When It’s not Enough to ‘Just Do It’

The 'Just Do It' attitude could quite often prove to be perilous for the health, and hence success, of a project, if the project manager and other stakeholders, including the top management, are more focused on just doing the project, at any cost, while failing to have all the vital components in place. Unfortunately, it is not an uncommon occurrence. Often, projects fail to yield deliverables which conform to the client’s specifications, overshoot budgets or suffer from project creep. However, given that many of today’s projects are large, contain considerable risks, and are directly aligned with the vision/mission, strategies and goals of the organization, many of them have a dramatic effect on the company’s bottom line profitability. Therefore, it is essential that these projects be started properly with the highest chance of success.

The cover story, “Project Launch”, offers insights into how the project managers can address this challenge and ensure greater success for their projects. According to the author, Project Launch is a facilitated consulting process which uses a facilitator and a scribe to officially launch medium-to-large projects. It is a focused, intense session to ensure a successful start to projects. The purposes of holding a facilitated Project Launch are to: Formally launch the project; to build a common understanding of the project definition, scope and approach; obtain stakeholder buy-in on the project objectives and scope; determine success measurements; build a strong project team with a common vision and, finalize and present the project baseline in the form of a charter and related documentation for approval to move forward with the project. The Project Launch process consists of five steps, namely, the Kick-off Meeting, Training, Communications, Session and Follow-up. According to the author, Project Launch process has shown to be a very powerful and successful way to initiate medium-to-large projects and programs. When done correctly, it provides a positive, quick start to projects that will enable them to be more successful, the author avers.

The base cost estimate and its validation are highly significant to the success of any project. For the owner (client), if the cost estimate is not accurate, financial return from capital investment may not be realized and other deserving projects may not have been funded. The article, “Validation – Success Key in Lumpsum Projects”, discusses key aspects of the validation exercise with strong appreciation for the constraints of the business development/sales department during the preparation of original estimate for the bid. The author says that on a lumpsum project, the profit margin is totally dependent upon the accuracy of the estimate. The loss from an inaccurate estimate, especially on a large project, can potentially put a contractor out of business. On cost-plus projects, though the direct economical risk is less, it can however, cause severe damage to contractor’s reputation. The article focuses on the contractor’s perspective.

Besides, the issue also contains articles which offer powerful insights into Multitasking, OPM3 and Risk Management, among others.

- Amit Singh Sisodiya