Can Project Management Support High Growth Companies?
“There is some thinking that equates project management with being a roadblock to speedy delivery of critical projects. This is reinforced by the number of processes and documentation that can be involved in a project. After all, when a company is trying to meet market needs or break into trends, the last thing it needs is a project manager/PMO saying, ‘We need to have all this documentation before we can start working on this.’
So how can project management be an effective tool versus a roadblock?
Do we throw everything out and just start executing on the work involved with minimal planning/processes involved? That is certainly one way to proceed. But remember the word ‘execution’ has several meanings. An execution of someone’s job could be one example of another meaning of the word. Needless to say, not the use of the word that everyone was hoping for.
For project management to be an asset in critical time to market projects, it needs to be flexible and very agile to borrow a term from our software development friends. Almost the opposite of the standardized way project management is supposed to work, careful and deliberate. Can this be accomplished? In a word: Yes.
The key is to compress and reduce the project management processes and requirements to an acceptable minimum level. This could actually be formalized so critical/fast paced projects have their own separate project track with minimal documentation/processes involved. Of course the risks would need to be evaluated to using this approach, as this type of ‘fast track’ procedure could expose the company to unacceptable risks. This way the business could decide if the timely completion would be worth the risks involved.”