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MANAGING PROJECTS - Coggle Diagram
MANAGING PROJECTS
Jargon Decoder
-IT project failure (Botched execution)
-Triple constraint (Cheap, fast and good)
-80/20 rule (80% Business meet, 20% project)
-Lean principles (Business involvement)
-Rollout strategy (How a completed project is rolled out to users)
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A dismal track record
-2/3 IT projects fail
-1/2 never deliver intended business benefits
-Larger projects are 5-10 times worse
-Afflicts small & large firms, non-profits, and governments worldwide
-Problems are often predictable and preventable
1) Reason of business penalties worsening:
-Larger project
-Touch more parts of firms
-Baked into more products & services
2) Most rigorous testing leaves 1/2 bugs undetected
-Malfunctioning products, stalled operations
3) How IT is developed failing to keep pace with its growing complexity
-Handcrafted, painstakingly
-Error prone (100-150 mistakes in every thousand lines of code)
Example of repeated mistakes:
-Massive scale
-Uncertainty
-Bickering stakeholders
-Railroads, the electric grids, highways
Previous projects
London Electrobus (1907)
-Battery operated
-300% over budget
-30/50 never completed
-Flunked cost, quality and schedule
Lessons:
-Simultaneously counting on too many unproven technologies'
-Clever technology does not guarantee success
-Doomed without complements
Hoover Dam (1930)
-Completed two years early and under budget
-Managers created master plan but gave engineers discretion over their work
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