How to use critical success factors
John Rockart coined the phrase ‘critical success factors’ meaning factors that need to be measured and managed as pre-requisites to success. The project fraternity redefined this phrase to mean “the most important success measures”—and they’re wrong, writes Jed Simms.
Seeing benefits in project cost
Is the glass half full or half empty? It depends on whether you consider the water a cost or a benefit. Do you fill up an empty glass with benefits, or do you drain a full glass to satisfy your thirst? Excuse my imperfect analogy but there’s something wrong with the way we look at […]
The kindness and cruelty of project management
Jed Simms long ago discovered that the opposite to project ‘success’ is rarely failure but ‘compromise’ in project delivery performance and in compromised future performance. Here he insists we have to be cruel to achieve the project outcomes we want.
6 reasons to stop funding a project
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. But when should you stop funding altogether?