Even with all the resources, toolsets and training available to project managers today many project still do not meet their cost, quality, or budget objectives. Why is that? Is it because of bad leadership? Is it because of technical failures? Is it because of inadequate project planning and controls? Any and all of these could certainly derail a project. However in my 20 years in PM there exists a more fundamental key success factor in project success.
PM’s have to actively manage the change equation. Projects by design always create some kind of change. Some of those changes involve infrastructure, products, processes or behavior. The higher the degree of behavior change the greater the importance of managing the change equation.
Quite simply for sustainable change to occur - (D)*(V)* (F) > cost of change
Where:
D = Dissatisfaction with the status quo. Is there a reason to change? Is that reason clear to everyone involved?
V = Vision of the change. What does the end state look like? Does everyone share the vision. Asked independently of each other could your team members describe a common end state?
F = Process for making the change occur. What is the project process? Does everyone know the process, their role and how they’re going to be engaged?
Cost of change = The obvious costs are monetary but many times there is a cost associated with loss of power, changing organizational structures, loss of relationships etc. . Take a moment to inventory the soft costs of change. Many times the soft costs far exceed the hard costs.
The reality is that many projects have the following characteristics and results:
- D but no V or F = frustration
- D and F but no V = flavor of the month
- V and F but no D = wishful thinking that turns into passivity
So next time you’re diagnosing a runaway project or just want to start a project off on the right foot ask yourself – “What does my change equation look like?”
