Traditional methods of project review can be slow and cumbersome as schedules and tasks are reviewed line by line. While that is an important activity, those involved can easily get lost in the detail.
To help you to stay high, here is a technique you can use to speedily review your key strategic projects and priorities. It is designed for team dialog – to gather multiple perspectives on performance and potential.
Whether a project or initiative is on track for success depends on at least 5 key factors – shown visually in the diagram below.
Here are the steps to follow:
Apply the “work the team not the problem” principle letting your team assess the project for itself. As a leader hold yourself back.
A key benefit of reviewing a strategic priority this way is to build the capacity for ‘team reflectivity’ and effective collaboration. It is also the building of resilience and determination through an open dialog on progress as well as obstacles.
On Track – the 5 Factors Explained
Scope: What is included and what is not? Is everybody clear on this?
Time: What is the timeline, including stage gates/staged delivery? Is this the right time? Is the start time, finish time and duration clear? Are assumptions regarding time required clear/safe? Is there enough time? What happens if we run over time? What is the amount of time required might also be here (although it could also be under budget).
Budget: This includes all resources including manpower, time, equipment, etc.
Quality: Are we clear on how quality will be measured? The outputs and deliverables for example.
Business benefit: This includes the outputs of the project and their broader impact on the organization. Is the need clear? What need is this serving? What benefits do stakeholder value? How will benefits be measured / tracked? What are the direct and indirect outcomes?
Would you like our help in assessing the performance and potential of a key strategic priority and the team charged with its execution? Please contact us.