10 Reasons Why Small Business Projects Fail

Learn from the mistakes of others and you can save yourself some pain. However, if you have already been involved in business projects then you’ve probably also seen some of these hazards.

1. Objectives not clearly defined at the start

If you don’t know where you’re going, how will you know when you’ve arrived?¬†Objectives need to be SMART – specific, measurable attainable, realistic and time-bound.

2. Overly optimistic planning

It is well recognised that project planners regularly overestimate benefits while underestimating costs and time to completion.

3. Lack of regular project monitoring

Even the best project plan is worthless unless the actual project performance is monitored against […]