Question
To prevent regression in projects that initially show improvement, several strategies could be implemented. First, regular monitoring and evaluation of the project's progress is crucial. This allows for early detection of any issues or setbacks, and immediate action can be taken to address them. Second, continuous training and development of project team members can ensure that they are equipped with the necessary skills and knowledge to sustain the project's success. Third, maintaining clear and open communication among all stakeholders can help to ensure that everyone is on the same page and working towards the same goals. Lastly, it may be beneficial to implement a system of rewards or incentives to motivate team members to maintain high performance levels.
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Over the first four years, the bank launched 33 to 51 projects every six months, each involving 1,600 employees. Initial improvements in efficiency averaged 10%; the gains rose to 20% after a year and 31% after two years. However, despite the impressive gains, 21% of projects failed to yield any improvements. Among the 79% that showed initial improvements, many regressed: only 73% were still producing results above baseline after a year and after two years the number fell to 44%. The researchers examined whether projects that were initially successful could preserve the gains and show continuous improvement, but only 51% of them were continuing to improve a year after launch and after two years the figure dropped to 36%.
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