Fast and furious?

Academics and others are peddling the line that business is changing so fast that it is pointless setting out on a project of any duration because too much can change in the meantime. So, instead, you’re to focus on defining the problem and identify what assumptions are involved in this problem definition and therefore what [...]

Please sir, can I have some more?

When considering a request for additional funding there are three types of funds — sunk funds, the ‘money at risk’ (to be spent in the next phase) and the remaining projected cost of the project. The remaining projected costs have not yet been spent.
Money already spent is ‘sunk’ and cannot be recovered. Money not yet [...]

Who’s on first?

Many of you will know the famous Abbott and Costello comedy routine about who is on the various bases at a baseball game. Because the player is called “Who” there is great confusion as to who is on first base.

(see http://vintage.videosift.com/video/Abbott-and-Costellos-Whos-on-First-Routine)
Which brings me to this week’s topic — when evaluating project proposals, who’s on [...]

The three indelible numbers

There are three numbers that should be indelibly burned on every Sponsor, Steering Committee member, Investment Committee member and Project Manager’s mind when approaching projects. These three numbers are 15%, 35% and 5%.
These numbers have remained constant for the past 17 years, since the first such analysis was done by AD Little in 1991. Indeed, [...]

6: The Evaluation Model

When life was simpler, projects could be assessed on their claimed return on investment (ROI). If the project was financially worthwhile (at the time of approval) and supported by some executive, it would be approved.
Projects tended to be approved in isolation creating problems at the portfolio level clashes and when they came to be implemented.
So [...]