Keys to Success for Growth
My clients across all manufacturing and distribution-related industries ranging from small, family-owned businesses to multi-billion dollar corporations have one item in common – growth.
More than 80% are experiencing relatively substantial growth while the remaining 20% are muddling along with slight growth figures. When companies grow, projects can become even more critical. Cash is needed to fund growth. Customer service must remain intact, even though it can be more challenging to succeed during periods of significant growth. Profitability needs to continue to grow to support the growth and to leverage assets. Keeping up with the people requirements can be a challenge. Thus, we need to be stronger in periods of growth to ensure success. I’ve found that the key to success is to get back to the core: 1) Start with people. 2) Develop a simple project timeline. 3) Follow-up is vital.
1. Start with people – The project leader is number one to whether your project will deliver the expected results. Your team is a close number two. Unfortunately, I often see project leaders and teams come up in the last position. In these cases, people are an after-thought. Often, the issue is that everyone has full-time jobs to do already. And, in times of growth, most top quality potential project leaders are already maxed out.
As a former VP of Operations, I fully understand this dilemma. Instead of assigning those who are available to what could be a project that could have far-reaching impacts that add up much faster than you’d ever think ($500,000 – $1,000,000 isn’t uncommon) and directly impact key customers, take a step back and think about the best person to lead the project. There are countless ways to handle the talent shortage, so don’t let these challenges dictate your decision. For example, you could reallocate work, bring in outside help, or provide tools to support the team. Don’t let this be an excuse for not staffing your critical project properly.
The project leader doesn’t have to be a full-time resource – it all depends on the project. And, do not get caught up in thinking that your project leader has to be a guru in creating complex project timelines, as it has little to do with success. Instead, ensure that your project leader has the leadership skills and experience to effectively lead the project team, collaborate with all related parties, and is organized and focused on the project outcomes/results. In my experience with multiple $1 million+ successful projects, this is will make or break success.
2. Develop a simple project timeline – There is no need for complex project timelines that require a complicated software program to develop and a Ph.D. to understand. Instead, develop an understandable timeline with major milestones and accountabilities. Keeping it simple works!
In working on countless projects over the years, I’ve found the critical aspects of the timeline to be the following: 1) clarifying the key dependent tasks; 2) the critical path milestones; 3) clear, agreed-upon ownership and accountabilities. It is amazing how many times I’ve seen the timeline fall apart either by focusing on non-critical path tasks to the detriment of the critical path tasks or due to a lack of clarity about the accountabilities. An easy yet effective rule of thumb is that a team cannot own a task. Instead, assign the task to one task owner. This owner can coordinate with as many participants as needed to get the task done; however, there should be one, ultimate owner who is accountable.
3. Follow-up is vital – Undoubtedly, my number one secret weapon to achieving success on-time, on-budget, and on-results on wide-ranging projects consistently is follow-up. This seemingly simple yet often overlooked action achieves amazing results. Does your project leader follow-up?
What are the keys to success with follow-up? And when should you follow-up? Follow-up with your project team on critical path milestones. Start by making sure they are clear and accountabilities are established. Then, follow-up on critical path tasks and milestones just prior to the start of the task. Do what makes sense. If resources are required, follow-up so that you have enough time to work through potential issues so that they can start on-time. Do not waste time on non-critical path tasks, as they will become a major distraction to the detriment of the critical path. Keep the team focused on the critical path. Remind critical path task owners when their deadlines are approaching. Ask if they have questions, concerns, roadblocks, etc. Don’t wait until the project falls behind. Instead, proactively follow-up to ensure the critical path stays on schedule.
Aggressively tackle any roadblocks in the way of achieving the critical path. Encourage, appreciate and thank the project task owners. Remind them how their task fits into the big picture and how the project’s outcomes are of value to the organization. Follow-up on critical finances. Don’t get lost in a debate over a few dollars. However, be extremely vigilant on the critical expenditures and those related to the critical path.
Every executive wants to continue to grow. Thus, they need projects to deliver results on-time and on-budget. Instead of getting bogged down in the latest, complex project planning software and process, continually follow these three key steps, and you’ll achieve significant project results – and grow your business.