In April 2018, furious TSB customers found themselves unable to access their accounts following a failed system migration; despite planning, experience and no doubt a fleet of internal auditors it becomes the latest addition to a plethora of IT projects that have nose-dived spectacularly. But why? And does it project assurance really add value?
This paper explores the topic of IT project assurance through a series of questions that audit leaders may find themselves asking of the person in the mirror or in candid discussion at networking events.
A 2017 report by the Project Management Institute (PMI) surveying over 3000 professionals identified that whilst 14% of projects were total failures, a further 49% were delivered late, 43% had budget overruns and 31% didn’t meet their goals. Which begs the question do any succeed? Thankfully yes, almost 70% of projects were successful. The PMI looks at benefit realisation to define success not limited to the traditional measures of scope, time and cost.
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The table below looks at common reasons for projects to fail and suggests ways in which auditors can recommend mitigation's before failure effects are realised.
Common reasons for failure
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Ways to mitigate
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Changing priorities. Even when delivered as requested, a project might not meet the needs of a changing organisation. |
Align project scope to strategy – review and realign when change is agreed regardless of the phase of the project. For complex and large organisations use a programme office to co-ordinate activity. |
Poor requirement definition. Unclear or unrealistic specifications from the business will doom even the best project to failure as it’s unlikely to deliver a system that is fit for purpose. |
Identify and involve all stakeholders in defining requirements – from decision makers to end users, programmers and architects – the business states ‘what’ is needed with IT… |
'A smooth sea never made a skilful sailor'
- Franklin D Roosevelt