Many [business] people focus on what is static, black and white. Yet great algorithms can be rewritten. A business process can be defined better. A business model can be copied. But the speed of execution is dynamic within you and can never be copied. When you have an idea, figure out the pieces you need quickly, go to market, believe in it, and continue to iterate.
Gurbaksh Chahal – Entrepreneur
Managing by projects is not new. Earliest homo sapiens had to gather food, hunt for food, build shelter, and propagate their clans. Each activity had a beginning and end with a specific work-driven purpose. Sounds like a project to me.
Architectural, accounting, engineering, and consulting have been doing projects for years. Let’s look at key project practices:
- Specific objective. The result, objective, or deliverable (think execution) may be reducing nonconformances by 50%, building a bridge, making 10 cold calls a day, taking the kids to the zoo, designing an ad, or planning a party. Meeting project objectives is the equivalent of performance and risk management.
- Satisfy stakeholders. The completion of a project is often not good enough. It must be completed on time, on budget, and satisfy many stakeholders. Satisfying stakeholders is customer management.
- Specific start date. The project starts at an agreed upon time. ‘Do as you say and say as you do’ is an example of self management.
- Defined date. The project may end when the goal has been achieved or when all resources have been consumed. Or, a project may evolve into an ongoing process of continuous improvement. Finishing the project on time and on budget is an example of risk management.
- Resources, such as equipment and monies, are required to complete the project. Managing project resources efficiently and effectively is fundamental to project management.
- VUCANs or teams must have the skills to complete the project successfully. Ensuring project team member have the requisite knowledge, skills, and abilities is knowledge management.
Work Lesson Earned: All critical project elements map one-to-one to Working It critical practices. Why? Companies want to get things done faster, better, and cheaper. This is the new normal for VUCANs who can self manage.