Given 33% of project fail (Oxford research), 1 in 6 cost 200%-400% than expected (HBR) and this pattern has continued for 20 years, even with the advent of Project Management, Change Management, Business Analysis and Portfolio Management, it is fair to say that there is a problem. When CPAs validated that over $333 billion is wasted each year in failed projects, it is fair to say there is an opportunity for improvement.
A large opportunity. One that contributes to productivity – as poor project performance is a burden on productivity growth, to cost control and revenue growth – as good project performance benefits both.
Fact: Traditional methods are not enough. Current failure rates tell us this.
Fact: Projects can and do succeed – and yours can too, if you understand, measure and apply the underlying patterns that lead to their success.
No silver bullets, no magic potion, no simple recipe.
If you would like a sense of the scale of this issue: Read about the NPP – Non Performing Project Ratio.
Science based, complex-systems inspired, human centric – technology methods that clear out the blockages and get results flowing. Ourl methods are based on core principles. For More background read A Note from JA.
The principles that form the Shelton Methods include
- Results Risk Management (RRM). If we want results, we manage the risks to results. Most projects manage the risks to delivery – not enough! There are 8 distinct sets of risks to results.
- Predicatable Accountable Results (PAR for golfers and acronyn lovers). Each organisation has a track record of project performance, much like a golfer has a track record of his or her golf game – it’s called PAR. PAR shows how you are likely to performance. If you don’t like the current track record of projects in your organisation (the track record shows the probability of a project succeeding or failing), then do something constructive. Buy the book and do your own Success Healthcheck assessment of your IT project.
- Raffy and Effy. For the non-financially or mathematically inclined (yes, there are formulas), Raffy is the real functional yield of your project investment (RFY – what you really got for your money) and Effy is the effective functional yield of your project investment (EFY – your probability adjust return).
- Portfolio Value Management (PVM). IT projects do not stand alone – they are part of a portfolio of projects which usually require both IT and the business to do things to create results (aka value). Portfolios have risk and return – this is the process for managing and improving both. There are 7 critical steps for effectively managing risk and value.
Some people remember numbers, many remember a good story or illustration. Our approach is rich in stories and visuals. They are more effective.
For the curious, expect to hear about golf, kitchens, men’s shaves, ice cream, Marco Polo and Kashgar, donkeys and rice farms. For example:
- Have you ever had a kitchen renovated? Or heard a friend complain about doing so?
- Is it worth paying extra for a good blade when shaving?
- Do you like vanilla ice cream? Or do you prefer flavors and bits?
- If you were going to travel the Silk Route would you go with Marco Polo? Or some untried or less established guide?
- Is the goal to buy a donkey? or having it used to improve productivity on a farm?
If you answered yes to any of these questions, then the Shelton Methods is for you. You see Success as more than ‘survival’. Contact us to accelerate your success.