MAKING DECISIONS IN FAST PACED PROJECTS

INNOVATIONS AND INSIGHTS MAKING DECISIONS IN FAST PACED PROJECTS

In 2020, there is growing expectation that information is available instantaneously and status updates should be near real-time. With more tools at our disposal and this growing expectation for speed and agility, project managers are facing more pressure to make rapid decisions, even when the available information is based on incomplete data or a lot of assumptions. The pressure from senior stakeholders to “get it right” has placed decisionmaking skills squarely under the spotlight. We’ve all seen examples of a single poor decision that can have very high costs and may even be the difference between success and failure for your project and even, your career.

Decisions hinge on a culmination of subject matter knowledge, previous experience and access to information, data quality considerations and risk tolerance. It could be said that decision making is the ultimate juggling act of assessments that go beyond just gathering facts, but are also influenced by innately human characteristics that can change based on feelings or intuition. With so many variables to manage, it’s extremely challenging for decision makers to produce consistently good results, let alone do so under

LEVERAGE YOUR NETWORK

To gather important information quickly, highly successful managers leverage networks of trusted, highly skilled advisors within and external to the project. Having these relationships can be invaluable for making more informed decisions when broader consultation and analysis is not possible. Investing in collaborative, trust-based relationships with experienced team members as well as formal advisory groups are a must have in your decision-making tool-box.

LISTEN EARNESTLY

Actively listening to different perspectives, weighing alternatives fairly and resisting the urge to jump to impulsive conclusions are also proven techniques that improve the chances of reaching a good decision.

Speedy risk assessment is another valuable skill. Project professionals are trained to apply risk management principles in projects, but we also need to apply these risk principles to evaluate the importance of a decision in the context of the situation and estimate what the likely consequences could be. Assessing the risk correctly is often half the battle. Higher risk decisions clearly require more diligence in consultation, analysis and assumption verification. Knowing when to apply detailed analysis and when to go “with your gut” should align with your assessment of the level of risk. Intuition and experience alone can be applied successfully when the risks are fairly low and the need for speed is equal to accuracy or outcome.

STOP AND TAKE STOCK OF THE SITUATION

The ability to pause and reflect before reaching a decision may also be recommended based on your current mindset and mood-biases. It’s important to ask yourself if you would reach the same decision on a different day, if you were in a different frame of mind. If you feel stressed, upset, exhausted or generally unwell, it is clearly best to avoid making big decisions. Things frequently go wrong when project managers are chronically over-stressed and over-tired. An effective approach is prioritising self-care and taking regular short breaks for daily reflection and review. Having a positive mindset and a well-rested, calm demeanour is a simple, yet often undervalued element of good decision making.

IT’S OK TO MAKE AN ERROR

Finally, we shouldn’t expect to get it right every time. We all make poor decisions from time to time. What’s most important is to continually reflect on the outcomes of your decisions and how you would approach the situation differently in the future. Identify what bias you may have had and which part of the decision making process could be improved, if any. In an imperfect world there are always some missing facts or biases that we may not be aware of. Continual reflection, growth and owning your mistakes will ultimately make you a more successful decision-maker and well-respected project leader.

Author: Tamara Mirkovic, Program Manager, Accelerating Science Delivery Innovation Program, Department of Environment and Science. Tamara is a project professional with over 15 years’ experience managing complex ICT and Digital Transformation projects and programs, with a special interest in the human side of project management. Tamara works to inspire and encourage continual growth and development in teams by leading with empathy, optimism, open collaboration and a desire to achieve the best possible outcomes for both people and projects.