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No Contingencies exist for bad or good surprises.
As mentioned previously, risk and change, just like s___, happens. Risk and change can cause bad or even good things to happen that are never accounted for. |
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What to do about it!
As best as possible, determine probable areas where risk or change could have a huge impact on the PD effort and then plan (fund!) for reasonable, alternative actions. One common problem is not having Go/No-Go milestones in a project; sometimes changing direction or 'pulling the plug' is much a better alternative than continuing to throw effort and funds down a hole.
Likewise, when things go unexpectedly good, you need alternative actions too. You could save money, decrease time to market, open new market segments, etc.
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No management, investor or team visibility: i.e. project, financial and exit milestones don't exist.
How do the business participants (stakeholders) know when and if their investments and expectations will bear fruit? |
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What to do about it!
Define the plan and effort such that the participants will have measurable product and project milestones to allow enough visibility so they are able to track the effort and know when their expectations will be met. Major stakeholders are:
- Investors - when will they see a return on their investments?
- Managers / Executives - when will business and personal expectations occur?
- Team members - when will project goals and personal expectations occur?
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©2003, Richard M. (Dick) Haney
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