case study starting a business project schedules and curves

• How To Start A Business

Case Study Starting A Business Project Schedules And Curves

Introduction

This case study focuses on the importance of project schedules and curves when starting a business. It will discuss the different types of project schedules and curves, their advantages and disadvantages, and how they can be used to help manage a business. It will also provide examples of how these tools can be used in practice. Finally, it will provide some tips for creating effective project schedules and curves. By understanding the importance of project schedules and curves, businesses can better plan and manage their projects, leading to greater success.

How to Use Case Studies to Create a Successful Business Project Schedule

Creating a successful business project schedule requires careful planning and consideration of all the elements involved. Case studies can be an invaluable tool in this process, as they provide insight into how similar projects have been managed in the past. By studying the successes and failures of others, you can gain valuable knowledge that can help you create a more effective project schedule. Here are some tips for using case studies to create a successful business project schedule:

1. Identify the key elements of the project. Before you begin researching case studies, it is important to identify the key elements of your project. This will help you focus your research and ensure that you are looking at relevant case studies. Consider the scope of the project, the timeline, the resources needed, and any other factors that may affect the success of the project.

2. Research relevant case studies. Once you have identified the key elements of your project, you can begin researching case studies that are relevant to your project. Look for case studies that involve similar projects, timelines, and resources. Make sure to read through the entire case study to get a full understanding of the project and its outcomes.

3. Analyze the results. After reading through the case studies, analyze the results to determine what worked and what didn’t. Pay close attention to the timeline and resources used, as well as any other factors that may have contributed to the success or failure of the project.

4. Create a plan. Using the information gathered from the case studies, create a plan for your own project. Consider the timeline, resources, and any other factors that may affect the success of the project. Make sure to include contingencies in case something goes wrong.

5. Monitor progress. As the project progresses, monitor the progress to make sure it is on track. If any issues arise, adjust the plan accordingly.

By following these steps, you can use case studies to create a successful business project schedule. With careful planning and consideration of all the elements involved, you can ensure that your project runs smoothly and achieves its desired outcome.

Analyzing the Benefits of Using Case Studies in Business Project Planning

Case studies are an invaluable tool for business project planning. They provide a comprehensive overview of the successes and failures of past projects, allowing businesses to learn from the experiences of others and apply those lessons to their own projects. By leveraging case studies, businesses can gain insight into the best practices for successful project management, identify potential pitfalls, and develop strategies to ensure the success of their own projects.

Case studies offer a number of benefits to businesses in the project planning process. First, they provide a detailed analysis of the project’s objectives, scope, timeline, budget, and other key elements. This allows businesses to better understand the complexities of the project and plan accordingly. Second, case studies provide a comprehensive view of the project’s progress, including any challenges that were encountered along the way. This helps businesses anticipate potential issues and develop strategies to address them. Third, case studies provide valuable insights into the effectiveness of different project management techniques, allowing businesses to select the most appropriate approach for their own projects. Finally, case studies can be used to compare the performance of different projects, helping businesses identify areas for improvement and develop more effective project plans.

In conclusion, case studies are an invaluable resource for businesses in the project planning process. By leveraging case studies, businesses can gain a comprehensive understanding of the project’s objectives, scope, timeline, budget, and other key elements. Additionally, case studies provide valuable insights into the effectiveness of different project management techniques, allowing businesses to select the most appropriate approach for their own projects. Finally, case studies can be used to compare the performance of different projects, helping businesses identify areas for improvement and develop more effective project plans.

Exploring the Impact of Case Studies on Business Project Curves

Case studies are an invaluable tool for businesses looking to improve their project curves. By providing a comprehensive overview of a particular situation, case studies can help organizations identify areas of improvement and develop strategies to optimize their processes. This article will explore the impact of case studies on business project curves, highlighting the potential benefits and drawbacks of using this approach.

Case studies provide a detailed analysis of a particular situation, allowing businesses to gain insight into how certain decisions or actions may have impacted the outcome. By examining the successes and failures of past projects, organizations can learn from their mistakes and develop strategies to avoid similar issues in the future. Additionally, case studies can provide valuable information about the effectiveness of different approaches, helping businesses determine which methods are most likely to yield positive results.

The use of case studies can also help businesses identify areas of improvement in their project curves. By analyzing the data from past projects, organizations can pinpoint areas where they need to focus their efforts in order to maximize efficiency and minimize costs. Additionally, case studies can provide valuable insights into how different teams and departments interact with one another, allowing businesses to make adjustments to ensure that everyone is working together towards a common goal.

However, there are some potential drawbacks to using case studies as a means of improving project curves. For example, case studies may not always be representative of the current situation, as the data may be outdated or incomplete. Additionally, case studies may not provide enough detail to accurately assess the effectiveness of certain strategies, making it difficult to draw meaningful conclusions.

Overall, case studies can be a powerful tool for businesses looking to improve their project curves. By providing a comprehensive overview of a particular situation, case studies can help organizations identify areas of improvement and develop strategies to optimize their processes. However, it is important to consider the potential drawbacks of using this approach, as case studies may not always be representative of the current situation or provide enough detail to accurately assess the effectiveness of certain strategies.

Examining the Role of Case Studies in Business Project Management

Case studies are an invaluable tool in business project management, providing a comprehensive overview of the successes and challenges encountered during a particular project. By examining the details of a specific case, project managers can gain insight into the best practices for managing similar projects in the future.

Case studies provide a detailed analysis of the project from start to finish, including the objectives, strategies, and results. This allows project managers to identify areas of improvement and develop strategies to avoid potential pitfalls. Additionally, case studies can be used to evaluate the effectiveness of different approaches to project management. By comparing the outcomes of different projects, project managers can determine which methods are most effective for achieving desired results.

Case studies also provide a platform for sharing knowledge and experiences between project managers. By studying the successes and failures of other projects, project managers can learn from the mistakes of others and apply those lessons to their own projects. This helps to ensure that projects are managed more efficiently and effectively.

Finally, case studies can be used to demonstrate the value of project management to stakeholders. By presenting the results of successful projects, project managers can show how their efforts have contributed to the success of the organization. This can help to secure additional resources and support for future projects.

In conclusion, case studies play an important role in business project management. They provide a comprehensive overview of the successes and challenges encountered during a particular project, allowing project managers to identify areas of improvement and develop strategies to avoid potential pitfalls. Additionally, case studies can be used to evaluate the effectiveness of different approaches to project management and share knowledge and experiences between project managers. Finally, they can be used to demonstrate the value of project management to stakeholders.

Understanding the Advantages of Utilizing Case Studies in Business Projects

Case studies are an invaluable tool for businesses, providing a comprehensive look at how a particular project or initiative was implemented and the results it achieved. By utilizing case studies in business projects, organizations can gain valuable insights into their own operations and strategies, as well as those of their competitors. This knowledge can be used to inform future decisions and improve overall performance.

The primary advantage of using case studies in business projects is that they provide a detailed overview of a particular situation. Case studies allow businesses to analyze the successes and failures of a project from multiple angles, including the resources used, the strategies employed, and the outcomes achieved. This information can then be used to identify areas of improvement and develop more effective strategies for future initiatives.

Case studies also offer a unique opportunity to compare different approaches to similar problems. By examining the results of different strategies, businesses can determine which methods are most effective and which should be avoided. This can help them make better decisions when faced with similar challenges in the future.

Finally, case studies can be used to demonstrate the value of a particular project or strategy to stakeholders. By presenting the results of a successful project, businesses can show potential investors and partners the potential returns they could expect from investing in similar initiatives. This can be a powerful tool for convincing others to invest in a company’s projects.

In conclusion, case studies offer numerous advantages to businesses looking to improve their performance. By providing a comprehensive overview of a particular project or strategy, case studies can help businesses identify areas of improvement and develop more effective strategies for future initiatives. Additionally, they can be used to compare different approaches to similar problems and demonstrate the value of a particular project or strategy to stakeholders.

Crafting an Effective Business Project Plan with Case Studies

A business project plan is a document that outlines the scope, objectives, and timeline of a project. It serves as a roadmap for the project team to follow in order to achieve the desired results. A well-crafted business project plan can help ensure that the project is completed on time and within budget. In this article, we will discuss the key elements of an effective business project plan and provide case studies to illustrate how these elements can be applied in practice.

Key Elements of an Effective Business Project Plan

1. Clear Objectives: The first step in creating an effective business project plan is to define clear objectives. This should include a detailed description of the project’s purpose, goals, and expected outcomes.

2. Detailed Scope: The next step is to create a detailed scope of the project. This should include a list of tasks to be completed, resources needed, and any potential risks or challenges.

3. Timeline: Once the objectives and scope have been established, it is important to create a timeline for the project. This should include milestones and deadlines for each task.

4. Budget: A budget should also be created to ensure that the project stays within its allocated funds. This should include estimated costs for materials, labor, and other expenses.

5. Communication Plan: Finally, a communication plan should be developed to ensure that all stakeholders are kept informed throughout the project. This should include methods for regular updates and progress reports.

Case Studies

1. ABC Corporation: ABC Corporation was tasked with developing a new software product. To ensure the success of the project, they created a detailed business project plan that included clear objectives, a detailed scope, a timeline, a budget, and a communication plan. By following their plan, they were able to complete the project on time and within budget.

2. XYZ Company: XYZ Company was tasked with launching a new marketing campaign. To ensure the success of the project, they created a detailed business project plan that included clear objectives, a detailed scope, a timeline, a budget, and a communication plan. By following their plan, they were able to launch the campaign on time and within budget.

Creating an effective business project plan is essential for ensuring the success of any project. It should include clear objectives, a detailed scope, a timeline, a budget, and a communication plan. By following these steps and using the case studies provided, you can create a successful business project plan that will help ensure the success of your project.

Leveraging Case Studies to Improve Business Project Schedules

Business projects often require careful planning and scheduling to ensure successful completion. To help streamline the process, leveraging case studies can be an effective way to improve project schedules. By studying the successes and failures of similar projects, organizations can gain valuable insights into how to best plan and execute their own initiatives.

Case studies provide a comprehensive overview of the project from start to finish, including details on the timeline, budget, resources, and outcomes. This information can be used to identify areas of improvement and develop strategies for avoiding common pitfalls. For example, if a previous project was delayed due to inadequate staffing, organizations can use this insight to ensure they have the right personnel in place before beginning their own project.

In addition to providing useful data, case studies can also serve as a source of motivation. By seeing the success of other projects, teams can be inspired to strive for similar results. This can help keep them focused and motivated throughout the duration of the project.

Finally, case studies can be used to create realistic expectations. By understanding the challenges faced by other organizations, teams can set more achievable goals and better manage their time and resources.

Overall, leveraging case studies is an effective way to improve business project schedules. By studying the successes and failures of similar projects, organizations can gain valuable insights into how to best plan and execute their own initiatives. This can help them avoid common pitfalls, stay motivated, and set realistic expectations.

The Benefits of Incorporating Case Studies into Business Project Curves

Case studies are an invaluable tool for businesses looking to improve their project curves. By incorporating case studies into the project curve, businesses can gain a better understanding of how their projects are progressing and identify areas that need improvement. Here are some of the benefits of incorporating case studies into business project curves:

1. Improved Decision Making: Case studies provide businesses with detailed information about the progress of their projects, allowing them to make more informed decisions. This helps businesses to identify potential problems before they become major issues, saving time and money in the long run.

2. Increased Efficiency: By studying the successes and failures of similar projects, businesses can learn from the mistakes of others and apply those lessons to their own projects. This helps to ensure that projects are completed on time and within budget.

3. Enhanced Learning Opportunities: Case studies provide an opportunity for businesses to learn from the experiences of other organizations. This allows businesses to develop new strategies and approaches to their projects, which can lead to improved results.

4. Improved Communication: Case studies help to bridge the gap between different departments and teams, as they provide a common language for discussing project progress. This helps to ensure that everyone is on the same page and working towards the same goals.

Incorporating case studies into business project curves can be a powerful tool for improving project performance. By taking advantage of the benefits outlined above, businesses can ensure that their projects are successful and that their project curves are optimized for maximum efficiency.

How to Use Case Studies to Optimize Business Project Timelines

Businesses can use case studies to optimize project timelines by leveraging the experiences of others. Case studies provide a valuable resource for understanding how similar projects have been completed in the past, and what strategies were used to achieve success. By studying the successes and failures of other projects, businesses can identify best practices that can be applied to their own projects.

When using case studies to optimize project timelines, it is important to consider the scope of the project, the timeline, and the resources available. Businesses should look for case studies that are similar in size and scope to their own project, as well as those that have achieved success within a similar timeframe. This will help to ensure that the strategies used in the case study are applicable to the business’s own project.

Once a suitable case study has been identified, businesses should analyze the strategies used to complete the project. This includes examining the project management techniques, the tools and technologies used, and the team structure. By understanding the strategies used in the case study, businesses can identify which elements could be applied to their own project.

Businesses should also consider the lessons learned from the case study. This includes identifying any areas where the project could have been improved, or any mistakes that were made. By learning from the mistakes of others, businesses can avoid making the same errors on their own project.

Finally, businesses should use the case study to create a plan for their own project. This should include an outline of the tasks that need to be completed, the timeline for each task, and the resources required. By creating a detailed plan, businesses can ensure that their project is completed on time and within budget.

By leveraging the experiences of others, businesses can use case studies to optimize project timelines and ensure successful completion of their projects.

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BUS605: Strategic Project Management

Project Schedule Planning

The bulk of the work in the planning phase revolves around the project scope, schedule, and budget. As you read through this chapter, pay special attention to how the work of the project is defined, how project resources are identified, how deliverables are decomposed into tasks that are logically sequenced, and how the work breakdown structure helps a project manager stay on top of the work of the project.

A Case Study

Susan and Steve have decided to tie the knot, but they don't have much time to plan their wedding. They want the big day to be unforgettable. They want to invite many people and provide a great time. They've always dreamed of a June wedding, but it's already January. Just thinking about all of the details involved is overwhelming. Susan has been dreaming of the big day since she was 12, but it seems that there's so little time for all the tasks to be completed. When they were choosing the paper for the invitations, the couple realized that they needed help.

Much work has to be done before June. First, Sally figures out what work needs to be done. She starts to put together a to-do list:

• Invitations
• Wedding cake
• Dinner menu

Since many different people are involved in the making of the wedding, it takes much planning to coordinate all the work in the right order by the right people at the right time. Initially, Sally was worried that she didn't have enough time to make sure that everything would be done properly. However, she knew that she had some powerful time management tools on her side when she took the job, and these tools would help her to synchronize all the required tasks.

To get started, Sally arranged all the activities in a work breakdown structure. The next exercise presents part of the WBS Sally made for the wedding.

• ABOUT ELORUS

How to Write a Strong Business Case in Project Management

Ready to make your projects a hit every time? Whether you're in a traditional office or a fast-paced agile setting, knowing how to build a solid business case is your key to success. But what is a business case, really? How much does it really impact your project management, and what can go wrong if it's not well-crafted? Let’s take a closer look at the core concept of a business case and how project managers can write them effectively.

What is a business case in project management? 

A business case is a document that outlines the reasons for a project, the expected benefits, and the risks involved. You should use a business case to convince decision-makers to approve the project and to provide guidance for the project team, all while enhancing stakeholder communication by clearly defining roles, responsibilities, expectations, and projected outcomes.

Many brands deploy project business cases to ensure that target objectives align with an agency’s business strategy. A business case can help you justify a project’s existence, and including these critical elements can also help ensure that an initiative will be strategically valuable.

What are the elements of a strong business case? 

A well-written business case should include key sections, such as an executive summary, a risk analysis, and an implementation timeline. Let’s look at how each component can impact business case development .

The executive summary should provide a brief overview of the project, including the problem it addresses, the solution proposed, and the benefits you expect. Your project description will outline any existing problems that require attention, including their causes, results, and consequences, alongside the overall project scope and objectives. 

A well-executed cost-benefit analysis can help you weigh projected expenses and the required work time of your team against potential returns. This analysis is a simple framework that you can apply to any number of projects to determine how financially viable they are. In addition, conduct a risk assessment beforehand to present this information alongside your cost-benefit analysis so you can develop a well-rounded view of the project for all involved parties.

Next, you’ll want to consider the project's key stakeholders . Who’s investing, who stands to benefit, and who needs to be involved in decision-making? The stakeholders section should list the people who must approve the project before it can proceed. Finally, you’ll have your implementation timeline that concludes your project business case. The timeline should provide a realistic view of expected project turnaround times and be thorough enough to include regular check-ins, milestones, and reviews.

Common business case development mistakes project managers should avoid

Of course, much of your success in building a business case depends on doing it correctly. With any business initiative, there’s a bit of a learning curve. Luckily, plenty of project managers have made common mistakes you can learn from. For starters, what happens when your business case doesn’t align with your strategic goals ? You could end up investing in a failed project, allocating resources to an ineffective process, or harming your brand image by promoting initiatives that seem out of touch with your strategy.

Beyond that, it’s all too easy to let a project business case become more burdensome and complicated than it needs to be. Be as concise as possible without omitting critical information. This includes any information that could benefit stakeholder communication and keep key members in the know.

Also, underestimating costs and poor risk assessment can both back you into a corner financially and creatively. Tighten up your cost-benefit analysis and use risk assessment to learn from past industry mistakes and your own brand’s missteps. Factor your brand’s current limitations into risk assessment to take a more holistic view of your business’s mitigation strategy.

Lastly, one of the biggest mistakes we see when developing a business case is a lack of flexibility . This includes applying a one-size-fits-all approach to different projects or failing to customize your business case for new initiatives. Be willing to listen to your data and respond to what it tells you.

What’s the role of the business case in agile project management?

Agile workflows are about adaptability and responding to data, market trends, or project needs. At a glance, this might seem different from a tightly structured business case in project management. However, applying a business case as an overarching vision and guidance tool can significantly benefit an agile environment.

On top of that, your business case development can identify the justification for project investment while simultaneously providing guidelines for task prioritization. Since Agile environments emphasize prioritization, collaboration, and communication, what better way to enhance all three than with a well-constructed business case?

Plus, since business cases should include rigorous risk assessment data, you can regularly revisit your strategy and adapt processes to mitigate emerging risks. Your business case can be a robust framework for any upcoming agile initiatives or agile-based project management when effectively issued.

Elorus can help you develop a more effective business case for project management

A business case is an essential tool for any project manager. It helps ensure that projects are well-planned and have a clear purpose with measurable benefits. Especially in service-based industries that thrive on new projects, processes, and initiatives, understanding how to deploy a business case can often mean the difference between brand growth and stagnation . For many businesses, understanding how to build a business case starts with the right tools and software platforms, like Elorus.

Elorus offers helpful business software so you can manage your projects more effectively. Our tools include cost monitoring and financial reporting features to make business case development a breeze. Get actionable insights into your project expenses, develop business cases that set your teams up for success, and use data-rich tools that help you grow your brand when you work with Elorus.

Grow your Business with Elorus

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Why Project-Based Work Fails — and How to Get It Right

If your team is prioritizing project-based work, this episode is for you.

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Companies of every size across the world are basing more of their work around projects than at any time in the past. But research shows that nearly two-thirds of those efforts fail.

Antonio Nieto-Rodriguez , who has studied projects and project management for decades, argues that at least some of the blame for these failures lies with executives who misunderstand the fundamentals of projects and fail to dedicate enough of their time to those they sponsor.

In this episode, Nieto-Rodriguez explains how to get better outcomes from project-based work. He also discusses how to frame projects, structure organizations around them, and avoid common pitfalls.

Key episode topics include: strategy, project management, operations strategy, organizational change.

HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week.

• Listen to the full HBR IdeaCast episode: The Future of Work Is Projects—So You’ve Got to Get Them Right (2021)
• Find more episodes of HBR IdeaCast
• Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org

HANNAH BATES: Welcome to HBR On Strategy, case studies and conversations with the world’s top business and management experts, hand-selected to help you unlock new ways of doing business.

Companies of every size, in every industry across the world are basing more of their work around projects than any time in the past. But research shows that nearly two-thirds of those efforts fail.

Antonio Nieto-Rodriguez, who has studied projects and project management for decades, argues that at least some of the blame for these failures lies with executives – who misunderstand the fundamentals of projects and fail to dedicate enough of their time to the projects they sponsor.

In this episode, you’ll learn how to get better outcomes from project-based work. You’ll also learn how to frame projects, structure organizations around them, and avoid key pitfalls.

If your team is taking on project-based work or if you’re leading a new project, this episode is for you. It originally aired on HBR IdeaCast in November 2021. Here it is.

ALISON BEARD: Welcome to the HBR IdeaCast from Harvard Business Review. I’m Alison Beard. If the 20th century was all about operational efficiency in businesses, the 21st century is all about organizational change. And how do new initiatives, products and services, strategies or business models advance? Through project work. It’s what our guest today calls the project economy, and it’s estimated to generate $20 trillion in economic activity and employ 88 million people in project management related roles by 2027.

That’s across every industry and size of company in every part of the world, and yet research indicates that only 35% of projects are successful. At this increasingly critical business function, most of us are doing a pretty terrible job, so how do we get better at it going forward? Antonio Nieto-Rodriguez is the former chairman of the Project Management Institute, founder of Projects & Co. and the author of the HBR Project Management Handbook. He’s here to talk about emerging best practices for companies and the people in them. Antonio, welcome.

ANTONIO NIETO-RODRIGUEZ: Thank you, Alison. It’s a pleasure to be here.

ALISON BEARD: Project management seems like a clear idea, but how do you define it and think about it in a way that might be different than what people assume?

ANTONIO NIETO-RODRIGUEZ: Well, I think one of the challenges with project management that I face personally in my career is that as soon as you talk project management, senior executives and people who are not experts in project management, they think, “Oh, this is something very technical, very tactical. It’s nothing for me,” so I’ve been facing that kind of discontent or disinterest in project management for 25 years. So, for me, I want to move out from that project management term and move it up into projects, and we all do projects. And for me, the definition is anything that has to deal with change, that’s projects. You can manage them through project management, Agile methods, design thinking, product management. But I want to really, I think we need to elevate and say, “Well, all what goes around change, that’s projects,” and we need to manage them.

ALISON BEARD: And how has project work changed over the past few decades?

ANTONIO NIETO-RODRIGUEZ: Well, project work has changed in two big areas. One is on a macro level. I’ve been doing research, and of course we all talk about the Marshall Plan after the Second War and all the projects that came from U.S. funding to develop Europe, reconstruct Europe, that was about $13 billion. Then we talk about the financial crisis in 2008 and ’09, we were talking about $3 trillion of projects. And now after the pandemic, we’re talking about $15, $20 trillion of projects. I think the world will never see as many projects as what we’re going to see in the next decade. We need to reconstruct countries, healthcare systems, economies, so that’s from a macro perspective.

From a micro perspective, from the way work is organized in companies, in businesses, it has evolved significantly in the sense that so far, operations have been prime in most of the organizations over the past 80 years. That’s what I say, the world driven by efficiency, where most of the activities were around doing things cheaper, faster, more automated, more volumes. Companies have been organized for that. That’s why you have hierarchies, that’s where cultures like command and control have been in place and so on, but since a few years when artificial intelligence and robots are taking over a big chunk of operations, the type of work is shifted to project based. So, I think the biggest, biggest disruption that happens in the world of projects is what we’re experiencing now. A radical shift from operations to project based work.

ALISON BEARD: And that’s because projects are about sort of discovering the new innovating, and the pace of change is such in every industry now that every company needs to learn how to do this well?

ANTONIO NIETO-RODRIGUEZ: Absolutely, and one of the challenges I have to admit, Alison, I’m a big of course, expert in project, a big advocate of project management, but our performance, like you mentioned in introduction, has been poor or appalling. I think project management has not delivered the expected results. We need to find better ways to addressing the change. The future 10 years ago maybe was five years from now, right? So, you would have a project that would last for three years expecting to get some benefits maybe in three, four years, a digital transformation, a new M&A activity, a new business unit, but today, the future is so fast.

So, your future is tomorrow, right? So, that means the acceleration of project based work has to go faster. Let me give you a quick example. Here in Brussels, they were setting, establishing a hospital from scratch, Greenfield, start of the construction in 2016, completion of the hospital in 2020. So, four years of construction, state of the art, but to my surprise, the hospital was open in 2018 before it was co completed. So, I think there’s no company in the world can wait four years to get any benefits from the projects. The future is now, and we need to address that. That’s why you see exploding the number of projects in organizations. I come across companies where they have more projects than people.

ALISON BEARD: And I do want to get to how to do it better, but first, that failure rate is so high. What are some of the most common challenges or problems that projects run into? Why are we getting it so wrong right now?

ANTONIO NIETO-RODRIGUEZ: Let me highlight just three. First, I think senior leaders, they don’t have the competencies to be effective sponsorship. Over the years …

ALISON BEARD: They’re not going to like hearing that.

ANTONIO NIETO-RODRIGUEZ: I’m sure. I’m sure, but I’m sorry. I always am hundred percent honest on both on my thinking, but I think sponsors have not realized the role is crucial in sponsoring projects. It’s not about how many projects you sponsor, that has been the kind of, “I sponsor 20 projects. I’m the most important person in this company.” Well, now it’s about less is more, and it has been proven. When you are an executive, the CEO, the VP, and you dedicate time to your project, time means not just one hour per month, but a half a day per week. If this is the future of your business, I don’t understand why senior leaders don’t dedicate so much time. They’re all driven by operations and day to day urgency so very few leaders make the space. And second, they don’t understand the fundamentals of projects.

Most of the executives come from a path marketing, finance, operation strategy, and it requires for them to understand that projects are different. That you work in projects in a matrix, that is not so much the hierarchical approach, but this team working and collaboration. So, it’s hard to give you a number, Alison, but I would say 30% to and 40% of the success of the project is if the senior leaders is engaged and understands and drives the project. Alison, the second point, I realized that in the area of change in projects, we are always running with all methods. It happened in the past with IT projects, I started implementing big ERP systems, we were trying to apply some very traditional project management.

It didn’t work. Then Agile came and said, “Well, now we are going to use Agile for every project,” and that, we see today with digital transformations, AI implementations, that doesn’t work. The failure keeps there. The third reason, so I think the role of the project manager, the project management profession has not taken ownership of the results. It has been very focused on process, very focused on documentation. It did make a lot of sense in the sixties, in the fifties where you would do a lot of public sector projects where you want to document everything, but I think the reason that the third reason for me is that project management didn’t evolve to embrace the new reality. And second, project managers have been more a deliver type of role.

In project management, we always said, “Well, who’s accountable for delivering the projects? Who’s accountable for delivering the benefits?” Right? Well, it’s the sponsor. We project managers were responsible of delivering the project on time, on budget, on scope, and that has been the cradle for project management for the last 40 years. And we’ve missed to focus on the outcomes. We’ve missed to focus on the benefits. We’ve missed to take accountability of the results. It’s easy to make a project charter, but what companies are looking for is delivering value, either financial, either social, either sustainability. So, I’m asking my community of project managers to step up, to take ownership, to say, “No, it’s not just the plan. It’s not just delivery on time. What matters actually even more is delivering the benefits, whatever they are, and faster, please.”

ALISON BEARD: So, for an organization that does have existing operations that need to be managed, but then also wants to pursue change and innovation through project work, how does that company change its structure or culture to be able to do both well?

ANTONIO NIETO-RODRIGUEZ: Yeah. Well, great question, Alison. I’ve seen so many companies struggling because I’m not saying, “Let’s forget about what you’re doing right today. Let’s forget about that organization that you’ve built so successful for that world driven by efficiency with hierarchies, with yearly plans, with deep expertise, deep technical expertise,” but how can we address change? And change that’s going very fast and our products are just lasting less and less. In the past, we last five years, now five weeks or maybe five months. So, how can we mix that? And it’s a struggle. You cannot say, “Let’s forget my hierarchy and let’s move everything into flat teams and Agile structures and project basing.” That doesn’t work, so I think in the challenge for the leaders, the senior leaders, the executives, is finding that balance. And I always say you need to experiment.

You cannot just go and say, “Well, half of the organization is working without job descriptions. They’re all working project based.” I think my approach, my suggestion is, what are your top five projects? What are the five most important projects that your organization has to deliver? Extract those projects from your daily operations. Extract them. They should not be done by people working in operations. They should have a different structure. They should have a different culture. Put them aside, put them independent. They are own entities, and of course, strong sponsorship. Executives, you need to spend time on them. By extracting for those five top projects already, and moving out to that from that hierarchical structure, that operational activities, that you can see already, quite a lot of acceleration in the way you deliver projects.

ALISON BEARD: Often though, it seems as if particularly project leaders do have operational responsibilities as well, and then sort of, they’re expected to tack the project on top of that. So, how are companies that you work with navigating that balance? Are they giving the executives that time to take away for the project work?

ANTONIO NIETO-RODRIGUEZ: Great, great question. This is really the core. One of the core problems I always raise when I do workshops with senior leaders is, how come you cannot extract people from your day to day job and put them in a project? It’s one of the biggest challenges that I see. Even companies which have 10,000 people, they are not able to free up 50 people to carry out the project. The best projects I’ve seen in a research, one of them, of course the iPhone, the first one which I research very much in detail, at that time, they were able to take the day to day people, the senior leader, the best people of Apple at that time and extract them for two years and a half to develop.

And people who were in the operations side said, “Well, I love to join this project, but who’s going to do my day to day activities?” And we were saying, “Don’t bother. Anybody can do your day to day activity. You have a deputy when you’re gone,” said, “We’ll put those people. We’ll promote them. We’ll create more talent, but you, you are the best person in these companies. How come you’re not working in the most strategic project in the future of your work?” Right? It doesn’t make sense, but companies struggle so much and there’s nothing worse that you can do, Alison, than have half time people working in your projects. I work one hour per week, then I work two days per week, then it’s a mess. It’s not how you deliver great projects. At least try to get the best people around.

ALISON BEARD: I think that makes sense when you sort of have a clear idea of what the future’s going to look like, and you know exactly which five projects are the most important, but isn’t the issue in many cases that organizations sort of have 30 projects on the go, and aren’t really sure what’s going to pan out, and they can’t take all of those people away from their day to day activities? So, how do companies prioritize?

ANTONIO NIETO-RODRIGUEZ: I’m sure everybody that’s listening this, they can’t relate to that point. Companies have way too many projects. I think that if there’s a core skill for leaders in current times, is focused and prioritization. Knowing what is the big path, and unfortunately, it’s just very hard to see when you see more projects than employees. And like you’re saying, how can they do their day to day job plus three, four time projects? That’s where people get overwhelmed. I am sure that the big reset is linked to this, so many projects plus day to day activities. It’s just stressing everybody out, and I think that when you work with companies where the priorities are clear, where people know, these are our top three, their top five, and we know where we’re going, this is the focus, that’s where I think executives need to work on. On really making the tough decisions.

ALISON BEARD: What are some best practices for putting project teams together?

ANTONIO NIETO-RODRIGUEZ: Well, Alison, the formula for engagement is super simple. The most engaged people in a project, you know which one is it? Volunteers. Let me put you an example. Maybe in HBR, you are launching a new project. Why don’t you ask who wants to join?

ALISON BEARD: Makes sense. It’s so simple, but it makes so much sense.

ANTONIO NIETO-RODRIGUEZ: It’s so simple, because there’s different things that happen here. First, if nobody wants to volunteer in that project, that project is terrible. Don’t start it. Don’t start it because it’s just, people are going to be forced to do it, so ask for volunteers. Nobody shows up, don’t start it. You don’t need a business case of three months hiring consultants to make you, “Yes, this is …” If nobody jumps on it, terrible. Don’t even start it. It’s just a five minutes test and you save three months of work. Second, if the project talks about business case, very few people get excited, yeah? Who wants to work in a project that delivers 10% return on investment? Yes, nobody. Right? 15%, nobody. Who wants to work in a project which is going to make a more sustainable world? Who’s going to work in a project who’s going to increase the customer experience and make customers more happy, and deliver better value to a customer?

Who wants to work in a project who’s going to create our employees or make our employees more happy, and make us a top company? Lots of people. So, we have been, when we were talking about some of the issues, I think project manage has been focused on talking about things that don’t matter to most of the stakeholders, like a business case. Business case is super important. It’s the return investment, for sure, but that’s not what engages people. The purpose engages people. When you have volunteers, they will dream about your projects. They will do whatever they can to make it happen, and it can be because of the purpose, it can be because they like to work with you, they see a big opportunity to learn. Of course, as a project leader, you need to balance that. But as simple as that, Alison, “Who wants to volunteer?”

ALISON BEARD: How does the rise of project driven work relate to the gig economy? Is your sense that companies are hiring contractors and freelancers to get a lot of this done? Is it a balance or are they trying to handle most of it in-house?

ANTONIO NIETO-RODRIGUEZ: I think when we started to hear about the gig economy, I think yes, one of the reasons was, “Let’s hire external resources to work in our projects because we are so rigid internally, like I cannot free, from my 10,000 people, I cannot free 10 of them because they’re so busy in day to day operations plus other projects,” so it started like that. What I see now is that companies are finally taking the step of shifting resources to more project based work. Again, when I use the word project, I include Agile teams, self directed, so very flat project driven teams. So, that’s happening to the point that I talk about it is that companies are canceling job descriptions. We all had job descriptions like, Alison, most of the people listening, probably they had a job description, which tried to describe like, where do you fit in this box? Right? And just do those activities in this box, in that operational field.

That’s your box. If you do it right in two, three years, you just go up in the structure. But many large companies and small companies are realizing that people don’t work in boxes anymore, and job descriptions are not needed anymore. It’s a thing from that world driven by efficiency that together with the chief operating officer in this role, so I think they will not last very long. So, I think the project driven world is now being and embraced by organization where companies like Alibaba or other major players are really embracing this type of work where yeah, they’re looking for people who can have an idea, who can develop the idea, who can implement the project, and who can run the idea of the product or the business and generate value for the companies. This is what I call end-to-end players or strategy implementation professionals. We want this type of end-to-end players who can work transversely in organizations.

ALISON BEARD: Are there lessons from your project management world that might be helpful for people doing more traditional ongoing work?

ANTONIO NIETO-RODRIGUEZ: I think project managers have been a bit not very proud about their work. They’ve been seeing like, “Okay, you are not very modern. Agile teams are better, or innovation people,” so I think as a project manager, you need to believe on what you’re doing. Second, I think we need to take more ownership. I’ve been working 25 years in this space and managing large transformation M&A, and I always was waiting for the sponsor. I know the sponsor was very important for my projects, but I was kind of waiting and hoping that the sponsor will learn and follow training on how to do it or make some time for my projects. And I’ve learned the lesson is that the first thing I do in my projects is I go to the sponsor and talk frankly with the sponsor.

“Listen, are you ready to put time on this project? It’s very important. I need you, and I’m happy to coach you. I’m happy to tell you how projects work and what do we need to focus on, but I need your time, and I need a couple of hours per month. Let’s say an hour every two weeks. I need to talk to you. I need decisions from you.” So, I’m very much proactive because I know that role is very important and these people are really busy. One of the biggest lesson learned was being proactive with my project. The second maybe is I talk to many project managers and we are very technical to the point of sometimes difficult to understand, slash boring, right? Who wants to talk to a project manager? Come on. Do you have something more interesting? No, but that’s …

ALISON BEARD: You’re more interesting than I imagine, than my sort of vision of what the project manager is.

ANTONIO NIETO-RODRIGUEZ: You see? Because I don’t talk about project management, I don’t talk about Gantt charts, I don’t think that’s my kitchen. That’s what I do when I need to think about making a plan, but you are interested on the bigger picture. You are interested on how my ideas will contribute to our needs as an organization, so I do this exercise with project managers, “Tell your partner what you do without mentioning the words projects and project management,” and they say, “Oh, I’m struggling. What do I do?” And then they start talking about the value they bring, and that’s what people want to hear.

You covered this topic broadly in HBR, but talking, adapting, understanding the language of your stakeholders, using it. That’s how you get their engagement. That’s how you get their attention. That’s how they appreciate your value, and that’s the second big learning. When I did that, things changed for me. Senior leaders wanted to talk to me. When I forced them to prioritize in key projects, they were saying, “Antonio, we want another meeting with you,” was the CEO of the bank, because I force them. I force them to create value. I force them to have strategic dialogue, so I would say if you’re listening, you’re working in this space, move on into that space. Move on on the value creation, on your stakeholder, and things will change very fast.

ALISON BEARD: Well, Antonio, I learned a ton today. Thanks so much for coming on the show.

ANTONIO NIETO-RODRIGUEZ: A pleasure.

HANNAH BATES: That was project management expert Antonio Nieto-Rodriguez in conversation with Alison Beard on the HBR IdeaCast. He’s the author of the Harvard Business Review Project Management Handbook.

We’ll be back next Wednesday with another hand-picked conversation about business strategy from Harvard Business Review. If you found this episode helpful, share it with your friends and colleagues, and follow our show on Apple Podcasts, Spotify, or wherever you get your podcasts. While you’re there, be sure to leave us a review. And when you’re ready for more podcasts, articles, case studies, books, and videos with the world’s top business and management experts, find it all at HBR.org.

This episode was produced by Mary Dooe, Anne Saini, and me, Hannah Bates. Ian Fox is our editor. And special thanks to Rob Eckhardt, Adam Buchholz, Maureen Hoch, Nicole Smith, Erica Truxler, Ramsey Khabbaz, Anne Bartholomew, and you – our listener. See you next week.

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In this assignment, you will create a production possibilities schedule and curve to determine what your opportunity costs are and which product is the best for you to produce.Assignment: Determining Production Possibilities

You are getting ready to open The Shoe Hut, but you need to need to determine whether you have the absolute or comparative advantage in the production of specific items. This will help you determine which product is the best for specialization.

Your production possibilities are as follows:

• You have the resources to produce up to 15 running shoe inserts.

• You have the resources to produce up to 10 hiking boot inserts.

• For every 2 hiking boot inserts produced, you give up the production of 3 running shoe inserts.

Using the information that you learned about your ability to produce running shoe inserts and hiking boot inserts, complete your production possibilities schedule.

Use the information from your production possibilities schedule to create your production possibilities curve by filling in the following graph. Use textboxes to insert text, and use lines and circles from the shapes function to illustrate your production possibilities. Be sure to mark points A through F on the graph.

Based on the data within your schedule and curve, are you using your resources efficiently? Support your answer using the data presented.

Based on the information you used to create your schedule and curve, which product would you recommend the Shoe Hut focus on, and why? Provide details that support your answer

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