2. Think ROI not Triple Constraint
There are many times in many scenarios where because project managers and PMO leaders have been trained to be cost containment engines as opposed to IMPACT engines. Project managers are taught many techniques and spend a lot of energy trying to prevent anything from affecting the triple constraint. We’re always looking for ways to cut costs and not allow change in, to protect that golden triangle. Well, the challenge with that is that sometimes with some projects, they won’t achieve any ROI unless the scope is modified, or the timeline is shifted. While your project team diligently delivers project scope, someone is paying attention and realizes that you won’t achieve that ROI if you don’t make a change. Now comes that battle for protecting that baseline vs. getting to intended IMPACT. Let’s say that the project will only be worth the investment if your company is first to market. As your team is delivering scope, you learn that a competitor is going to launch a competing product next month. Your team needs to decide if they proceed with the current plan, protecting that golden triangle, or dump some scope and speed up the launch. If success is defined by being first to market, then the answer is clear. In this case, protecting the triple constraint would have made the project worthless. How about another scenario that might even be more common? The project is delivered on time and on scope, but budget at completion was $500,000, twice as much as originally planned. The maximum intended benefit to be achieved by the project deliverables is $600,000. So, you were a success, right? Well, maybe not. First, once you consider the amount of time that was spent on this project, that money may not have been worth all of that lost time and effort, but there might have been other projects that could have been done for that $500,000 and they might have achieved a much higher ROI. There was an opportunity cost to doing this project over those others and it hurts more than the wasted time, energy, political capital, and other banging the head against the wall activities that happened with this project. The IMPACT PMO Leader has the mindset of an investor. They understand that change in a project is okay, and what matters most is that are you driving that high ROI outcome for the projects. You get to IMPACT.