Every once in a while, a “great” project comes along. The last one I have memories of was the rebuilding of the Pentagon after the 9/11 terrorist attacks. Jay and I wrote about “Project Phoenix” in Ch.3, describing how the estimated 3-year, $3/4 billion project was completed in 11 months for only $501 million with handshake contracts, creativity, teamwork, and ingenuity.
So when the MIT Sloan Management Review article (March 23,2011), “What Great Projects Have in Common” just came out, it caught my eye as a good teaching tool. Authors Dov Dvir and Aaron Shenhar use the creation of the IBM AS/400 computer and the Apple iPod as their examples of “great projects”, and then ask: “Why are such projects so rare”?
Their answer after analyzing 400 projects: 7 managerial characteristics were held in common.
Here they are: (1)They all created a unique competitive advantage or exceptional value for stakeholders. (2) They had lengthy periods where the project was defined. (3) There was a revolutionary (and different)project culture. (4) The project leader was highly qualified and had support of top management. (5) The project maximized use of existing knowledge, often with the cooperation of outside organizations. (6) The projects had integrated development teams with fast problem-solving capability. (7) The teams had a strong sense of partnership and pride…which was indeed the case when the Pentagon was being rebuilt.
This 3-page article is short enough to ask your students read it when you cover Chapter 3 and it complements our coverage of this important topic.
To see other articles in MIT Sloan Management Review go to sloanreview.mit.edu.
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