Guarantee Project Success 2

I suggested in my previous blog piece the idea that a powerful definition of a project would be:

“A project is the way that an organization takes a risk”.

I think this is powerful for several reasons:

1. It’s universal – it doesn’t matter what type of project you’re running, you invest resources with the intention to capture value.
2. It formally acknowledges uncertainty – every project has it, but most teams are in denial about the extent of it. For instance, enterprise transformation projects are very often a process of discovery, rather than the execution of a set of pre-defined steps – yet I seem them planned-out like concrete projects all the time!
3. When you take risks you continually assess alternative outcomes for merit. These are “real options” and they have positive inherent value.
4. It creates a tacit permission to consider course changes during the project if new outcomes are perceived.  The selection of these outcomes would still be considered success!
5. A thorough consideration of project domain complexity will reveal that we tend to vastly over-simplify our approach to them.  The definition suggests the proper appraisal of the project’s complexity is necessary.
6. It embeds the project within the organization, and the portfolio of changes that are occurring inside it and in its external context.

It’s unusual to discuss risk-taking, rather than risk-management.  Most project management tools are risk management tools, focusing on minimizing risk for a single course of action, a single outcome.  Risk taking is another art entirely.

I’m sure I’ve got more to say about this subject – until next time!

— Philip Greenwood

Tags:  Project+success, Project+failure, Risk+management

Comments

[Jas Dhaliwal]

Hi Phillip and Jason,

Great to meet the both of you at the Blue Monster coffee. Your blog is great and very insightful!

Cheers

Jas