HOW ARE YOU MEASURING YOUR RISK?
Elaine T. Jackson, PMP, GPM, CB-PMO, PQ, AI
Project Management Leadership Coach: 15+ years * Project Management Transformation * Certification Success * Unique Technical Leadership Mastery with PQ Positive Intelligence * AI Project Solutions
About two weeks ago I thought of taking a fast trip to Las Vegas for some fun and relaxation. Long overdue! But I looked at my end of the year projects and realized - something has to give.
Get the work done and not have fun.
Have fun and not get hte work done.
I realized I would be taking time away from finishing 2024 strong and successful.
So I decided to do a comparison report and talk about it here on linkedIn.
I was thinking of what I would be missing but my focus was on the corresponding best practices and worst practices: how to confirm successful measures.
Project Manager Action Worst Practice (Casino-Style) Best Practice (Strategy)
Failing to Assess Risks ignoring risks risk assessments mitigation
Unproven Technology untested tools/software research tools/reviews.
Overpromising unrealistic deadlines setting realistic expectations
Ignoring Early Warnings failing strategies monitoring KPIs
Decisions Without Data relying on gut feeling data-driven decision-making
Neglecting Team Input not consulting SME collaborate team insights
Skipping QA forgoing testing to save time embedding quality reviews
Resource Over-allocation overloading key resources balancing workloads
Poor Communication providing vague updates transparent communications
Ignoring Contingency operating without a Plan B developing contingency plans
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Consider this important statement:
"GOOD ENOUGH BEATS BEST IN CLASS"
... meaning sometimes overdoing a task can cause you to lose time and it is quite possible good enough is actually what the client wanted in the first place.
My mother had a saying related to washing china "Better Whole and Dirty than Clean and Broken". Mom was so right!
BUT ..
..this might be interpreted by somone that cuts corners as an opportunity to deliver less because the 'client-will-ever-know'. This is so bad on so many levels! Clients count on contractors and consultants to deliver best results and to be honest. Project managers follow a code of professional conduct that confirms we are honest in every way with our customers.
Risky behaviors in project management can seem like gambling, with the stakes being project success or project failure. By adopting a best practices protocol, project managers can reduce uncertainty and drive more succesful outcomes.
Here's to project management delivered with the needs of the client as the main frocus.
I am thankful for project managers who also live by this focus.
Elaine Jackson, BS, PMP, GPM, CB-PMO, PQ Coach
phone 978 290 8834
blogtalkradio.com/holisticprojectmanager (Audio Blogs)
Ingeniero de Proyectos, Gestión de la Calidad, Gestión de Riesgos
3 个月Great article! Thanks for sharing.
Project Management Leadership Coach: 15+ years * Project Management Transformation * Certification Success * Unique Technical Leadership Mastery with PQ Positive Intelligence * AI Project Solutions
3 个月Have you taken additional risk at the casino and justify it by saying it is only a game ..BUT -you also take risk on projects that do matter at the same level. How you are at work -- is how you are at home -- is how you are at with customers/clients. Take a read in this comparison report - risk needs to be documented and managed using the most appropriate approach using strategies that matter
Project Management Leadership Coach: 15+ years * Project Management Transformation * Certification Success * Unique Technical Leadership Mastery with PQ Positive Intelligence * AI Project Solutions
3 个月the risk at casinos is the same drive one gets when purchasing scratch tickets. The energy that drives one to believe that one more ticket and they will win the jackpot and afterward they will OWN THE WORLD. nope - not a reality Similar to some marketers telling inviduals that they can make 6 or 7 or 8 figure income in 30 dsays. The intensity needed to drive that sort of income -- the average person does not have that drive and most are not willing to push that hard. Most business fail because it take a lot of determination and an unbleievable amount of time to confirm the income starts generating. Risk has a cost and to get to the finish line -- you must be willing to take the chance, make sacerifices, and you must be willing to do a little bit of crying. Big payout -- Big sacrifice.