Tracking the difference between ‘actual’ and ‘target’ is a really important part of your dashboarding process. My team jokingly calls this delta ‘the shame,’ because that’s what drives them to reflect and iterate.
Content: Quotation | Author: Jaleh Rezaei | Source: First Round Review | Subjects: Management, Project Management
[A premortem is where] at the start of a project, you imagine that the project went wrong and think about what could have caused that result. You put yourself into the future and, in a non-judgmental way, think of all the things that could derail the project. It creates a safe way for people to discuss their concerns without being perceived as criticizing the project. … [ Read more ]
Content: Quotation | Authors: Dan P. Lovallo, Tim Koller | Source: McKinsey Quarterly | Subjects: Management, Project Management
In my work as an angel investor and advisor, I often find myself dishing out the same advice: Do the work to make sure you are building a product that people will actually find valuable. That requires an incredibly deep understanding of the user, their hopes, and their motivations, instead of taking the easier path of operating off of untested assumptions.
Many entrepreneurs may do this … [ Read more ]
Content: Article | Author: Sunita Mohanty | Source: First Round Review | Subjects: Entrepreneurship, Market Research, Marketing / Sales, Project Management
Here’s my simple definition of product/market fit: The value of each user is greater than the cost of bringing them into the product. It means there are enough customers out there and you can efficiently bring them in. […] There are a lot of product/market fit definitions out there that focus on how many users love you. But that misses a key ingredient: the profitability … [ Read more ]
Content: Quotation | Author: Nikhyl Singhal | Source: First Round Review | Subjects: Customer Related, Marketing / Sales, Project Management
Your alpha group is the one that already loves you, that would even love your MVP. It’s your mom who will love anything you make. On the other end of the spectrum, your GA is far more skeptical. Your GA is much harder to please. Their trust is hard to earn and even harder to regain once lost. Your beta is your sweet spot for … [ Read more ]
Content: Quotation | Author: Jiaona “JZ” Zhang | Source: First Round Review | Subjects: Customer Related, Market Research, Project Management
Product teams have been repeating the MVP (Minimum Viable Product) mantra for a decade now, without re-evaluating whether it’s the right way to maximize learning while pleasing the customer.
Well, it’s not the best system. It’s selfish and it hurts customers.
MVPs are too M and almost never V. Customers see that, and hate it. It might be great for the product team, but it’s bad for … [ Read more ]
Content: Article | Author: Jason Cohen | Subjects: Management, Project Management
Only a select few projects deliver their purpose, meet their expected goals, achieve sustainable benefits, satisfy most stakeholders, meet their deadlines and stay within their original financial budget. So what is the secret? What can we learn from the thousands of failed projects? And how can we develop a framework or tool that guarantees, or at least significantly increases the chance of, project success?
Many of … [ Read more ]
Content: Book | Author: Antonio Nieto-Rodriguez | Subject: Project Management
Your organization’s growth opportunities fall into four different categories, and in order to develop your business in a commercially sustainable manner, you need four specific types of project manager to pursue them. The employee types and the growth opportunities that they are best at pursuing can be positioned along two dimensions: (1) Is the growth opportunity in line with our existing strategy? (2) Can a … [ Read more ]
Content: Article | Authors: Carsten Lund Pedersen, Thomas Ritter | Source: Harvard Business Review | Subject: Project Management
The simplest way to implement an idea effectively may not be the simplest way to implement that idea. “Minimum” comes first in “MVP,” but “viable” is at its core.
Content: Quotation | Author: Gina Gotthilf | Source: First Round Review | Subjects: Customer Related, Management, Marketing / Sales, Project Management, Strategy
Project management sounds straightforward and somewhat traditional. A lot of managers are uncomfortable with these two things. They want something new and complicated, something that carries status.
The reality that project management is complex, multifaceted, and universal seems to have passed people by. The fact that project management is not really taught at business schools perpetuates this.
Content: Quotation | Author: Stuart Crainer | Subject: Project Management
In over 20 years of experience in prioritizing, selecting, and managing projects, Antonio Nieto-Rodriguez has developed a simple framework that he calls the “Hierarchy of Purpose.” It is a tool that executive teams can use to help them prioritize strategic initiatives and projects.
Content: Article | Author: Antonio Nieto-Rodriguez | Source: Harvard Business Review | Subjects: Management, Project Management, Strategy
Which projects are in the best interest of our company? What is the best use of its existing and future financial and operational capacities? Alternatively, which projects should we stop, suspend or delay in case of sudden economic downturn or change in our strategy? Providing the means to answer those questions more rationally is precisely the objective of project portfolio management (PPM). PPM is the … [ Read more ]
Content: Article | Author: Antonio Nieto-Rodriguez | Subject: Project Management
A handful of pragmatic tools can help managers decide which projects best fit their portfolio and risk tolerance.
Content: Article | Authors: Anders Rasmussen, Martin Pergler | Source: McKinsey Quarterly | Subjects: Finance, Management, Project Management
Senior executives seem to neither understand project management nor regard it as an important means of business strategy execution. Only a few top business school’s Masters of Business Administration (MBAs) teach project management as part of their core course curriculum. I have spent the last 10 years trying to understand why.
Content: Article | Author: Antonio Nieto-Rodriguez | Subjects: MBA Related, Project Management
Business performance management software can deliver great benefits, but many BPM software implementations fail as a result of the company’s inattention to some key characteristics of a successful initiative.
Content: Article | Authors: Mike Davidson, Richard Holt | Source: Business Finance Magazine | Subjects: Finance, IT / Technology / E-Business, Management, Project Management
Lean Six Sigma brings rigor and discipline to project management, but its approach to project selection is lacking. A new approach incorporates a structured, enterprise-level view of metrics to jump-start corporate innovation.
Content: Article | Author: Forrest W. Breyfogle III | Source: Business Finance Magazine | Subjects: Innovation, Management, Operations, Project Management
An innovative approach to managing product portfolios—the strong-form model—can help companies stay ahead of change.
Content: Article | Authors: Barry Jaruzelski, Ian MacDonald, Richard Holman | Source: strategy+business | Subjects: Management, Organizational Behavior, Project Management
Large IT efforts often cost much more than planned; some can put the whole organization in jeopardy. The companies that defy these odds are the ones that master key dimensions that align IT and business value.
Content: Article | Authors: Jürgen Laartz, Michael Bloch, Sven Blumberg | Source: McKinsey Quarterly | Subjects: IT / Technology / E-Business, Project Management
Some types of risk pose a peskier problem than others for the success of complex projects, but the outcome of large-scale initiatives ultimately rests on how capably managers and their subordinates can detect and respond to unforeseen emergencies. Changing requirements for the project, shifting customer needs, and communication breakdowns are the most frequent and damaging types of risk.
Content: Article | Source: strategy+business | Subjects: Project Management, Risk Management
Projects often fail because organizations put more emphasis on rational factors than on employees’ psychological engagement — and the cost to organizations is enormous.
Content: Article | Author: Benoit Hardy-Vallee | Source: Gallup Management Journal | Subject: Project Management