The following is a quick reader’s digest review of an important article in this month’s issue of PM Network.*
Myth – Process Trumps People
Key Takeaway – The right people need to be empowered to break away from established standards. “Apply as much of the process as is necessary.”
Myth – Execution is Everything
Key Takeaway – A shift from proactive planning immediately to execution leads to reactive firefighting.
Myth – Risk Registers are Only for Planning
Key Takeaway – Convene separate risk review meetings regularly throughout Execution to ensure the mitigation plans are ready in case a risk is triggered.
Myth – You Should Never Kill a Project
Key Takeaway – “To have the business sense and strength to terminate a project that no longer fits the environment is to be praised, not punished.” My own take is this: It only takes one failing project to doom a company.
Myth – After Budgets are Set, New Project Ideas Must Wait
Key Takeaway – Accept new ideas and prioritize them throughout the year in order to maximize the best use of resources. This may mean bumping an existing project, but if the goal is to innovate and improve, you don’t want to wait until budget season to do it.
A lot more could be said on each of these topics. Please review the article beginning on page 43!
*PM Network, February 2014