Project Decision Time

 

Project Decision Time

When and how to decide if a Project is Dead or if it is a Go’er —
So how do you know when to hold ’em and know when to fold ’em

• Typically we are all working on too many projects with limited resource. At what stage, and what triggers that decision to “cut your losses and walk away”
• Or the decision that you are on a winner and in it for the “long haul”.

 

As Kenny Rodgers sang in – “The Gambler”

“You’ve got to know when to hold ’em, know when to fold ’em,
Know when to walk away and know when to run”

Overview

• How many times do we hang in, telling ourselves that success is 90% perspiration and 10% inspiration. We’re nearly there,  just a whisker more.
• But it never seems to happen and we look back and fret about all of the wasted time, effort and money.
• Conversely, how many times have we decided that a project is going nowhere and walked away from it , only to be racked with nagging doubts that maybe it just need a little bit more, in order to get it over the line. So close and yet so far. Maybe it was. But now, we will never know.
• OK, we’ve hung in when we should have quit and we’ve quit when we should have hung in
• So how do we get the odds in our favor in order to make the right decision
• Is there a sure fire way to make better decisions
• How can we hang in for the right ones and walk away from the wrong ones

There are books, magazines, web pages out there offering techniques and magic solutions, but at the end of the day, do any of them really work.
A common approach is to list the Pros and Cons. Pretty simple really. But does it work ?

For example, I really want to buy that 2 seater convertible. Expensive and totally impractical, but what an automobile!!!. How can I justify the purchase and feel good inside. I know, I’ll do a Pros and Cons list.
Mmmmmmm, not quite the result that I wanted, the number of Cons outweigh the Pro’s

But all is not necessarily lost. If I have another look at the list, maybe there are a few more Pro’s which I might have missed the first time around. Maybe some of those Cons aren’t really that important.
So, with a few adjustments I can cross out a few here and add a few there. Now, lets tally that list up again
Well what do you know, the Pro’s outweigh the Cons – lets go and buy.

My Answer

• Go with your First Gut Feel
• Don’t procrastinate
• Don’t get caught with “Paralyses by Analyses”
• Take that first, instinctive idea and like Nike used to say – Just Do It
• Generally people have a fairly good idea of which way they “really” want to go, before they start the process and will adjust the methodology to get the answer which they “really” want.

What Lessons can we learn

• Save yourself the heartache and troubled nights sleep.
• Statistically it has been proven that 90 percent of the time the first decision/idea/concept which forms in your mind is the one you will finally go with.
• Working on 99 other ways to do the job is just a waste of time and effort

 

Not Only – But Also ……

• Open List Of Pages – Engineering Nostalgia for pages of Old Engineer Memories from Engineering practice in the 1960’s/70’s/80’s – with a bit of armed forces and medieval trivia thrown in
• Regardless of your current status – always ask the question – Is there a Better Way and
  visit the 3R web page for an overview of the 3R Philosophy       Review – Refresh – Reset
• Whenever possible – always follow the KISS Principle
• Challenge yourself and your colleagues with an Engineering Quiz
• Check out Engineering Odd Bits for odd subject matter – including humor and comment