Significance of information and data bank in project selections
Answers
Answered by
0
project selection, but the truth is that none of them guarantee an effective use of resources.
When it comes to improving operational effectiveness, organizations are typically not at a loss for ideas. The difficulty comes when it’s time to choose the best project for execution. What we see most often - particularly in the federal sector - is a gravitation towards tackling the biggest, ugliest problems with the highest possible reward.
DEEP DIVE: PROJECT SELECTION: 5 THINGS EVERY ORGANIZATION SHOULD CONSIDER
As tempting as this approach may be, it’s rarely the most effective use of scarce resources. At first glance, the Return On Investment (ROI) of those complex projects may look attractive. Unfortunately, few leaders consider that these big, hairy problems are hairier because several simpler problems lie hidden underneath.
By uncovering and tackling those simple problems first, organizations will see faster results (in time or cost savings, higher product quality, or reduced risk), and the big, ugly problems will become easier to tackle down the road.
When it comes to improving operational effectiveness, organizations are typically not at a loss for ideas. The difficulty comes when it’s time to choose the best project for execution. What we see most often - particularly in the federal sector - is a gravitation towards tackling the biggest, ugliest problems with the highest possible reward.
DEEP DIVE: PROJECT SELECTION: 5 THINGS EVERY ORGANIZATION SHOULD CONSIDER
As tempting as this approach may be, it’s rarely the most effective use of scarce resources. At first glance, the Return On Investment (ROI) of those complex projects may look attractive. Unfortunately, few leaders consider that these big, hairy problems are hairier because several simpler problems lie hidden underneath.
By uncovering and tackling those simple problems first, organizations will see faster results (in time or cost savings, higher product quality, or reduced risk), and the big, ugly problems will become easier to tackle down the road.
Similar questions