Question: Stacie: Your analysis highlights a big issue that project managers face when deciding to prioritize their projects over company objectives. Lack of cooperation among teams
Stacie: Your analysis highlights a big issue that project managers face when deciding to prioritize their projects over company objectives. Lack of cooperation among teams causes inefficiencies that undermine productivity and inflate costs. Research shows that when organizations have too many projects running without prioritizing any will cause "project overload." This will lead to thin resources and confusion among the team about what to focus on. A study done by the Project Management Institute showed that organizations that used effective portfolio management had a 20% increase in project success rates. Effective portfolio management is also important to improve project success rates. Another thing to consider is when executives focus on personal achievements rather than strategic goals will create silos that hinder collaboration. In order to address these challenges it is important to foster open communication and align team objectives with corporate strategy. It is also important for executives to priorities organization success over individual accomplishments.
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