Knowing When to STOP a Project
Based upon feedback from thousands of project postmortem participants, the number one project management skill most requested by project teams is knowing when to STOP a project! When project parameters shift, effective project leaders and project teams STOP the project and regroup!
Why It is Hard to Stop a Project After It Has Started
For a myriad of reasons, leaders typically do not like to stop a project after it has been kicked off. Not wanting to waste previous investments and efforts, most leaders admit to believing that almost any obstacle can be overcome if the project team just works hard enough – regardless of the circumstances, risks, or comparative value of the project.
But smart leaders know that under performing projects should be proactively looked at with more scrutiny.
The Balance of Speed and Reflection
Managing a complex and highly visible project can feel like walking a tightrope without being able to slow down. Internal and external pressures to deliver faster, better, and cheaper results can push the best project teams to make unnecessary mistakes and to prolong an under performing project.
Use the Iron Triangle
You need to keep on track while trying to juggle the three parameters of the project management iron triangle
Various stakeholders often have competing needs. When you conduct your project postmortem, be sure you don’t have to list “we never strategically adjusted” as your big mistake. This could spell a big “zero” for your project and threaten your career.
Knowing When to STOP a Project
Here is how to adjust when ANY project budget, scope, resources, or timing parameters shift: STOP! It is actually that simple. The difficult part is knowing when and how to STOP a project in a way that makes sense for your culture and strategy.
The Best Project Teams Ruthlessly Manage Expectations
The best project teams:
The Bottom Line
Stopping a project often means figuring out acceptable trade-offs or making major concessions with powerful stakeholders. That is OK. The key is getting and keeping everyone on the same page with the new plan instead of just working harder or faster without properly regrouping with the team or project sponsors.
Remember, hope and avoidance are not strong project leadership strategies.
If you liked learning about the importance of STOPPING a project, download 5 Steps to Align Project Teams to Pull in the Same Direction
Download key published insights and tools from industry experts highlighting best practices in the areas of talent, strategy and culture.
Want to know how you stack up against leading organizations? Receive a complimentary benchmarking analysis courtesy of an LSA Expert.
Get up to speed on timely solutions critical to your business. Published by LSA Experts based upon client feedback and key industry trends.
First we identify the key metrics you want to improve. Then we assemble a dedicated team of elite experts who have successfully solved similar problems with similar clients.
Stay up to do date with the latest information on how we help high growth companies align their culture and talent with strategy.
Real world consulting and training approaches from LSA projects, providing insights on how your company can outperform the competition.