How do you manage life’s daily unpredictable events in your health, travel, home, life or car? Can you foretell when you will need your health insurance to cover an issue that you did not plan for and are not prepared to cover? What about an issue with your home or car? How much would it cost you to self insure and cover an incident on your home, car or your health? Would you consider it wise to use your emergency funds and retirement saving as your personal insurance policy? Yet many executive and senior managers ask their execution teams to protect the variability of every task and milestone and deliver each one on time so that the entire project will be delivered on time and on budget.
We all purchase insurance to protect against the variability that is a fact of life. When life happens – and it happens to everyone – aren’t you glad during those times that you were smart enough to listen to that inner voice and buy the insurance policy that you knew would protect you and your assets from the unknown? Think about it this way.
"Growth means change and change involves risk, stepping from the known to the unknown." -George Shinn
Gerald Kendall and Kathleen Austin's book "Advanced Multi-Project Management" confronts the critical reason why projects fail and why, according to the Standish Group, project success is not improving. This book addresses the key concerns that senior management has with implementing the right projects at the right time with the right resources to take advantage of a strategic opportunity while at the same time providing guidance to the organization's program managers who are overworked and fighting for resources to complete the project that they already have under way. The book highlights key processes required to control the flow of active projects, develop a correct project network, implement a strategic buffer, establish a single project priority system, enable faster execution and provide a consistent methodology for recovering projects to ensure investment benefits are achieved.
This post has been moved to https://geraldjleonard.com/2020/03/how-buffer-management-improves-project-performance/
"There are no great limits to growth because there are no limits of human intelligence, imagination, and wonder." -Ronald Reagan The purpose of the Theory of Constraints (TOC) Transformation blog is to create a community of Executives, TOC Practitioners, Project Managers, Program Managers, Portfolio Managers and anyone responsible for Execution Management to share their experience, […]