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Agile Project Management

Key factors for successful project realization

Andrej Lovsin
Andrej Lovsin
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February 13, 2024

Successful realization of a project seems a self-evident goal at the very beginning when we embark on a project, but the actual situation is different, especially in IT. On average, as many as 7 out of 10 IT projects are not successful, and in the following text, I will present the key factors that can influence this.

These statistics are certainly not acceptable and are not something we could come to terms with. Imagine, for example, that only three out of 10 cars would be built successfully and driven, or that only three out of ten aircraft would land successfully. In IT, too, it is necessary to find ways to outline and manage projects so that they are eventually successfully implemented.

Critical points that most often cause projects to fail

Many factors influence the failure of projects, but if I had to highlight three key ones, these would be unclear goals, poor communication, and an inadequately designed plan.

The goals of the project should always be very clearly defined

When managing projects, it is a great challenge to define the goals properly. Goals that are too broad cannot lead in the right direction because they are too loose and do not have a clear message. For example, if we are going to create an application, it is necessary to precisely define the ultimate goal. So the question needs to be asked: what will the app address to bring significant added value to someone.

Good communication is key

In any project, all participants, both on the part of the contractor and the client, must actively participate and be engaged in the project. It must be very clearly defined who is responsible for what, and the roles must be defined, who will take on which tasks and until when.

The plan must be well designed but also agile

It is practically impossible to plan any project at the beginning in such a way as to take into account all factors, circumstances and variables. So it is essential to lay a solid foundation and framework and at the same time be highly agile on the way to achieving the goal. It is not good to stick too much to the initial framework and forget about pragmatism. The goal must be kept in mind and approached, and the path must be chosen flexibly, thoughtfully and agile.

These recipes also work 100% in practice

I am proud that easy.bi has never had an inadequately realized project, but it is an absolutely big challenge how to achieve this. We approach projects holistically and with the team we take on all the key roles necessary for a successful course and realization.

In the end, added value counts

In my opinion, it is crucial to always keep in mind, that we have to achieve added value with the final product or that the product provides users with business value. The failure is not only that we do not realize the project. Even if we successfully implement a project, but it has no added value, it is difficult to say that the goal has been achieved.

Business value is something that must be the starting point of the goal and that we must keep in mind at all times. When we invest time, money and work in something, it must be clear to us why we are doing it.

Andrej Lovsin
My name is Andrej. I'm an entrepreneur, mentor, former software developer and investor. My journey into entrepreneurship started at an age of 16 and my fascination with software development began earlier at the age of 12. To me problems are like puzzles waiting to be solved and my trusty companion in this quest is none other than a whiteboard. I truly believe that a a single drawing has the power to express what a hundred words cannot. Throughout the years I have successfully launched businesses spanning industries. All of these ventures share a thread. They harness technology to optimize efficiency. One standout example is easy.bi; a tech startup that specializes in intelligent SaaS solutions designed to streamline business processes. However my interests extend beyond my ventures. Recognizing the value of shared success I devote my time to mentoring aspiring entrepreneurs and helping them navigate the landscape of building and managing a business. Moreover I actively seek out opportunities to invest in and collaborate on ventures that align with my vision for groundbreaking technology that solves problems effectively. In essence I am not a developer or an entrepreneur. I consider myself a lifelong student of problem solving. As a mentor, to those seeking guidance and an investor dedicated to supporting business ideas my mission is clear; driving innovation while making contributions. My strategy is straightforward; I focus on unraveling matters exploring possibilities and making a significant difference, in the field of business technology. I'm always up for a talk, so if you're ever in the mood for one, or even a virtual coffee, I'm just a click away. Maybe we can come up with new insights about your business or simplify some challenges you are dealing with.
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