First Principles of Project Management

It seems ‘first principles’ is one of the newest corporate ‘buzzphrases’, popularized in large part by Elon Musk when he explained his approach with SpaceX and making privatized space travel affordable. And so because Elon said it, and we all want to sound like our ideas and approaches are ‘grounded in science’, it gets woven into conversations and presentations.

In that vein, I thought it would be an interesting exercise to identify the ‘first principles’ of project management.

(And yes, I realize I’m just perpetuating the phrase )

There’s no single definition of what a ‘first principle’ is. But the general idea seems to be to decompose a thing down to its component or constituent parts, to the point where those parts can’t be reduced any further.

First principles are the ‘building blocks’ of the thing. You ‘must’ have these things, in their most basic form.

But the irony of calling out the buzzphrase while also using it aside, this also presents an interesting thought experiment.

The reducing of the thing down to its core components then allows us to reimagine how we might do things differently if we start over from just those core pieces.

So here’s my first pass at the ‘First Principles of Project Management’.

(Note: these apply to Change Management as well, or pretty much any attempt at ‘doing something’)

Principle 1: Do we know ‘what’ we’re trying to accomplish? (Scope)

- We have to know ‘what’ it is we’re doing. Absent this, we’re just doing ‘stuff’.

Principle 2: Do we know ‘why’ we’re trying to accomplish? (Value)

- This helps keep Principle 1 going in the right direction. If we don’t know our ‘why’ then our ‘what’ is in jeopardy. We may accomplish it, but it will be the wrong thing. Similarly, if our ‘why’ changes, our ‘what’ may need to change as well.

Principle 3: Do we know ‘how’ we’re going to accomplish it? (Effort/Expertise)

- This principle addresses 2 aspects of ‘how’ - Do we know what we need to do to accomplish the thing, and do we have the necessary knowledge, skills, etc. to do that?.

- This is ‘not’ about the approach, but rather the ‘work to be done’. For example, if our ‘what’ is to build a new AI model, do we know what we have to do to build one, and do we have the necessary skills and knowledge to build one?

Principle 4: Do we know ‘how long’ it will take to accomplish it? (Time)

- Do we have any understanding of what the commitment we’re agreeing to is?

Principle 5: Do we know ‘how much’ it will cost to accomplish it? (Cost)

- Do we know the approximate cost, is it something we can afford, is it something we ‘want’ to afford, etc.?

(Principles 3 & 4 also inform the make/buy decision. Time and Money (as well as Effort and Attention) aren’t limitless. If it will take longer or cost more than we have, or more than the expected value, maybe it’s’ better to find an existing solution. If an existing solution doesn’t exist, then expected benefit vs expected investment may result in ‘don’t do it’.

Principle 6: Do we know what ‘might prevent us’ from accomplishing it? (Risk)

- Things will happen and get in our way, and either slow us or stop us. Do we know what those are, or where they might come from? This also informs the make/buy/abandon decision. If the ‘risks’ outweigh the benefits, or will significantly impact cost/schedule to the point where benefits vs investment may become unfavorable, then decisions must be made.

So there ‘ya go.

We must have these things in order to ‘do’ something (or at least anything worthwhile). The absence of any one impacts the others, or more importantly, our ability to ‘accomplish the thing’.

Anything I’ve missed?

Anything that doesn’t belong?

Would you approach the First Principles of Project Management in a different way?