Event Date:February 7, 2012
In the “normal” everyday project world, we plan, control and execute projects routinely, until suddenly something changes or goes wrong; an emergency, a changed priority, a changed corporate strategy which causes us to step back and re-evaluate whether we are working on the right project.
But very often we find ourselves continuing to work on the same project because we have already spent a big part of the budget, or because we don’t want to look bad. Making the decision to “kill” an ongoing project is extremely difficult, but we should nurture a culture in which we reward project managers, rather than punishing them, for making such a decision, which in the long run is the best for the company.
The need for a project ranking process is essential to help us stay on track in supporting the company strategy, and in being good stewards of the company capital by always focusing on expending our resources working on the “right” projects.