This Focused Performance Weblog is a "business management blog" containing links and commentary related primarily to organizational effectiveness with a "Theory of Constraints" perspective. TOC is noted for its applications in Project Management and Multi-Project Management (Critical Chain) and Operations Management (Drum-Buffer-Rope), as well as in Marketing, Strategic Planning and Change Management (TOC Thinking Processes). If you are on an archive page, current postings are found here.
If you choose to spend time and money to learn something and then make a decision based on that information, the odds of success should be better than not having obtained that information. You can compare whether its better to get the information or plunge ahead without it.
I've often had problems with this approach, though. When payoffs are potentially very large, small changes in the odds don't make much of a difference if they consume much time. This leads to plans that consume maximal resources, assume maximal risk at all times in order to get to the payoff fastest.
Resources are never sufficient for this kind of effort though. And if one project gets this kind of treatment, every other project gets no resources.
It's all a question of "good enough." But what is "good enough?"
posted by Frank - Permanent Link -
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