PMcrunch

Tough challenges demand detailed analysis and effective decision-making. However, almost always it takes time to turn around a bad situation. While we all know that it will take time for the worldwide economic turmoil to iron itself out, recent stock market surges demonstrate and the reaction of investors to those surges illustrate how mindsets can be changed almost overnight. Let’s take a long at how this idea can be applied to project management.

Over the past few weeks, announcements of plans have taken place. One major announcement in particular was Tim Geithner’s plan for cleaning up troubled financial assets. The announcement of this plan brought immediate surges to stock markets around the world.

On any troubled project, a similar technique can be used. Here are a few ways:

1. When new to a troubled project, make it clear that change will come. There is no need at the beginning stage to announce a plan. It is enough to say that a plan is planned that can provide significant optimism for all involved.

2. Study the situation and get deeply involve with all participants to get the real story and the real picture.

3. Develop a clear plan and involve key parties in developing that plan.

4. Announce the plan.

5. Implement the plan. In a way this sounds simple, but I think the elegance is in its simplicity. These steps acknowledge the fact that people need direction and if they don’t have it they at least want to know that they’re going to get it. It also acknowledges the fact that things turn around twice. Once in our minds and in our plans, and finally in reality. We need to take care of the first before the second happens.

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John Reiling, PMP
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