Resources Speak

Raphael H Cohen

Chapter 16 in Pre-Project Excellence, 2024, pp 191-201 from Springer

Abstract: Abstract This chapter reminds the concept of the “magic triangle,” highlighting the interdependence of Resources, Action Plans, and the ultimate Definition of Success. It focuses on the need for proper evaluation of Resources and investment requirements to reduce Unknowns as well as to achieve the desired Definition of Success. Resources include not only financial aspects but also knowledge, skills, time, equipment, and networks. Having a qualified and highly motivated team is also critical. To optimize team interactions, this chapter recommends using the engaged team charter (ETC.) to optimize team interactions. This chapter emphasizes the importance of securing early enough the necessary Investment for implementing not only the Action Plan for reducing Unknowns but also the Plan for delivering the Definition of Success. The project team should thus seek Resources from the right people and build a sufficiently large network. If the required Resources/Investment cannot be obtained, it is imperative to adjust both Action plans and the Sefinition of Success (and Failure) that the new plan can realistically deliver. Since ISO 56007 states that resource investment requirements and innovation capability building are two of the selection criteria, the content of this chapter can be used to refine the understanding and operationalization of these selection criteria.

Keywords: Investment; Resources; Action plan; Financial projections; Budgeting; Feasibility; Cash flow analysis; Cash flow; Raising funds; Conditional commitments; Project failure; IpOp Model; Pre-project; ISO 56007; Unknowns (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:fuobcp:978-3-031-61774-4_16

Ordering information: This item can be ordered from
http://www.springer.com/9783031617744

DOI: 10.1007/978-3-031-61774-4_16

Access Statistics for this chapter

More chapters in Future of Business and Finance from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().