Poor project management wastes $122 million for every $1 billion spent globally.
I've taught 100s, advised 10s of firms, helped develop worldwide project management standards, and led multimillion-dollar projects on three continents.
1 secret strategy I always used 👇
The secret is:
Choosing the best project approach.
Which could be one of these:
1. Heavy (Traditional, Plan-driven, Waterfall)
2. Light (Agile, Adaptive).
3. Blend (Hybrid of the two.)
Construction should be heavy and software light, but what about other projects?
Use these 5 guidelines to figure out which approach to use:
1. Requirements Stability
2. Organization Culture
3. Team Size
4. Failure Consequences
5. Workers skills level
1/ Requirements Stability
Choose a heavy approach if few requirements are changing.
Light approach is better when there are many changes.
Hybrid is the best option if you're in the middle.
Indicator:
% of requirement change requests per month:
1% to 5% requirements change, go heavy.
5% to 30% requirements change: Hybrid.
30% to 50% requirements change: light approach.
2/ Organization Culture
If self-managed employees say they require a boss because they thrive in a command-and-control setting, then a project with a plan is best (heavy).
Do they like autonomy? Then choose a light approach.
Indicator:
% of employees who thrive on chaos vs order
10% to 30% = Heavy
30% to 50% = Hybrid
50% to 90% = Light
3/ Team Size
If you have a big team, you should follow a plan.
If you have a small team, it's better to be flexible and light.
Indicator:
# of personnel
200 to 500 = Heavy
10 to 200 = Hybrid
0 to 9 = Light
4/ Failure Consequences
If lives are at stake, then, a heavy plan driven approach is needed.
Comfortable failing forward and fast? Then light approach is better.
Measure:
Losses due to impact of defects
Many lives to single lives = Plan-driven
Essential funds = Hybrid
Discretionary to Comfort funds = light.
5/ Workers skills level
If low skill workers are more than high skill workers, then, plan driven approach is better.
A team of smarts? Then adaptive approach is better.
Indicator:
% of people with low skills versus % of people with high skills
30 Low and 20 High to 40 Low and 15 High = Heavy
20 Low and 25 High = Hybrid
From Zero Low and 35 High to 10 Low and 30 High = Light
What if you have a large team, but all other 4 guidelines say go light?
Answer: Break the large team into smaller teams.
Tools: Scaled Agile, Scrum of Scrums, etc.
And you do the same thing with other measurements, when most guidelines point towards the opposite approach.
We either act on adjusting the remaining few guidelines, or we go hybrid.
TL;DR
You go heavy on projects when:
1/ It's a large team
2/ Lives are at stake
3/ Few requirements are changing
4/ Low skill workers are more than high skill workers
5/ Self-managed employees fail; they need a manager.
If not, choose the light approach!
This thread is based on the papers and body of knowledge from the Project Management Institute (PMI's PMBOK).
To which I've contributed to the last two releases, as well as the work break down structure practice standards.
Want More?
My favorite project management accounts are:
Niche: @polak_jasper
Startup: @bbourque @barrettjoneill
Financials: @IAmClintMurphy @AliTheCFO
Human factor: @dklineii @HarrisFanaroff
Solopreneur projects: @thejustinwelsh
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