Failure

Entrepreneurship, Failure, Investment Management, Philosophy, Product Management, Strategy, Teams, Uncategorized

The Boy and the Starfish


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When the tide is coming in..

You need a team or a consultancy that can focus on solving one problem at a time.

A man was walking along a deserted beach at sunset. As he walked he could see a young boy in the distance, as he drew nearer he noticed that the boy kept bending down, picking something up and throwing it into the water.
Time and again he kept hurling things into the ocean.

As the man approached even closer, he was able to see that the boy was picking up starfish that had been washed up on the beach and, one at a time he was throwing them back into the water.

The man asked the boy what he was doing, the boy replied,”I am throwing these washed up starfish back into the ocean, or else they will die through lack of oxygen. “But”, said the man, “You can’t possibly save them all, there are thousands on this beach, and this must be happening on hundreds of beaches along the coast. You can’t possibly make a difference.”
The boy looked down, frowning for a moment; then bent down to pick up another starfish, smiling as he threw it back into the sea. He replied,

“I made a huge difference to that one!”

Author Unknown

 

agile, Failure, Investment Management, Lean, Project Management, Project Office, Scrum, Strategy, Uncategorized

Why do only 2.5% of companies successfully deliver 100% of their projects?


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PricewaterhouseCoopers reviewed 10,640 projects worldwide and found that only 2.5% of the companies successfully completed 100% of their projects.

Is this because people are incompetent?   It’s a sad look out for man kind if so.  However, the reality is likely more complicated..

  1.  People can’t concentrate on more than one thing at a time http://bit.ly/1etgh4B so as organisations are made up of people, that applies collectively to organisations as well.
  2. The more time we have to do something the less we achieve.  Take Kickstarter projects as just one example http://kck.st/1VjLaSi  Kickstarter changed the maximum length of a campaign from 90 days to 60 days in 2011 after realising that campaigns that ran for the full 90 days were successful only 24% of the time much less successful than shorter campaigns (over 44%).
  3. As humans we naturally radically under or over estimate what we can achieve.  Unlike pigeons(!) we use contextual information which can lead to biased judgments of interval duration, thereby reducing the precision of these estimates.  http://bit.ly/1XDbbKU

This is why at Magic Milestones we work on 3 themes:

  1. Creating a stable focused team Agile Experts
  2. Focusing on ‘the next right thing’ Lean PMO
  3. Creating a delivery culture using Lean Start-Up and Agile techniques.  Using hard data as a basis for predictions and planning we baseline performance then improve an organisation through  Consultancy & Training

Read more about why we do what we do via Our Story