Inflated or fake project´s ROIs (Return on Investment) can finally lead to inflated corporation´s ROCEs (Return on Capital Emloyed) and to the red ink bottom lines. Too many inflated corporation´s ROCEs finally can succesfully pin down to the touch pad the Adam Smith´s unvisibe hand by well known Quantitative Easing visible hand. Such devil race can usually bring well known market and monetary bubbles which historicaly represents a full manifestation of global financial crisis. Above mentioned two wisdoms or rather approaches, are famous quotes of two wise men. The “Festina Lente - Make haste slowly“ quoted by Octavianus Augustus, Roman Emperor and the „Time is Money“ quoted by Benjamin Franklin, US President. Two wisdoms seems to stay in oposition one to another. But are they really? And even more important question, what are their implications to the global financial crisis?
Join the community. Share your wisdom - lessons or link or a question .
We all make assumptions. Wrong assumptions can have devastating impact not only on a project but also in other areas of our life.
We as humans are well aware that we are driven by cognitive biases which impact also the outcome from decision-making processes. We have natural preferences, are too optimistic, or often go even by gut feelings when it comes to decision-making. In project management, this phenomenon is often leading to what is called the planning fallacy as we are usually underestimating efforts that will be required to deliver work items, we often underestimate the cost of delivery, and we underestimate risks that may impact project outcomes. Often - and we can see an increase over the years - such flaws are leading to project delivery failures.
Lesson #7: Lack of Accountability
We are currently fully facing the COVID-19 pandemic and trying to overcome the obstacles that this time brings to our companies and organizations. What could this situation tell us? Could we have been better prepared as managers on tactical level?
We are currently fully facing the COVID-19 pandemic and trying to overcome the obstacles that this time brings to our companies and organizations. What could this situation tell us? Could we have been better prepared as managers on strategic level?
Having the goals we want to achieve in life is an important part of being human.
Project manager is a frequently abused label for occupational position in the permanent organization also if it does not correspond with the scope of employment of a project manager.
What is the role of the risk tolerance line in project management ?
What is the risks and opportunities management definition?