2. How (not) to win a contract

The second part in the series of “10 (un)common mistakes to avoid in Project Management”, is How (not) to win a Contract
The pressure to grow multifold, to get more revenue into the kitty prompts companies and business development executives to resort to "unconventional" means to procure projects.Most of us have encountered various unconventional methods used by the go getters of organisations who spare no effort in winning a project for the company.  During the initial stages of bidding for the project this often comes under the guise of agents who can "help" you to get a project. As a Business development executive this is an easy solution but you have only postponed the problem and successfully invited disaster for your Project Delivery team. Not to mention the strain it will create between you and the client as you start the project on the back foot because the client has the upper hand in this relationship. Not the best way to deliver a project. Other problems include a huge dent in your revenue as the agent is going to take away a huge chunk.
Valuable lessons to learn from such uncommon incidents :

• As a professional entity, disallow such practices at the highest levels as they are a surefire way to invite disaster. One project acquired in this fashion will wipe out the reputation earned from all your past projects. The industry in which you work is a small group and word travels fast.
• Emphasise on traditional values like honesty, integrity and hard work above all else – though they might sound archaic and old fashioned in today’s fast paced world.

"Don’t promise the impossible in a ridiculous time frame" is the third in the series. Read about the previous post here.
1. New Business Areas

10 (un)common mistakes to avoid in Project Management

Ten avoidable issues. Very basic, Simple and based on plain common sense but uncommon to find.

New Business areas

 Image courtesy of Renjith Krishnan / FreeDigitalPhotos.net

Success in one region or a particular discipline does not mean you can duplicate your success using the same formula in unknown regions and cultures. If you are an ace at managing and designing residential developments in the Middle east, does not automatically translate to a successful design of an airport project in a different culture and geographical region (and continent) like say South America. In the competitive world, such ventures give the age old adage "Fools rush in where angels fear to tread" a completely new meaning.
Perhaps pressure to grow into new areas pushes companies to venture into such new business areas.
Valuable lessons to learn from such uncommon incidents :

• Employ professionals who have extensive experience in the new areas and business verticals that the company wishes to venture into. Needless to say, these professionals should be trusted and groomed into the company culture.
• Recognise the differences in cultures and geographies which play a large role for new companies entering new geographies and business verticals.
• Recognise the fact that new geographies and business verticals have a gestational period and would take time to yield results and profits
• Recognise the fact that successful strategies and formulae of a hugely successful region and business vertical do not translate to the same success in other regions and cultures.

In the next post I will be posting about How (not) to win a contract 

Other posts in this series

9. Don’t govern by threats
8. Support the team on the Ground
7. Provide Mission Critical information to the Project Team
6. Resource appropriately
5. How to (not) do your budget in five easy steps
4. Read the contract you just signed
3. Don't promise the impossible in a ridiculous timeframe

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