Project Retrospectives:Evaluating Project Success,

Failure, and Everything In Between

Rob HeggenBUS 550

June 2011

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Agenda

Failure to Learn Retrospectives Research Study Evaluating Project Success Conclusion Review Question

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Agenda

Failure to Learn Retrospectives Research Study Evaluating Project Success Conclusion Review Question

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Failure to Learn

4 Categories of Failure› Total Failure› Cost Overruns› Time Overruns› Fewer Features or Functions

84% of Fortune 500 IT Projects in 1994 66% of Fortune 500 IT Projects in 2003 $55 Billion Annually in Project Waste

(2005)

“Life can only be understood backwards, but it must be

lived forwards”

-Kierkegaard

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Agenda

Failure to Learn Retrospectives Research Study Evaluating Project Success Conclusion Review Question

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Retrospectives

Postmortem – After Death Postpartum – After Birth After Action Review – Army Hot Wash Up – Navy C-GULL – CG Uniform Lessons Learned

“Retrospective” - No indication of success or failure

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Retrospectives (cont.)

Benefits Organizational Learning Continuous Improvement Better Estimating & Scheduling Team Building Improved Recognition & Reflection

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Retrospectives (cont.)

Why Aren’t They Done? Project is complete, MOVE ON! Resource Allocation

› Success – Why?› Failure – WHY?

Poorly Done – Just a Checklist Item

In Summary – No Perceived Value

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Agenda

Failure to Learn Retrospectives Research Study Evaluating Project Success Conclusion Review Question

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Research Study

357 Participants, Avg. 12 yrs. experience

72 Projects in 57 Companies Ranges - $100,000’s over $100

million Assessed

› Project Context› Timeline› Lessons Learned› Evaluation of Success/Failure

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Agenda

Failure to Learn Retrospectives Research Study Evaluating Project Success Conclusion Review Question

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Evaluating Project Success

Process Metrics› Time› Cost› Product

What about the ‘forgotten’ metrics?

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Evaluating Project Success (cont.)

Outcome Metrics› Use› Learning› Value

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Evaluating Project Success (cont.)

1. Time2. Cost3. Product4. Use5. Learning6. Value

1. Product2. Use3. Value4. Time5. Learning6. Cost

It is vitally important to manage the Stakeholder Perspectives

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Evaluating Project Success (cont.)

- Financial Services Example 1 – Hiring- Targets - $10 million, 20 months

- Time- Cost- Product- Use- Learning- Value

Success or Failure???

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Evaluating Project Success Retrospective Results

Overlooked Economic Changes Strategy-Project Alignment Re-Baseline when Altered

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Evaluating Project Success (cont.)

- Financial Services Example 2 – Collections- Targets - $2.6 million, Late 2002 Delivery

- Time – August 2003- Cost - $5.7 million- Product – Missing some features- Use- Learning- Value

Success or Failure???

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Evaluating Project Success Retrospective Results

Requirements BEFORE Due Date Conduct Impact Analysis Senior Level Buy-In from Outset Formal Project Management Systems

$33 million reduction in charge-offs 50% increased capacity

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Retrospective Template

Project Name & Description Project Timeline Lessons Learned Evaluation of Success/Failure Retrospective Participants Keywords Appendix – Project Artifacts

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Agenda

Failure to Learn Retrospectives Research Study Evaluating Project Success Conclusion Review Question

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Conclusion

Retrospectives› Beyond Simple Checklist› Every Project has Successes AND Failures› Every Project Can Provide Lessons Learned› Stakeholder Perspectives – Early in Process› Process AND Outcome Metrics› Document ACTUAL results› Include Stakeholder Satisfaction Ratings

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Agenda

Failure to Learn Retrospectives Research Study Evaluating Project Success Conclusion Review Question

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Master’s Level Question

Estimates of IT Project Waste in 2005 were $ ?

A. $55 MillionB. $550 MillionC. $55 BillionD. $550 Billion

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Bonus Question -

What is the name of the stadium where the roof collapsed under the weight of the snow?

Thank You