Mistakes occurs in the project because of various reasons. Only about 29% of the total Information Technology project are successful and about 70% of them fail due to various mistake such as poor planning, lack of communication and other mistake done by project manager or its stakeholders (Levinson, 2008). All project should be done according to the guideline provided by the standard project management processes. This process help to reduce the project related mistake and increase the success rate by providing various guideline. According to Philips (2014) standard project management approach provide the following guideline that help to increase the project success rate.
- Establish the rules, policies, and expectation for each project team
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This company provide various types of cloud base subscription service that offer variety of feature like auto upload from its camera to cloud for on-the-go access, sharing the information via smart phone, editing, expanded library of sound tract and range of support option to its consumers including warranty and damage protection (Reuters, 2017). On 2014, this company has its net worth above 3.3 billion but within last year when company launch gpro hero 5 camera and karma drone its stock drop from $85 to $9 bringing down the net worth below 2 billion (Mac, 2016). Recently, this company gave layoff to 7% of its total work force and its sales is dropping day by …show more content…
As soon as it came to the market, hero 4 drop its sales revenue because of various problem in the hardware and software of the system. They do not have removeable battery, lower spaces, small camera size and less features in the camera. They launched their hero 5 camera and drone on 2016. Looking back not front was the biggest mistake they made while introducing the camera and drone. The company only fixed the problem they had on their hero 4 cameras and for drone their power storage capacity was not good that made drone stop function and fall from the sky. Company did not analyses about their future competition and get rush to launch their new product. They did not include any more feature that help to defect their competitor in the market. As a result, many other company including DJI release their small Mavic drone with less price and more feature compare to gpro, this made gpro to drop the sale and stock down to less than $10 (Mac,