Facing a failing project can be a daunting experience for any project manager or team member. However, it’s crucial to remember that setbacks are a natural part of the project lifecycle and with the right approach, it’s possible to turn things around. In this article, we’ll explore five effective strategies for saving a failing project.

Framing it as a Problem

Acknowledging a failing project as a problem is crucial with the initial step being acceptance of this reality. Subsequently, identifying the specific nature of the issue is vital – a process referred to as problem framing by cognitive psychologists. A problem is defined as a scenario including a starting point (the current project status), a desired endpoint (project recovery), obstacles hindering transition between these states (present conditions) and potential strategies to overcome these hurdles.

Well-structured problems possess clearly defined elements, enhancing the likelihood of successful resolution through strategic planning. However, many problems lack such clarity, often due to missing or misinterpreted information. Rather than quickly seeking solutions, it’s essential to assess the situation objectively. Sometimes, saving a project may appear daunting, akin to attempting substantial weight loss. Yet, breaking down the problem into manageable components and focusing on incremental progress can make the end goal more achievable.

Instead of giving up, it’s better to break the problem down into smaller challenges, similar to climbing a mountain. Think of it like mountaineers climbing Everest. They focus on the immediate terrain rather than just the summit. Making informed decisions about the safest routes, even if it means taking detours or facing delays, is what ultimately leads to progress.

While taking the longer route might entail temporary setbacks like missing deadlines, it’s preferable to abandon the project entirely. The key is to focus on overcoming immediate obstacles, gradually advancing toward the ultimate objective.

Restructuring The Team

At times, a team’s skill set may not align with the demands of a project, even if the same team has previously achieved success. Perhaps their approach isn’t working, they may lack necessary technical expertise or the leadership might not be suitable for the current endeavor.

Regardless of the reasons, restructuring the team is a potential solution although it should be approached cautiously. While restructuring doesn’t necessarily entail termination (despite the negative connotations associated with the term), it does involve altering the team’s dynamics, which can have unintentional consequences.

Restructuring could involve various actions such as hiring in new team members, redistributing tasks, changing leadership roles or even downsizing. Determining the appropriate restructuring approach depends on identifying the underlying issues causing the project’s struggles. Techniques like Ishikawa’s fishbone diagrams, which aim to uncover root causes, can be valuable in this regard.

One suggestion is to engage with your team and seek their input. Team members intimately involved in the project can provide valuable insights into the challenges and potential solutions. Strive to strike a balance between external observations and internal perspectives.

Restructuring carries inherent risks as adjusting to new workflows can be challenging for some team members. If restructuring is deemed necessary, ensure clear communication about the reasons behind it and implement changes gradually. Additionally, consider short-term solutions like leveraging external talent through staff augmentation or freelance arrangements to address immediate needs.

Seeking External Consulting

Sometimes, instead of a complete team overhaul, just a few changes can get the project back on track. Sometimes consulting opinions from expert can bring perspective to a team that’s struggling with a project. A consultant is a tremendous asset when your team lacks the skills and or knowledge to meet your project’s goals. They bring insights and expertise, thus improve your team’s workflow and help them develop new skills.

If your team is having trouble with new technology or keeps asking basic questions about your business, it’s a sign that hiring a consultant might be a good idea.

Compared to restructuring, hiring a consultant is usually less disruptive to the team’s dynamics. Their role is often short-term as the team becomes more independent over time. They might train the team on a specific tool or provide insights based on their experience in your industry. For instance, they might highlight unnecessary steps that your organization has been following for years. If the team relies on the consultant for an extended period, it’s worth considering whether restructuring is a better long-term solution.

Outsourcing The Project

Sometimes, you need to recognize when it’s time to step back, and no, we’re not talking about abandoning the project altogether, but rather entrusting it to others. Outsourcing can be a game-changer that revitalizes your project. It’s okay to admit when a team isn’t equipped for the job. Even top-notch teams can encounter projects beyond their capabilities. In such cases, seeking external assistance is the wisest move.

There are two approaches to this: either have both teams collaborate (ideal scenario) or hand the entire project over to your outsourcing partner. The latter works best for projects where you lack the time, resources or expertise. If you opt to transfer the project, ensure the new team has sufficient time to understand the work done by the previous team. This transitional phase is crucial for long-term success. While outsourcing may take time, modern technology including advanced AI prediction models, enables outsourcing firm to swiftly assemble a capable team from their pool of candidates to take over your project.

Preparing for Anything

You can start noticing warning signs of a failing project early on: minor delays, communication gaps, unclear objectives and flawed deliveries. These indicators suggest that things might not be going as smoothly as desired.

It’s crucial to establish contingency plans from the start and maintain open communication with your teams. Address issues proactively before they intensify into major problems. The best approach to saving a failing project is to prevent it from reaching a critical stage where rescue becomes necessary.

While we can’t predict every worst-case scenario, businesses can prepare for potential challenges. For example, the rise of digital commerce and the decline of traditional retail signaled shifting trends even before the pandemic hit. By anticipating such changes, you can adapt your strategies accordingly, ensuring resilience in the face of unforeseen events like a global pandemic forcing store closures.

Conclusion

In conclusion, while facing a failing project can be stressful, it’s important to approach the situation with a proactive mindset and a willingness to adapt. By assessing the situation, reevaluating goals, communicating transparently, implementing agile practices, and seeking expert guidance, you can increase the chances of salvaging the project and achieving success.

At 8Seneca, we specialize in providing customized B2B services, especially in the realm of IT outsourcing solutions. If you require assistance with IT outsourcing, please don’t hesitate to reach out to us. Moreover, we’re currently looking for enthusiastic interns to join our team. Visit our recruitment center for information about available positions.