Posts

/by

Planning for Successful Execution

,

Most organizations are juggling multiple projects at any given time. A critical element for successful project execution is having an understanding of how those projects affect one another in terms of resource requirements and timing. Without that understanding, resource bottlenecks will inadvertently be created.

For more successful project execution, be sure to consider the following during the planning phase:

  • Existing projects that are still in progress
  • Predictable resource reductions due to major software updates, seasonally busy times, heavy staff vacation times, etc.
  • IT’s capacity since IT is required for almost every project
  • Spreading projects out – trying to start all projects in January will put pressure on resources as will making all projects due in December

To understand whether resources are over-allocated, start with the big project milestones and assign resources and timeframes. Do this for each project. Viewing milestones for all projects in progress at any given time throughout the year, along with the resources required, will provide a high-level view of resource usage and will make resource over-allocation more visible. Further refinements to the milestones as they evolve into project plans will provide an even clearer picture.

After going through these exercises, teams typically find that project schedules need to be adjusted and some projects may even be postponed indefinitely. Changing the timing can be disappointing, but is far better than putting unnecessary stress on the organization later and/or failing to meet project timelines. Good project planning not only requires planning for individual projects, but also planning how all projects affect each other and available resources.

/by

Execution: A Strategic Plan’s Worst Enemy

,

 

Many credit unions are heading into their annual strategic planning process.  Successful strategic planning requires credit unions to answer tough questions.  For example: Is our business model relevant or does it need to be fine-tuned or completely overhauled?  Are members changing the way they use our delivery channels and, if so, what do we need to do to remain relevant to them?  What “no” and “stop doing” decisions can we make so that we have the resources to achieve our strategic objectives?

 

Many credit unions create amazing strategies to remain relevant by addressing these and other tough questions.  Unfortunately, they can’t answer “yes” to this last tough question: Do we have a history of solid execution of our initiatives and projects that support our strategies? Solid execution means that the initiatives and projects were completed within scope, on time and within budget.  If you quickly answer “no” to this question, then much of the time, energy and effort that goes into your strategic planning process may be wasted and your business model may take several steps closer toward irrelevancy.  That is a big, strategic problem.

 

How do you start to resolve that problem?  Many businesses and credit unions, large and small, use a proven five-phase process to successfully implement strategies and projects.  Below are links to two relevant and succinct articles describing this process that can be found at the c. notes page of our website: Project Management: Essential Project Planning and Project Management: Execution, Control and Closure.