Topic Teasers Vol. 73: Multi-year/Complex Projects

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  Cost Management   Estimating   Manufacturing   Risk Management   Stakeholder Management  

When projects are a normal length, I’m experienced. But now I’m being asked to head a multi-year project that promises to be very complex. Is it just frying fish in a bigger pan, or are there special procedures to know when the undertaking is massive and international, or even just longer and involving more personnel than normal?

A. Long-term projects are challenging and offer a great sense of accomplishment, but there are some risks and procedural modifications to layer onto your usual processes if you hope to be successful. Thinking ahead is crucial, as any errors or missed estimates are magnified.

B. Large projects are scary at first, but because you have so much time and such a large budget, it is easier to balance small errors and still come out within your original metrics. Just be sure the team is signed to a contract of at least six months past the estimated completion date.

C. Projects that will take more than six months and exceed $1 million dollars need more than one project manager. The escalation metric is simple: each quarter on the corporate calendar and each quarter of a million dollars added to the budget equal one additional project manager.

D. Create a rolling staff plan for this endeavor, as people will get too bored and lose their ability to find creative solutions when a project drags on.…

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