“Overdue and over budget” is what most often comes to mind whenever one mentions “projects.”
…Would early completion of the projects within the budget reflect a significant business value?
Executing projects is like conducting an orchestra. Various inputs, resources, equipment, decisions and corrective actions have to be brought together at the right place and the right time throughout the life of a project.
Unfortunately, uncertainties get in the way. Tasks take longer, vendors don’t deliver on time, technical glitches happen, requirements change and so on. As these uncertainties unfold, even the most carefully prepared plans go awry. Execution priorities become unclear (which tasks to do first) and unsynchronized (every department, every person starts prioritizing their tasks differently). Consequently, a project is mostly waiting for something or the other.