Ignoring Warning Signals
Some projects leaders are afraid of failure, or even admitting the possibility of failure, so they do not acknowledge issues as they arise.
Wishful thinking often causes project teams and project managers to ignore warning signals.
Effective project managers encourage team members to raise potential problems. Fostering a working environment that is open and collaborative prevents minor issues from growing into major obstacles.
Monitor and track issue resolution. Maintain an issue log and make sure all project team members have access to it.
Acknowledge significant problems early and demonstrate that the project team is pursuing potential solutions. If the team cannot solve the problem on its own project managers should involve stakeholders in developing resolution.
Using prototypes and pilots to test requirements in early phases of development reduces the chance of serious problems later on.
This is one of a series of posts on project management for finance professionals. The series features practical project management advice and tips for driving process change using technology. The series is archived here.