And make better decisions about the projects selected
Too often I see leaders jump toward a decision without planning it out first. The decision may be anything – whether to move forward with a project, whether to hire another employee in the organization, discontinue a product, launch a new service, etc. I hear talk about whether there is enough value, if there is too much risk, will it be cost effective, drive revenue, is it the right thing to do, etc. But I don’t hear enough of, “Let’s plan it out first.”
Planning before jumping into a decision will get executives those answers for which they are searching. It also ensures that the right things are done at the right time. Questions that can be answered from upfront planning include:
- Do we have the resources internally or must we contract?
- What timeline do we need for completion?
- Can we support what we want to do with our current technology?
- Is it what our customers want?
When we take the time to plan out the initiative, we can make much better decisions on whether we should “go” or “not go.” We reduce second-guessing our decisions down the road because we are more confident they are the best decisions.
Planning should entail examining whether:
- There’s an alignment to an organizational long-term goal
- Resources exist to undertake the initiative (whether internal or external)
- The initiative benefits current or potential future clients
- There is budget money available
- The initiative can be completed in the required time
- The initiative will benefit employees
- It will reduce costs or drive increased revenue and profitability
- It will impact other initiatives if undertaken at this time
By validating each project recommended to be undertaken through development of an initial plan, you will increase your success in making the right choice and reduce risk overall within the organization – which saves the organization money.
