A friend of mine has a business right now that has some challenges. He has most of the revenue stream tied up with one customer and their partners. Things are not going well, and changes have to be made due to quality and contractual problems with one of the key suppliers.
These challenges often face us in the middle of our projects, but they become strategic when the entire business relies on one project, relationship or supplier. When faced with potentially catastrophic outcomes in a project we have to do several things. These include:
- Keeping our cool. Rarely are complex problem solved by getting angry, however much we may feel releasing our emotions
- Plan for alternatives. Sometimes we are faced with making dramatic decisions because of a crisis. Consider these alternatives and play out the scenarios of different choices
- Stay with it. I have been on the receiving end of projects that the PM escaped from, by leaving the company. There’s not a lot of glory in quitting, even if you have to shut down the project where that is the best alternative.
- Seek valuable input from others. Often the best solutions may come from some one who is not wrapped up in the problem on a day to day basis. Ask and you may receive.
