Side Notes: The foundation for supernormal profits

“Facts do not cease to exist because they are ignored”

The foundations of a project’s success is always tied to its beginnings. When troubleshooting the failing projects I have rescued, a lot of time is spent carefully ploughing through the project start-up phase – focusing in particular on the project scope. This process is known as an AUDIT. The activities within this process, usually uncovers lots of wastage. In that wastage the audit determines feasible solutions that either no-one wants to touch or they may have gone unwittingly ignored. As Aldous Huxley wisely stated, “Facts do not cease to exist because they are ignored”.

It is not easy to undertake an audit

In all cases an audit process in the hands of an experienced IPM can uncover these hidden “facts”, and produce a rescue package for most failing projects.  Required solutions for the rescue package often lay dormant in the roots of a project’s beginnings, but we are not taught to realise that they are there. It is not easy to undertake an audit, especially when some within top management push this easily aside – because they require fast and immediate results.  The problem with this is that their short-sightedness compounds project failure, and counteracts the required yield for project success.

International Project Managers (IPMs) have to positively exceed their remit

As I mentioned, there are various levels of project success, but a truly successful project is an enduring one – producing supernormal profits (not only through monetary value). It is simply not enough to deliver a project on time and within budget. International Project Managers (IPMs) have to positively exceed their remit to deliver customer best value. Whilst, at the same time they must develop their team, mould them with attributes that they can take beyond the project (and not discard them after they are no longer required). Of course, in certain climates, this is not yet accepted as a best practice – but it will be.

Individual team members are the key for organisations to realise the existence of
supernormal profits.

Finally, through cultivation and management of invisible assets of a project (metaphysical skills), IPMs will definitely discover lost or hidden treasures in projects. Through conviction, with a purpose to succeed while remaining trustingly supportive of their team, they will definitely open any closed doors.  It is this combination which acts as the basis for supernormal profits. Individual team members are the key for organisations to realise the existence of supernormal profits. Organisations failing to proactively and genuinely cultivate the hidden values locked within their employees are destined to attract failures.

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