With nearly 30 years in IT, I've come across pretty much every situation, whether it was managing commercial software product development, acquisitions and divestitures, systems conversions, you name it. And over that time, certain things jump out as tried-and-true principles.
One of them I call the triple constraint override. That is, irregardless of the usual triple constraint of time, cost, and scope (I won't get into the other four possible constraints), I have my own principle that overrides all that.
It involves two simple equations:
Speed is more important than cost.
Success is more important than speed.
In other words, if we act fast, cost will usually follow naturally. Delays can increase cost exponentially, whether it's the cost of lost opportunity, the cost of reduced momentum, or any other number of costs associated with the risks of delay. Sometimes, it might appear that we're spending more money by rushing (such as paying a little more for a service rather than waiting to get the best deal), but in the end, what is really saved by waiting? I argue that there are hidden costs in waiting that can negate any gains.
But even speed must take a back seat to success. Notice I didn't say quality. That's because it's not about perfection. It's about the success of the project, whatever you take that to mean. If speeding things up risks the success of the project to the point where there's a 50% chance or less of success, then the speed has turned into haste and it's a sign to slow down and develop a more realistic plan.
Like any rule or principle, there are exceptions, especially during some negotiation situations. but we must consciously make that decision after weighing the situation against the two simple equations I've mentioned.
Just something I thought I'd pass along.
Labels: constraint, principles, project-cost, project-plan, risk-management
