it appears that the business case is still valid and what has been accomplished so far has value, consider taking measures to fix any issues while continuing with the project. If there are doubts about whether or not the business case makes sense and team productivity is low, think about putting the project on hold for now.
Another important step in successfully turning around a failing project is to communicate with your team. This is essential in order to keep everyone on the same page and ensure that everyone is working towards the same goal. Some things you should communicate to your team are:
- The Project Goals: It’s important that everyone knows what the project goals are so that they can work towards them.
- Your Plan: Your team should be aware of your plan for turning around the project. This will help to keep them motivated and on track.
- Keeping regular updates on Progress: Everyone should be kept up-to-date on the project’s progress so that they can see how their work is impacting the overall goal.
It’s also important to stay positive throughout the process of turning around a failing project. This can be difficult, but it’s essential in order to maintain morale and keep everyone on track. Remember that things will get better and eventually the project will be successful.
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