Project Management Central

Please login or join to subscribe to this thread

Topics: Leadership, Risk Management, Strategy
The formula for reaching Full Project Potential

We recognize that project success can be measured in a myriad of ways and that we can have segmented successes and failures at the same time on a single project. However, we strive to reach “Full Project Potential”; but what does that mean and what are the elements needed to understand and reach this benchmark.

Please share your formula or thoughts on this subject, providing your theory of approach and that which you have recognized when putting it into practice.
Sort By:

This is an interesting question. Just a couple of weeks ago, on another thread here, I recall a conversation about benchmarks and how we often measure project success based merely on whether our initial estimates were correct. Shifting the focus to "project potential" is a nice way of getting our heads where they belong. Just as a project could succeed in spite of (or because of) a wild change from the project plan, a project could fail because we adhere too closely to our original goals and benchmarks. (A project could reach it's full potential by failing quickly!) Especially as project managers, we need to keep the focus on the purpose of our projects, and not merely the mechanics of them.

One of my formulas for success is the adoption of the view that Risk is a moldable substance, and as such, the larger the risk - the more there is to sculpt from. The principle states, that a properly molded and managed risk becomes an ordinary deliverable when one takes the opportunity to re-sculpt it.

Risk is one of the primary elements a project manager needs to understand and manage when it comes to reaching full project potential. This particular formula is purposed to deal with lost opportunities that occur due to outright risk avoidance. Obviously, this formula is meant to challenge assumptions as it is quite interpretative, but principles are important when it comes to wanting a product or service that is fully adopted and not simply “project successful”.

What are some other principles you can share that you have used to direct your projects towards full potential?

Please login or join to reply

Content ID:

"Men occasionally stumble over the truth, but most of them pick themselves up and hurry off as if nothing ever happened."

- Winston Churchill