Establish Accountability - The need for a systematic way to evaluate and approve new projects for IT
Do you ever have more resources than you need? Do you ever find yourself overstaffed with too little work to do and plenty of time? Doesn’t sound likely, does it? Therefore you need to determine a way to systematically get new projects approved. The VP of Marketing panicking again about the website does not count as systematic. You need to determine what matters for your customers. As an IT leadership team, we have set up three gate criteria for new projects. They must either:
Save money
Mitigate risk
Improve efficiency
Now, both our team and our clientele know if they have an idea that does not in some way, shape or form fit into one of these three criteria, the likelihood of it getting approved is low. That is not to say that it cannot happen, but it is less likely. Also, as part of the evaluation of projects, you must introduce the concept that not all projects get to run until completion. Some projects must be terminated, if they are not aligning with the core objectives of the department or business. Therefore, it can be helpful to ask stakeholders, “Which project would you like us to cancel in order for us to take on this new project?” This approach can provide a healthy litmus test to determine if the new project carries real business value, or was just a “nice to have” request.
Systematic evaluation can also lead to portfolio analysis of your existing project workload. Similar to performing a quarterly review of your investment portfolio, where you may have to trim underperforming funds or reposition investments to be more or less aggressive, you should also critically review the projects you are working on. By simply asking yourself and your team, “Are these projects still worth doing?” you can validate that you are adding value, that you are pulling in the same direction as the department or overall organization, and ensure that you are not merely drifting through the motions, but actively making a difference.
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