5 Ways to Save a Failing Project

Not every project can be a success, but losing a project is always costly in terms of time and resources. While sometimes the best thing you can do is unplug it, it's not something you should do without fighting first.

If you notice that a project is failing, instead of ending it immediately, first think about what you can do to save it. Of course, there are many reasons why projects fail – but there are also many ways to save them. Here, we will present 5 tips on steps you can take to rescue a struggling project and make it valuable to your organization.

1. Frame it as a problem

There is no way to alleviate the situation: a failed project is a problem. The first step is to accept this fact. The second step is to diagnose what type of problem you are experiencing. This is what cognitive psychologists call problem framing.

By definition, a problem is a situation in which you have A) a starting state (where your project is now), B) an ending state (project recovery), C) a set of obstacles that prevent a change in state ( the condition that puts you in the current situation) and D) a set of possible behaviors that help you overcome these obstacles.

A problem is considered well structured when you clearly define the 4 elements mentioned above. On the other hand, if at least one of the elements is missing, what you have is an unstructured problem.

Well-structured problems are more likely to be resolved, assuming that by defining each element you are already outlining strategies. Most problems, unfortunately, are not as structured as you would like.

In some cases, you may be missing important information, while in others you may be assuming that information is more or less relevant than it actually is. Instead of jumping to a solution prematurely, you need to assess the situation as objectively as possible.

Sometimes saving a project can seem impossible. This happens most often when you focus on the end goal. It's like trying to lose weight – losing a few pounds seems more likely than losing a hundred pounds. But if you do it piece by piece and break down the weight loss strategy into manageable components, the end goal becomes more manageable and realistic.

Instead of giving up, try framing the problem with your team as a series of smaller steps. This is called climbing the mountain.

Think of a climber trying to reach the peak of Everest. They don't focus on the peak, but rather on the path ahead. Climbers are tactical and are constantly making decisions about which route to take. They know for sure that some routes are safer than others, even if they take longer or require evacuation from the mountain.

And that's okay. As long as you end up somewhere closer to (or helps you get closer to) the peak, you'll be doing just fine. Take this lesson to heart and apply it to your project. Ask yourself what the immediate obstacle is, resolve it, and look for the next obstacle.

The longer route may involve missing a deadline, but it is an acceptable loss when the alternative is to scrap the project entirely.

2. Restructure your team

Sometimes a team's skill set simply doesn't align with the nature of a project, even when that same team may have successfully achieved its goals in the past. Perhaps their methodology is not producing the expected results. Maybe they don't have the technical skills. Or maybe they don't have the right leadership for the current project.

Whatever the case, restructuring a team is a solution, but it cannot be taken lightly. While restructuring doesn't necessarily mean dismissal (regardless of the bad reputation the word has), it does imply a change in team dynamics that can cause more harm than good.

Restructuring can mean anything: bringing new blood to the project, reorganizing the workload, changing leadership, or even reducing staff. How do you restructure your team?

This is a complicated topic, as different issues will require different restructuring. To decide you need to make a diagnosis, trying to find the fundamental issues behind your failed project. Techniques such as the Ishikawa fishbone – causal diagrams that attempt to uncover the reason why events occurred – are excellent tools that can help you better understand the situation.

General advice though: trust your team and interview them. The people closest to the project have an inside perspective that will help you see issues in a different light. They can help you discover the problem and potential solutions. Find the balance between what you see from the outside and what they think is happening.

Restructuring is always a risk. Depending on the person, adapting to a new workflow can be a challenge in itself. If you choose to restructure, make sure your team understands why this is happening and try to make the process as gradual as possible. Also consider short-term solutions, such as bringing in external talent through staff augmentation or freelance models. They can help you fill in the gaps.

3. Consult

For that matter, a complete team restructuring may not be necessary if a few major changes can get the project back on track. Sometimes an expert can bring perspective to a team that is struggling with a project.

A consultant is a great asset when your team does not have the skills and/or knowledge necessary to achieve your project objectives. They can provide insights and expertise, facilitating your team's workflow and helping them grow and expand their skill set.

A team having trouble adapting to new technologies or having constant doubts about the nature of your business are clear signs that you should consider hiring a consultant.

Unlike restructuring, a consultant is a relatively harmless solution, as its impact on team dynamics tends to be quite small in comparison. The consultant's work tends to last relatively short, as the more the team grows, the less it is needed. They can provide training on a specific tool or provide new insights based on their experience with your market. For example, maybe there's a step you've always taken simply because that's how your organization has been doing it for decades. The consultant can help you see that this is unnecessary.

If the team needs the consultant's help for long periods, consider the investment – ​​in the long term, it may be a better solution to restructure.

4. Outsource the project

Sometimes you just need to know when to call it quits, and no, by that we don't mean killing the project, but rather putting it in other people's hands. Outsourcing is a powerful solution that can help transform your project.

It's okay to accept that sometimes a team isn't up to the task. As we said before, even the best teams can face projects they are not equipped to tackle. In these cases, the best option is to seek outside help.

There are two ways to approach this: have the two teams work side by side (which is by far the best scenario) or relegate the entire project to your outsourced solution. The latter model is more suitable for projects where time, resources and/or expertise are lacking.

If you are handing over the project, make sure the new team has enough time to interview the previous team and go over what has already been done. This transition period is extremely important as it will make the work easier in the long term.

Yes, outsourcing will take time, but thanks to modern technology, including cutting-edge AI prediction models, outsourcing companies can form a team in record time from their pool of candidates to take on your project.

5. Prepare for anything

You can start to see the signs of a failed project before it becomes complicated: minor delays, miscommunication, lack of clarity, and failed deliveries. All of this can point to the fact that things may not be going as well as you would like.

Create contingency plans early on and maintain constant communication with your teams, then start resolving issues before they become a full-blown problem. The best way to save a failing project is to avoid getting to the point where you need to rescue it.

Of course, we can't always predict all the worst-case scenarios. Companies could not, for example, anticipate the pandemic and how it would affect their operations. But it was still possible to see signs that things were changing, such as the fact that digital commerce was on the rise, while physical stores were losing more and more appeal. This is the kind of scenario you can plan for, so when the worst happens (like having to close your stores due to a catastrophic pandemic), you'll still be able to pivot your strategy to the digital world.

Revitalize this project: summarizing everything

It's true that not all projects are worth saving. And in some cases, no matter how hard you try, you may not be able to breathe new life into failed initiatives. But in many cases, you may be abandoning projects that are salvageable. When you do the necessary work and embrace your problem-solving skills and strategies, you may very well find that that project you thought would be a waste of time and resources ends up being successful.