S01E02 - Leading without authority sounds like a great feel good statement. But, any leadership requires power; power is Granted and Earned. How does one gain Earned Power without heavy titles?
Follow-up Question from a Reader: This was a great one Aadil! I wonder what are the key factors the drives the decisions for project managers to allocate scarce resources.
In economics, price drives the allocation of scarce resources. In the project world, would it be timelines, potential revenue of product etc?
Answer: There are few key drivers
- The key drivers for decisions at organizations are strategic objectives or OKRs for those that use them - more customer acquisition, more sales, more membership retention.
- Revenue impact or increase is another key one important driver of scarce resource assignment BUT be warned that these numbers can be dubious at times. So, as a Project Manager, you job will be to understand how this revenue impact was derived and whether the math makes sense.
- Platform capabilities is another one. Should we build more platform capabilities or infrastructure or pay down technical debt or clean up our tech stack OR keep building more features to capture more revenue? This is delayed gratification calculus, short-term vs long-term thinking which I have written about in the past.
Follow-up Question from a Reader: This was a great one Aadil! I wonder what are the key factors the drives the decisions for project managers to allocate scarce resources.
In economics, price drives the allocation of scarce resources. In the project world, would it be timelines, potential revenue of product etc?
Answer: There are few key drivers
- The key drivers for decisions at organizations are strategic objectives or OKRs for those that use them - more customer acquisition, more sales, more membership retention.
- Revenue impact or increase is another key one important driver of scarce resource assignment BUT be warned that these numbers can be dubious at times. So, as a Project Manager, you job will be to understand how this revenue impact was derived and whether the math makes sense.
- Platform capabilities is another one. Should we build more platform capabilities or infrastructure or pay down technical debt or clean up our tech stack OR keep building more features to capture more revenue? This is delayed gratification calculus, short-term vs long-term thinking which I have written about in the past.