In 2008, IBM once again conducted their Global CEO Study, which identified the ability to deal with change as a top C-suite concern. On the heels of this finding, IBM followed-up with the Global Making Change Work Study. This study involved 1,500 practitioners worldwide and delivered a set of findings that demonstrated the value Change Management can bring to a project. All of the numbers I discuss in the rest of this post come from that study.
Perhaps the most frightening finding was that only "41 percent of projects were considered successful in meeting project objectives within planned time, budget, and quality constraints." If you and your main competitor are both implementing a project that can give you a substantial competitive edge, only one of you is going to succeed. The question becomes, how do you ensure that your organization doesn't become part of the 59% failure rate?
Luckily, the study goes on to reveal four elements that can significantly increase a project's chance of success:
- Real Insights, Real Actions
- Solid Methods, Solid Benefits
- Better Skills, Better Change
- Right Investment, Right Impact