Projects Success: Betting Big and Winning | ||||||||||||
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Home > Executive Report > Sponsored Content
There are tried-and-true principles that can help you increase your project success rate. They involve key executive decision-making, team collaboration and process integration issues, and project portfolio management can help in all three areas.
The other day I took a great proposal to the board: take $100,000 and bet it all on a horse at the track. Strangely, they weren’t in favor of my plan; they just didn’t seem to understand that I had done quite a bit of research and felt that this was a great way to increase the bottom line.
You’re probably thinking the same thing they were: “You can’t do that with corporate money!”
But I say, what’s the difference between taking the R&D budget to the racetrack or committing it to a new initiative? Sure, risk managers conduct research and analyses before launching a new project; they “make sure” it will succeed. But something’s not working right because if you google “IT project failure” you’ll quickly discover that the success rates in IT project management aren’t great. In fact, taking $100,000 to the racetrack might not seem so crazy after all.
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