Most organisations' plans for 2020 were disrupted earlier this year. Many companies froze while trying to understand what impact COVID-19 would have on their business, teams, customers, supply chains, governments, travel, families and communities. Others pivoted quickly to apply their capabilities to new opportunities or to carry on delivering existing services in new ways. Others, like some local butchers and grocers, experienced record sales as people made dining at home the social highlight of their isolation week. Sadly, others shut shop, perhaps forever.
Although many months have passed by since the first impacts of COVID-19 were felt in our business and social communities, it is now quite clear that waiting for everything to get back to normal is a futile strategy. Purposeful leaders are looking out beyond the COVID fog to make purposeful progress despite continuing uncertainty.
At People With Purpose we believe sustainable profits + purpose are inextricably linked and so our priority is to help our clients to make profit purposefully, regardless of the operating context. While it may be unachievable and possibly even unwise to plan as comprehensively as we do in more certain times, it is possible to identify specific projects that are worth advancing regardless of the unknowns.
What projects could you be advancing right now that will help you build a more sustainable business?
PURPOSEFUL PROJECT MANAGEMENT
According to the Project Management Institute, 'Project Management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.’ At People With Purpose, we believe 'Purposeful Project Management is Project Management that is impact-led and impact-ful.’ DANIELLE DUELL – PEOPLE WITH PURPOSE
Why Purposeful Project Management?
The role of purpose in business is becoming more clearly understood and valued by leaders across the globe each year.
“The purpose of a company is to engage all its stakeholders in shared and sustained value creation. In creating such value, a company serves not only its shareholders, but all its stakeholders – employees, customers, suppliers, local communities and society”
Davos Manifesto 2020, World Economic Forum
“Without a sense of purpose, no company, either public or private, can achieve its full potential. It will ultimately lose the license to operate from key stakeholders.”
Larry Fink – Chairman Blackrock
Research confirms that companies that act purposefully outperform both those who don’t have a clear purpose statement and those who do have a purpose statement but don’t necessarily use it to guide their operations.
SOURCE: Global Leadership Forecast
Consequently, companies that use their purpose to guide their project selection and management processes have an opportunity to realise greater business value.
How Might You Project Manage More Purposefully?
There are five stages in typical project management, but with purposeful project management, the purpose sits at the heart of the project and is used as a filter for decision-making at each stage of the process.
Initiating
In the initiating stage, use the organisation’s purpose as the first filter for project selection. Document how the project aligns with the company purpose into the project charter. Typical focus areas are:
-
Goal definition
-
Business case
-
Project Brief
-
Engage Sponsors
Planning
In the planning stage, clearly communicate how the project aligns with the company’s purpose and strategy; explain WHY it’s important and the risk and/or opportunity costs of not realising its benefits. Typical focus areas are:
-
Confirm Scope
-
Budget and Resource Plan
-
Schedule and Tasks
-
Risk Management
-
Communications Plan
Executing
In the executing stage, regularly reaffirm the project purpose and its significance to the company purpose and strategy. Communicate and celebrate progress in multiple value terms (economic, social, environmental). Typical focus areas are:
-
Implementation
-
Resource Allocation
-
Status
-
Tracking
-
KPI’s
-
Forecasts
-
Communications
Monitoring and Controlling
In the monitoring and controlling stage, ensure the criteria for success include purposeful metrics (not just time and budget) Evaluate progress and ensure any required adjustments avoid compromising on the purpose. Typical focus areas are:
-
Quality of Deliverables
-
Team Performance
-
Reporting
-
Feedback
-
Resource Management
-
Adjustments
-
Communications
Closing
In the closing stage, ensure outcomes, success and learnings are evaluated AND communicated through purposeful lenses:
•the purpose of the project and
•the purpose of the company.
Ensure learnings are shared widely to inform new project selection and execution. Typical focus areas are:
-
Deliver the scope
-
Document and debrief learnings
-
Celebrate success
-
Communicate outcomes
-
Release project team
Organisations with a clear sense of purpose are at an advantage when navigating VUCA environments because they can reduce some of their environmental and operating complexity by applying their purpose as the first filter to all decisions, opportunities and challenges. They are more efficient at identifying and implementing projects that align with their purpose and can therefore maintain momentum in project increments, even if large portions of their operating context remain unclear or unviable in the short term.
Here are a few questions to get you started on identifying some purposeful project opportunities:
“How might we best fulfil our purpose in these circumstances?”
“In what new ways might we fulfil our purpose in these conditions?
“What value can be created purposefully here?”
“Which of the available options presents the best opportunity to deliver on our purpose?”
“Will pursuing this particular project bring us closer to, or further away from our purpose?”
With that in mind, what projects could you and/or your organisation be pursuing right now that align with your purpose?
As leaders, we have an opportunity to act as an example for others, and foster purposeful action even in imperfect circumstances. As decision-makers, designers and managers of business projects, it is always possible for us to lead our teams purposefully and use our businesses as a force for good.
Want to learn more about Purposeful Project Management. Subscribe to our FREE mailing list to download our Guide to Purposeful Project Management which gives you a step by step guide on how to apply purpose to each stage of the Project Management lifecycle. Contact us at why@peoplewithpurpose.com if you have any issues.
