Paradox of project planning - Revision history

Christian Lund: /* Summary of factors for project failure */

2022-03-12T17:32:13Z

Summary of factors for project failure

← Older revision		Revision as of 17:32, 12 March 2022
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	==== Summary of factors for project failure ====		==== Summary of factors for project failure ====
	Given that some of the factors in this article can be described as key drivers of failure, an entire other article could outline drivers of failure in greater detail. Like project success it is very individual to each project what are the important factors. A large issue with project management is found within time~~, as this~~ limiting factor drives the project manager to ~~making~~ choices without achieving perfect information <ref name=perfect> https://en.wikipedia.org/wiki/Perfect_information#:~:text=In%20economics%2C%20perfect%20information%20(sometimes,utility%2C%20and%20own%20cost%20functions. </ref>. ~~This allows~~ factors such as bias to ~~influence decisions as they~~ provide the manager with a quicker response time. This response time is only achieved as the manager is gone astray and does not consider the full picture. The main strategy to keep avoid failing is a constant examination of your own actions throughout a project.		Given that some of the factors in this article can be described as key drivers of failure, an entire other article could outline drivers of failure in greater detail. Like project success it is very individual to each project what are the important factors. A large issue with project management is found within time. Time is the limiting factor that drives the project manager to make choices without achieving perfect information <ref name=perfect> https://en.wikipedia.org/wiki/Perfect_information#:~:text=In%20economics%2C%20perfect%20information%20(sometimes,utility%2C%20and%20own%20cost%20functions. </ref>. Without perfect information decision can be affected by factors such as bias, in order to provide the manager with a quicker response time. This response time is however, only achieved as the manager has gone astray and does not consider the full picture. The main strategy to keep avoid failing is a constant examination of your own actions throughout a project, and of course correction if certain issues are found.

	== Successful failures & failing successes - limitations of project evaluation <ref name=Successful_fail/> ==		== Successful failures & failing successes - limitations of project evaluation <ref name=Successful_fail/> ==

Christian Lund: /* Sub optimization */

2022-03-12T17:28:40Z

Sub optimization

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	==== Sub optimization ====		==== Sub optimization ====
			As organizations often need to resolve issue within a certain timeframe, efficiency is often being measured. This is often done via the earlier mentioned KPI's, as they provide tangible and measurable goals for the members of the organization. Here it is important to understand the difference between [http://wiki.doing-projects.org/index.php/Efficiency_vs._Effectiveness efficiency versus effectiveness]<ref name=eve> Stefanos Mouzas, [https://www.sciencedirect.com/science/article/pii/S0148296306001469 Efficiency versus effectiveness in business networks], Journal of Business Research, Volume 59, Issues 10–11, 2006, Pages 1124-1132, ISSN 0148-2963. </ref>. Efficiency is mainly just the focus of doing something fast, whereas effectiveness is how much a certain task benefits goal completion. The issues related to KPI's and measuring is it puts a focus on ''"doing things right" - Peter Drucker''. This is inherently not an issue, but rarely are the tasks that projects set out to solve simple, and this complexity makes it hard to define metrics that are well defined for what the project goals are.

			A common example here is that of call centers. They generally have a metrics for length of calls and of customer satisfaction. The goal here is for the worker to give good service over a short period of time. The challenge is knowing what is good customer service? Whereas tracking the length of a call is very tangible and measurable objective. This can lead project managers to over stimulate their workers to have even shorter calls, which in turn leaves the customers unsatisfied. This creates an unintended effect of measuring, and is something to constantly needed to be managed.
	~~<ref name=eve> Stefanos Mouzas, [https://www~~.~~sciencedirect~~.~~com/science/article/pii/S0148296306001469 Efficiency versus effectiveness~~ in ~~business networks], Journal~~ of ~~Business Research, Volume 59, Issues 10–11, 2006, Pages 1124-1132~~, ~~ISSN 0148-2963~~. ~~</ref>~~

	==== Risk management ====		==== Risk management ====

Christian Lund: /* Measuring project success */

2022-03-12T16:03:42Z

Measuring project success

← Older revision		Revision as of 16:03, 12 March 2022
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	In the triangle it is impossible to run a project that produces maximum value in all three perspectives as they coexists as trade-offs between each element.		In the triangle it is impossible to run a project that produces maximum value in all three perspectives as they coexists as trade-offs between each element.

	The Iron triangle is however, a simplification of where success is derived from. In some cases [http://wiki.doing-projects.org/index.php/Beyond_the_Triple_Constraint more dimensions] are added to the iron triangle to give a more complex but fulfilling perspective. Other suggestions from the literature council a different approach to success <ref name=Successful_fail> Bourne, L. (2007). Avoiding the successful failure. Paper presented at PMI® Global Congress 2007—Asia Pacific, Hong Kong, People's Republic of China. Newtown Square, PA: Project Management Institute. </ref>. It mentions three other pillars of project success.		The Iron triangle is however, a simplification of where success is derived from. In some cases [http://wiki.doing-projects.org/index.php/Beyond_the_Triple_Constraint more dimensions] are added to the iron triangle to give a more complex but fulfilling perspective. Other suggestions from the literature council a different approach to success <ref name=Successful_fail> Bourne, L. (2007). [https://www.mosaicprojects.com.au/PDF_Papers/P046_Successful_Failure.pdf Avoiding the successful failure.]. Paper presented at PMI® Global Congress 2007—Asia Pacific, Hong Kong, People's Republic of China. Newtown Square, PA: Project Management Institute. </ref>. It mentions three other pillars of project success.
	# '''Delivering Value''' <br /> The Iron Triangle falls into this category as the aspects of delivering value. This however also encapsulates things such as scope and how the project realizes the appropriate conditions for it to come to fruition.		# '''Delivering Value''' <br /> The Iron Triangle falls into this category as the aspects of delivering value. This however also encapsulates things such as scope and how the project realizes the appropriate conditions for it to come to fruition.
	# '''Managing Risk''' <br /> Uncertainties is a big part of projects. The objective of a project is to try and form the future in a desired way, but often unexpected events occur that makes the future deviate from the initially chosen path. It is the project managers task to either reign the in the deviance, or choose to continue down this new path. This entire subject will be discussed later in the article.		# '''Managing Risk''' <br /> Uncertainties is a big part of projects. The objective of a project is to try and form the future in a desired way, but often unexpected events occur that makes the future deviate from the initially chosen path. It is the project managers task to either reign the in the deviance, or choose to continue down this new path. This entire subject will be discussed later in the article.

Christian Lund: /* Sub optimization */

2022-03-12T15:46:52Z

Sub optimization

← Older revision		Revision as of 15:46, 12 March 2022
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	<ref name=eve> Stefanos Mouzas, [https://www.sciencedirect.com/science/article/pii/S0148296306001469 Efficiency versus effectiveness in business networks], Journal of Business Research, Volume 59, Issues 10–11, 2006, Pages 1124-1132, ISSN 0148-2963. </ref>		<ref name=eve> Stefanos Mouzas, [https://www.sciencedirect.com/science/article/pii/S0148296306001469 Efficiency versus effectiveness in business networks], Journal of Business Research, Volume 59, Issues 10–11, 2006, Pages 1124-1132, ISSN 0148-2963. </ref>

	Abstract: Efficiency and effectiveness are central terms in assessing business performance, yet the challenge for companies is to balance efficiency with effectiveness in business networks. Companies often fail to achieve differentiation and innovation in their surrounding networks, through dealing with efficiency and neglecting effectiveness. This article describes the term efficiency as a necessary condition or hurdle reflected in the company's operating margins, and ‘effectiveness’ as the company's ability to generate a sustainable growth of earnings in its surrounding network. The study builds on notions of efficiency and effectiveness using empirical research in manufacturer-retailer networks conducted between 2002 and 2005. The study draws conclusions to the importance of linking efficiency and effectiveness and more widely on companies' performance in business networks.
	~~Keywords: Business networks; Performance; Efficiency; Effectiveness~~

	==== Risk management ====		==== Risk management ====

Christian Lund at 15:39, 12 March 2022

2022-03-12T15:39:07Z

← Older revision		Revision as of 15:39, 12 March 2022
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	==== Sub optimization ====		==== Sub optimization ====


			<ref name=eve> Stefanos Mouzas, [https://www.sciencedirect.com/science/article/pii/S0148296306001469 Efficiency versus effectiveness in business networks], Journal of Business Research, Volume 59, Issues 10–11, 2006, Pages 1124-1132, ISSN 0148-2963. </ref>

			Abstract: Efficiency and effectiveness are central terms in assessing business performance, yet the challenge for companies is to balance efficiency with effectiveness in business networks. Companies often fail to achieve differentiation and innovation in their surrounding networks, through dealing with efficiency and neglecting effectiveness. This article describes the term efficiency as a necessary condition or hurdle reflected in the company's operating margins, and ‘effectiveness’ as the company's ability to generate a sustainable growth of earnings in its surrounding network. The study builds on notions of efficiency and effectiveness using empirical research in manufacturer-retailer networks conducted between 2002 and 2005. The study draws conclusions to the importance of linking efficiency and effectiveness and more widely on companies' performance in business networks.
			Keywords: Business networks; Performance; Efficiency; Effectiveness

	==== Risk management ====		==== Risk management ====

Christian Lund: /* = Sub optimization */

2022-03-12T14:53:28Z

= Sub optimization

← Older revision		Revision as of 14:53, 12 March 2022
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	One of the bias that can in pact a project is the Dunning-Kruger Effect <ref name=KD_effect> Carlton, Darryl. (2017). [https://www.researchgate.net/publication/317003302_Competence_versus_Confidence_in_IT_Project_Leadership_and_its_Impact_on_Project_Outcomes "Competence versus Confidence in IT Project Leadership and its Impact on Project Outcomes"]. Journal of Modern Project Management. 5. 38. 10.19255/JMPM01304. </ref>. This bias is found mostly in people that have little to no knowledge of a certain field of expertise, where the individual with no skills highly over estimate their ability within the field of expertise. People with a high level of knowledge, tends to have the opposite tendencies, where they develop the imposter syndrome and doubt their own ability. These two effects can in tandem ruin projects, as people who know nothing will forcefully exert their will on the project, while people with a high level of knowledge will back off as they fear they might be wrong. If the project manager does not identify who within their team processes true knowledge within a field, they can be led astray an focus on the wrong aspects of a project. The insight gained here, is that projects can fail if participants of the project are not also treated as stakeholders, and the project manager considers all of their concerns and not just the most vocal members.		One of the bias that can in pact a project is the Dunning-Kruger Effect <ref name=KD_effect> Carlton, Darryl. (2017). [https://www.researchgate.net/publication/317003302_Competence_versus_Confidence_in_IT_Project_Leadership_and_its_Impact_on_Project_Outcomes "Competence versus Confidence in IT Project Leadership and its Impact on Project Outcomes"]. Journal of Modern Project Management. 5. 38. 10.19255/JMPM01304. </ref>. This bias is found mostly in people that have little to no knowledge of a certain field of expertise, where the individual with no skills highly over estimate their ability within the field of expertise. People with a high level of knowledge, tends to have the opposite tendencies, where they develop the imposter syndrome and doubt their own ability. These two effects can in tandem ruin projects, as people who know nothing will forcefully exert their will on the project, while people with a high level of knowledge will back off as they fear they might be wrong. If the project manager does not identify who within their team processes true knowledge within a field, they can be led astray an focus on the wrong aspects of a project. The insight gained here, is that projects can fail if participants of the project are not also treated as stakeholders, and the project manager considers all of their concerns and not just the most vocal members.

	==== Sub optimization ===		==== Sub optimization ====

	==== Risk management ====		==== Risk management ====

Christian Lund: /* Factors of project failure */

2022-03-12T14:21:50Z

Factors of project failure

← Older revision		Revision as of 14:21, 12 March 2022
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	===== Dunning-Kruger Effect & Imposter Syndrome =====		===== Dunning-Kruger Effect & Imposter Syndrome =====
	One of the bias that can in pact a project is the Dunning-Kruger Effect <ref name=KD_effect> Carlton, Darryl. (2017). [https://www.researchgate.net/publication/317003302_Competence_versus_Confidence_in_IT_Project_Leadership_and_its_Impact_on_Project_Outcomes "Competence versus Confidence in IT Project Leadership and its Impact on Project Outcomes"]. Journal of Modern Project Management. 5. 38. 10.19255/JMPM01304. </ref>. This bias is found mostly in people that have little to no knowledge of a certain field of expertise, where the individual with no skills highly over estimate their ability within the field of expertise. People with a high level of knowledge, tends to have the opposite tendencies, where they develop the imposter syndrome and doubt their own ability. These two effects can in tandem ruin projects, as people who know nothing will forcefully exert their will on the project, while people with a high level of knowledge will back off as they fear they might be wrong. If the project manager does not identify who within their team processes true knowledge within a field, they can be led astray an focus on the wrong aspects of a project. The insight gained here, is that projects can fail if participants of the project are not also treated as stakeholders, and the project manager considers all of their concerns and not just the most vocal members.		One of the bias that can in pact a project is the Dunning-Kruger Effect <ref name=KD_effect> Carlton, Darryl. (2017). [https://www.researchgate.net/publication/317003302_Competence_versus_Confidence_in_IT_Project_Leadership_and_its_Impact_on_Project_Outcomes "Competence versus Confidence in IT Project Leadership and its Impact on Project Outcomes"]. Journal of Modern Project Management. 5. 38. 10.19255/JMPM01304. </ref>. This bias is found mostly in people that have little to no knowledge of a certain field of expertise, where the individual with no skills highly over estimate their ability within the field of expertise. People with a high level of knowledge, tends to have the opposite tendencies, where they develop the imposter syndrome and doubt their own ability. These two effects can in tandem ruin projects, as people who know nothing will forcefully exert their will on the project, while people with a high level of knowledge will back off as they fear they might be wrong. If the project manager does not identify who within their team processes true knowledge within a field, they can be led astray an focus on the wrong aspects of a project. The insight gained here, is that projects can fail if participants of the project are not also treated as stakeholders, and the project manager considers all of their concerns and not just the most vocal members.

			==== Sub optimization ===

	==== Risk management ====		==== Risk management ====
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	==== Summary of factors for project failure ====		==== Summary of factors for project failure ====
	Given that some of the factors in this article can be described as key drivers of failure, an entire other article could outline drivers of failure in greater detail. Like project success it is very individual to each project what are the important factors. A large issue with project management is found within time, as this limiting factor drives the project manager to making choices without achieving perfect information <ref name=perfect> https://en.wikipedia.org/wiki/Perfect_information#:~:text=In%20economics%2C%20perfect%20information%20(sometimes,utility%2C%20and%20own%20cost%20functions. </ref>. This allows factors such as bias to influence decisions as they provide the manager with a quicker response time. This response time is only achieved as the manager is gone astray and does not consider the full picture. The main strategy to keep avoid failing is a constant examination of your own actions throughout a project.		Given that some of the factors in this article can be described as key drivers of failure, an entire other article could outline drivers of failure in greater detail. Like project success it is very individual to each project what are the important factors. A large issue with project management is found within time, as this limiting factor drives the project manager to making choices without achieving perfect information <ref name=perfect> https://en.wikipedia.org/wiki/Perfect_information#:~:text=In%20economics%2C%20perfect%20information%20(sometimes,utility%2C%20and%20own%20cost%20functions. </ref>. This allows factors such as bias to influence decisions as they provide the manager with a quicker response time. This response time is only achieved as the manager is gone astray and does not consider the full picture. The main strategy to keep avoid failing is a constant examination of your own actions throughout a project.


	== Successful failures & failing successes - limitations of project evaluation <ref name=Successful_fail/> ==		== Successful failures & failing successes - limitations of project evaluation <ref name=Successful_fail/> ==

Christian Lund: /* Risk management */

2022-03-12T13:54:30Z

Risk management

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	==== Risk management ====		==== Risk management ====
	Given that risk management is also defined as a key to success, this is the other side to this coin. Even initially successful projects, that manage their risk optimally, can fall prey to circumstance. Circumstance can cause the project to collapse. An example here, is when things go wrong within a project outside of the project manager control, senior management might lose faith and start to squeeze the ~~budge~~,t while maintaining their required goals for the project. This effectively ensure that the project will fail, as the initial scope cannot be maintained because they fell behind due to the error, or they simply fall behind due to lack of funding. Risk implies there is a outcome that has negative consequences for the project, and the level of risk willingness of the project stakeholders is an important asset to manage. Even if the risk taken along with opportunities fall out in favor of the project manager, the stakeholders might feel their risk tolerance <ref name=tolerance> http://wiki.doing-projects.org/index.php/Risk_tolerances </ref> have been exceeded and they no longer wish to participate in the project.		Given that risk management is also defined as a key to success, this is the other side to this coin. Even initially successful projects, that manage their risk optimally, can fall prey to circumstance. Circumstance can cause the project to collapse. An example here, ***is when things go wrong within a project outside of the project manager control, senior management might lose faith and start to squeeze the budget, while maintaining their required goals for the project. This effectively ensure that the project will fail, as the initial scope cannot be maintained because they fell behind due to the error, or they simply fall behind due to lack of funding. Risk implies there is a outcome that has negative consequences for the project, and the level of risk willingness of the project stakeholders is an important asset to manage. Even if the risk taken along with opportunities fall out in favor of the project manager, the stakeholders might feel their risk tolerance <ref name=tolerance> http://wiki.doing-projects.org/index.php/Risk_tolerances </ref> have been exceeded and they no longer wish to participate in the project.

	==== Summary of factors for project failure ====		==== Summary of factors for project failure ====

Christian Lund: /* Stakeholder management http://wiki.doing-projects.org/index.php/Stakeholder_Management */

2022-03-12T13:50:26Z

Stakeholder management http://wiki.doing-projects.org/index.php/Stakeholder_Management

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	==== Stakeholder management <ref> http://wiki.doing-projects.org/index.php/Stakeholder_Management </ref> ====		==== Stakeholder management <ref> http://wiki.doing-projects.org/index.php/Stakeholder_Management </ref> ====
	Undertaking projects means creating a temporary organization <ref> ISO 21502 Standard p. 10 - section 4.5.1 </ref>. Stakeholders are defined as anyone that can be affected by the activities undertaken by this organization. It is therefore important to engage stakeholders in an appropriate fashion <ref> ISO 21502 Standard p. 39 - section 7.12 </ref>. The appropriate level of engagement means a need for the project manager to identify the level of engagement from each stakeholders. Some with high level of interest and power will be key players while other will only be observers and should only be monitored. If key players are misjudged and not consulted enough, they can cause troubles for any given project. The goal here is to soothe concerns and engage with actors that can benefit the project.		Undertaking projects means creating a temporary organization <ref> ISO 21502 Standard p. 10 - section 4.5.1 </ref>. Stakeholders in [http://wiki.doing-projects.org/index.php/Stakeholder_Management stakeholder management] are defined as anyone that can be affected by the activities undertaken by this organization. It is therefore important to engage stakeholders in an appropriate fashion <ref> ISO 21502 Standard p. 39 - section 7.12 </ref>. The appropriate level of engagement means a need for the project manager to identify the level of engagement from each stakeholders. Some with high level of interest and power will be key players while other will only be observers and should only be monitored. If key players are misjudged and not consulted enough, they can cause troubles for any given project. The goal here is to soothe concerns and engage with actors that can benefit the project.

	==== Risk management <ref> http://wiki.doing-projects.org/index.php/Risk_and_Opportunities_Management </ref> ====		==== Risk management <ref> http://wiki.doing-projects.org/index.php/Risk_and_Opportunities_Management </ref> ====

Christian Lund: /* Risk management http://wiki.doing-projects.org/index.php/Risk_and_Opportunities_Management */

2022-03-12T13:49:06Z

Risk management http://wiki.doing-projects.org/index.php/Risk_and_Opportunities_Management

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	==== Risk management <ref> http://wiki.doing-projects.org/index.php/Risk_and_Opportunities_Management </ref> ====		==== Risk management <ref> http://wiki.doing-projects.org/index.php/Risk_and_Opportunities_Management </ref> ====
	Risk management is a focus on the likelihood that a given project achieves it's objectives <ref> ISO 21502 Standard p. 34 - section 7.8 </ref>. This refers both to minimizing potential risks while capitalizing on potential opportunities <ref name=Successful_fail/>. Each project risk identified also needs to be analyzed and have an action plan attached to it. To act upon identified risks and opportunities goes hand in hand with stakeholder management, as posed risk to the project easily can come from human causes. Other risks as environmental changes such as economic collapse or natural disasters also needs to be considered. Equally to stakeholder management it is often chosen to focus on the most likely risks and opportunities.		[http://wiki.doing-projects.org/index.php/Risk_and_Opportunities_Management Risk management]is a focus on the likelihood that a given project achieves it's objectives <ref> ISO 21502 Standard p. 34 - section 7.8 </ref>. This refers both to minimizing potential risks while capitalizing on potential opportunities <ref name=Successful_fail/>. Each project risk identified also needs to be analyzed and have an action plan attached to it. To act upon identified risks and opportunities goes hand in hand with stakeholder management, as posed risk to the project easily can come from human causes. Other risks as environmental changes such as economic collapse or natural disasters also needs to be considered. Equally to stakeholder management it is often chosen to focus on the most likely risks and opportunities.

	==== Summary of achieving success ====		==== Summary of achieving success ====