12 Steps to Recovery from a Project Failure
Even with the best team and strategy, a misstep at any point can derail the entire project.
Rescuing a project that's failing is no easy task for a project manager, so here are 12 steps that a project manager can take to recover from an unsuccessful effort or at least minimize the negative impact:
Acknowledge the failure
Divorce the emotional investments
Recharge, Regroup and Refocus
Review and re-evaluate the overall project health -- in case there's a chance of recovering the troubled project
Prepare to administer "Plan B" project contingency plan
Begin project close-out processes and procedures
Salvage any valuable components or useful assets to reduce the retrospective cost
Conduct a root cause analysis and get feedback from your team and your customers
Conduct post project (postmortem) review to learn from the failures
Letting go the past and move on
Undoubtedly, project managers need to be realistic about their capabilities and the likelihood of failure, and not be so quick to beat themselves up over the occasional setback.
"To err is human, to forgive, divine." - Alexander Pope