Home renovations are notorious for going over budget. But plenty of other endeavors — whether it’s construction or space exploration — have the same problem. Big projects are high-risk and high-cost by nature. How can we increase our odds of success?
Shorten the Active Phase
Projects that fail often suffer from extended durations, which heighten the risk of unforeseen “black swan” events. To get a project done quickly, use a two-phase approach: slow, meticulous planning followed by fast, efficient delivery. By shortening the active phase, your project will be less susceptible to disruption (and, by extension, going over budget).
