Key Messages
How To Successfully Manage Innovative Projects On Time And Budget
For successful project management, you need to be able to keep budgets tight, deadlines met and suppliers and team members happy.
But these things can become particularly difficult when dealing with an innovative project that requires untested techniques or technologies.
So how do you ensure a successful outcome?
F.I.R.E., a new method described in this book, provides the answer: by borrowing technology from other projects, “stormdraining” solutions instead of brainstorming them, and engaging stakeholders early and often.
This book introduces readers to F.I.R.E., a practical guide for managing innovative projects on time and under budget by following rational and logical strategies that draw from the successes of past projects (and incidents).
Learn how NASA keeps their projects on track while avoiding costly mistakes like those made by the US Air Force when they failed to engage the Soviet threat.
Get up to speed on F.I.R.E.’s framework and put it into practice today!
Creating A Fast, Inexpensive, Restrained And Elegant Project With The F
When it comes to getting the best results in the quickest and most efficient way possible, the F.I.R.E.
method is your go-to solution.
This method stands for Fast, Inexpensive, Restrained, and Elegant and can help you stay on track as a project manager or leader of any creative endeavor.
The key to this approach is breaking down your task into smaller manageable chunks to make progress on quickly without sacrificing quality–working quickly but sloppily won’t actually save you time in the end.
Additionally, it means keeping costs low by problem solving with what resources you have access to, instead of throwing money at solutions.
You will also need to stay disciplined and maintain control over your process by considering scheduling regular meetings, forming small teams, staying restrained within a budget and focusing on simplicity where less is more!
Applying the F.I.R.E.
method properly ensures that all projects are completed with high quality and efficiency for maximum success!
Triz Is A Powerful Tool For Problem-Solving Innovation
When it comes to problem-solving, the key is to first work on generalizing the problem in order to identify your general needs.
Instead of focusing on a specific solution to your problem, take a step back and look at the bigger picture; this will help you figure out what resources you need for an effective solution.
A great example of this can be seen when designing a plane engine; instead of looking for a specific material, focus instead on identifying the power-to-weight ratio and which materials can improve that ratio.
TRIZ – which stands for Technical Problem Solving Method – is the perfect way to help guide you through this process.
With four easy steps you can find a general solution to any technical problem; first identify the specific issue, then generalize it, find a general solution and finally use that solution to create a tailored answer to your original issue.
Let’s say you’re trying to create a larger engine so that your plane can travel farther and higher but can’t lift off due to its weight; start by looking at the power-to-weight ratio as well as what materials are available for maximum efficiency.
By having an overview like this, it’ll help you figure out the best resources needed for an effective outcome.
So don’t forget: If you want an effective solution then first identify your general needs and look for ways to generalize your individual challenge!
The Lessons Of The F-22 Project: Focus And Control To Avoid Costly Delays
When it comes to innovative projects, one of the most important lessons is to stick to a set schedule and budget.
This can save you from unnecessary costs and delays.
Just look at the F-22 Raptor stealth fighter jet project that began in 1981.
The project was intended to fight Soviet technology, however by the time it was completed in 2005 the Soviet Union had already collapsed.
What happened?
The problem lies with what designers attempted to do – they extended the deadline for completion for six months so the fighter jet could be perfect.
As a result, added functions led to increasing costs and further delays which snowballed until it was 10 years late.
To avoid this set your schedules and budgets ahead of time and don’t add superfluous features that may end up costing you more money or delay your progress.
Stick with solving a specific problem instead, otherwise you risk being left behind like the F-22 was when drones came onto the scene – fast, inexpensive, restrained and elegant solutions that embody the F.I.R.E method .
An example of such a solution is Dragon Eye drone, which only has one function (surveillance) but can be produced for only about $60K.
Nasa Shows That Innovation Doesn’T Have To Be Complicated And Expensive
NASA is dedicated to the idea that innovation doesn’t have to be complicated and expensive.
This commitment to simplicity and speed is exemplified by its missions, such as for example the Stardust project in 1999.
This project aimed to collect particles from comets and bring them back for study – all on a tight schedule and budget.
This was achieved by focusing on the three main goals: collect 1,000 particles; encounter the comet; and return the particles home.
Any additional tasks were considered desirable but secondary, enabling NASA to complete the mission well under their budgeted expenses of some million dollars.
The key here was that they focused on innovating only when necessary, using existing tools and solutions developed for previous missions where possible.
The exception was a new material called aerogel which was created just for this project – again proving that NASA seeks to innovate only where essential, rather than making every feature of a mission brand-new.
Stormdrain Your Projects For Maximum Efficiency
Innovation shouldn’t be complicated; it should be simple and straightforward.
Take the example of Google’s Chromebook which comes with only the most commonly used features; searching the internet and using Google Drive.
By keeping their laptop easy to use, they don’t have to worry about making it too expensive or taking too much time in development.
This concept is known as stormdraining: finding the midpoint between simplicity and complexity.
To find this point, start by removing one feature at a time from your product until you reach a balance where you still have a functioning product without any unnecessary additions.
This process requires creativity and some trial-and-error, but it’s far more efficient than creating an overly complex product.
The bottom line is that when it comes to true innovation, less really is more.
By cutting out all of those extra features, costs are minimized and products get completed faster – resulting in great rewards!
Wrap Up
The F.I.R.E method outlined in this book is a great way to make sure that your projects are finished on time, within budget and with high-quality results in the end.
You need to focus your energy and resources on your most important tasks, ensuring that you spend as little time (and money) as possible without compromising on quality or efficiency.
Keep it simple when streamlining your efforts – aim for something elegant rather than something overly complex in order to really get the most out of this method.
If you follow these guidelines, you can be assured of finishing your project effectively, quickly and with the best possible final product.
