Lack of financial control

• Consistent overrun.

• Acknowledged/perceived complexity level.

• Defined quality goals driving the development of the solution.

• The real effect of steering group actions

The governance controls are most likely not adequate for your complex project for a number of the reasons.

• Underestimation.​

• Understaffing

• Staff turnover

• Burn out

• Moving target

• Decision Latency

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The project is struggling to perform under counterproductive structures, and pushing those structures even more will only make things worse.

Do something different, more of the same won't help.

Reevaluate the total business case.

• Has the value increased at the same rate as the costs?

• Is there adequate funding to finance the entire project?

• Is a subset of the solution still good business?

Then, decide to stop or go.

If “Go”

Forget the detailed financial cost reporting. Time will pass, and costs will be spent; don’t bother measuring that. Look forward, and prepare to be proactive.

Establish quality targets and their relation to value creation.

Make iterations, where each iteration delivers value.

Establish a reporting structure where progress is measured on quality targets and added value.

Stabilize the team. Don’t add resources.

Accept delays; all you do to avoid them will only make them worse.

Ask the team for three quality measures, which will indicate the benefits, which will add value. INSIST! It is a surprisingly difficult task but very necessary. Accept what is presented and go with that. 

Have progress reported on the quality measures, relative to delivering the full value.

After three iterations, discuss the value in each iteration compared to the cost. Reevaluate the project. Will it eventually deliver the expected value?