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?? Queen of Projects ?? | Strategic & Results-Driven Project Mentoring & Facilitation ?? | Interim Transformation & Turnaround Management?? | Intern. Board Member | Speaker | Author | ex-Big4

The Hidden Costs of Mismanaged Global Projects ?? Take a minute, Global Project Managers! Have you ever considered the true cost of mismanaging a project? Beyond the obvious financial implications, there are several hidden costs that can have a lasting impact on your team and on your organisation . ?? Financial Impact - the obvious Budget Overruns: Mismanagement (from unaddressed conflicts to delayed decisions) can lead to unexpected expenses, causing projects to exceed their budgets. Lost Opportunities: Delays and inefficiencies may result in missed opportunities for business development and innovation. ?? Team Morale Burnout: Constant stress and pressure can lead to burnout, decreasing team productivity and increasing turnover. Reduced Collaboration: Bad management or the lack of management can create a culture of blame, hindering effective communication and collaboration. ? Reputation and Trust Stakeholder Disappointment: Failing to meet project expectations can damage your reputation, the reputation of the project and can erode trust with your stakeholders. This also has an impact on your professional career. Client Dissatisfaction: Unmet deadlines and poor quality deliverables can lead to client dissatisfaction and loss of future business. In very bad situations, this can also lead to legal claims. The Solution The good news is that these hidden costs can be mitigated with the right strategies and support. Have you ever thought of investing in a coaching program for yourself or for your team? DM me! Maybe passion4projects academy is something for you. Join the Journey ?? Stay with me as I continue to share insights and tips on how to achieve project excellence. Together, we can turn these challenges into opportunities for growth and success. Let's Discuss ?? Your Thoughts: What hidden costs have you encountered in your projects? How do you address them? Share your experiences in the comments below and let’s learn from each other! I created this post using the tools: my brain & experience, perplexity ai, ChatGPT, Canva & deepl write.

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