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February 18, 2020

What Adoption Change Management can do for you

Change is a given. Although it can be a struggle, change in an organizational setting is necessary. New projects are constantly in motion to increase profits and improve competitiveness, yet managing change tends to take a back burner, and when it does, it can lead to disaster.  Check out these alarming stats.

  • 70% of projects fail (Source 4 PM)
  • 17% of IT projects go so badly, they threaten the existence of a company
    (McKinsey & Company)
  • Only 5% of companies successfully complete 100% of their projects (Gallup).
  • The failure of IT costs the US economy about $50-150 billion annually (Harvard).
  • Only 26 percent of all projects succeed (PMI).
  • The average project overrun was 27%, but one in six projects had a cost over-run of 200% on average and a schedule over-run of almost 70% (HBR).

These stats validate why it’s so important to have a change management strategy in place. Data repeatedly shows that implementing change management strategies can enable organizations to successfully complete more projects.

Yet, companies still spend a considerable amount of time and energy training people in project management methodologies and tools, but rarely invest in change management.

The result? Many of the people risks are overlooked.

Change Management Strategies Provide Direction
Developing a change management strategy provides direction and purpose for all change management activities. By outlining the unique characteristics of the change and its risks and potential resistance, change management practitioners set themselves and their project team up for success. 

Every project is unique and the impacts on people and how they perform their job must not be overlooked. Some people will be slow to adopt technological change, become disengaged or even outright resist the change. While others may be pioneers, quick to jump on the bandwagon and evangelize the new solution.  

Technology projects fail all the time, but yours doesn’t have to. Take a look at our 6 Reasons why Technology Projects Fail, and make sure you have a plan in place to not only avoid them but improve your outcome.  

Download Infographic

Supporting links | 4 PM, McKinsey & Company in conjunction with the University of Oxford, Gallup, Harvard Business ReviewPMIHarvard Business Review.


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