- Hardcover: 304 pages
- Publisher: Amacom (1 May 2011)
- Language: English
- ISBN-10: 0814416829
- ISBN-13: 978-0814416822
- Product Dimensions: 2.5 x 15.2 x 24.1 cm
- Average Customer Review: 4.5 out of 5 stars See all reviews (2 customer reviews)
- Amazon Bestsellers Rank: 748,813 in Books (See Top 100 in Books)
- See Complete Table of Contents
Rescue the Problem Project: A Complete Guide to Identifying, Preventing, and Recovering from Project Failure Hardcover – 1 May 2011
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..". lays out an insightful process, based on real world examples, to identify, prevent and recover from project failure." -"-PM World Journal"
From the Back Cover
PRAISE FOR PREVIOUS EDITIONS OF RAISING CAPITAL:
“… a definitive guide for entrepreneurs and growing companies that need to raise capital.”
— Fort Worth Star-Telegram
“Combating the often elusive nature of understanding private investing and venture capital, Andrew Sherman has prepared in one reference source a primer that demystifies in simple, layman’s terms how this process actually works. A must-have for any first-time entrepreneur in search of capitalizing a start-up enterprise.”
— Julia Spicer, Executive Director, Mid-Atlantic Venture Association
“Kudos to Andrew Sherman and his editors. Rarely does a second edition of a best-selling primer widely improve on its original. But Sherman’s new Raising Capital does that grandly. For anyone embarking on raising money—for the first time or the tenth time — this is a must-have tool. It’s the next best thing to having Andrew Sherman himself at your elbow.”
— Burt Alimansky, Chairman, The Capital Roundtable, and Managing Director, Alimansky Capital Group Inc.
“Capital is the lifeblood of an organization, and Raising Capital is the definitive guide to making it pump. Andrew Sherman has pulled all the tips and tricks together into one comprehensive guide. Raising money is hard enough; finding out how to do it shouldn’t be.”
— Verne Harnish, “Growth Guy” syndicated columnist; Founder, Young Entrepreneurs’ Organization
“I heartily recommend Raising Capital to all entrepreneurs starting down the fundraising path. If those seeking funding from our angel investor groups would read this book first, there would be a lot fewer disappointed business owners!”
— John May, Co-Founder, The Dinner Clubs and coauthor of Every Business Needs an Angel
“Andrew Sherman has been counsel to some of the most exciting start-ups in the mid-Atlantic region. His hands-on experience guiding companies through good times and challenging periods provides the real-world insight that aspiring entrepreneurs can put to use. Because he recognizes that not all start-ups are candidates for venture capital, he lays out the various alternatives. For those companies which are a good match for venture capital, he provides practical guidance for getting from business concept to successful IPO or acquisition.”
— John S. Taylor, Vice President of Research, National Venture Capital AssociationSee all Product Description
Inside This Book(Learn More)
Top Customer Reviews
This is a very honest book in that, the author is very clear about what you should expect as well as highlighting the prior knowledge required. The book is aimed squarely at project professionals with knowledge of either PMI PMBOK or Prince2 approaches. This is a nice touch as too many books are written with either American or UK audiences in mind, but rarely for both.
The first chapter highlights the recovery process of: Recognition; Audit; Analysis; Negotiation; and, Execution. These themes are explored further in the succeeding chapters.
Projects involve people and this is what makes them both interesting and on occasions, frustrating. The author recognises this and at least half of the book explores how to get the best out of the various stakeholders, with the remainder of the book providing tools to assist in this.
One of the real strengths of this book is the case studies scattered throughout the book. Although predominantly IT focused, this reflects the author's real experience and I was surprised at how many of these I had witnessed myself. This reinforces the view that much of our learning comes from our own experiences of projects issues and failures. Anyone who denies they have not experienced at least some of these key points has either been very lucky or are misleading themselves. Rather than pointing the blame, the author offers approaches to working with a range of stakeholders.Read more ›
Most Helpful Customer Reviews on Amazon.com (beta)
Williams embraces a holistic approach to project management. He explains the need and value of existing project management tools that help rescue the project management. And he goes beyond the mere listing of tools. In the Introduction of the book he stresses four key factors that are critical in rescuing a problematic project: (1) The answers to a problem in or with a project are in the team. (2) A strong team can surmount most problems. (3) Stay involved with the team. (4) Objective data is your friend, providing the key way out of any situation. By emphasizing the value of the team Williams goes beyond a mechanical "Abhandlung" of a recipe book for project rescues. He explains in simple, plain and thus easy to understand language why most answers to problems in and with a project are rooted in the team. A project is not made up of resources but human beings interacting in a social environment, building communities and network. As complex and complicated this network is, it contains an endless number of potential traps and opportunities at the same time.
Having set up the foundation of his approach to rescuing projects Williams outlines 5 steps to recover struggling projects:
The first step is to realize that a problem exists. As simple as this sounds this may actually be the most difficult step of all. The key is that the awareness of a problem is not limited to the operational level of a project but that management has to acknowledge this fact and expresses an interest in resolving the issue, helping the team to become successful.
The second step to project recovery is an audit of the project. The term "audit" has a negative connotation to many project practitioners. This must not be the case if all audits would follow the guidelines Williams describes in his book. He starts analyzing the human role in a project, followed by reviewing the scope on a red project, determining timeline constraints and examining technology's effect on the project.
The insights gained from the audit analyzed in the third step. They are the ingredients for planning the actual project recovery. To me this part of the book is the most valuable one. Not because the author develops a clean and clear outline effective approaches to analyzing audit data but because he explains how they fit in with the core statement of the book, that a strong team is one of the critical success factors for project recovery. Doing so he stresses that project recovery is not a mechanical task, following a checklist and applying sane project management techniques. Instead he explains that it takes leadership and oversight, a deep understanding of the heart and soul of a project. Acknowledging the fact that more and more projects do not follow the traditional, sequential waterfall approach, Todd Williams gives an overview of other project management frameworks and methodologies, namely Agile and Critical Chain. He then compares them with respect change management needs, customer relationship, estimations, project constraints, subcontractor relations, and team structure.
The fourth step to project recovery is to propose workable resolutions. This is when the recovery manager presents the insights from the audit analysis and concluding mitigations and negotiates the next concrete steps with the project sponsor and stakeholders. Williams stresses the importance of staying focused on project recovery and not getting sidetracked by distractions such as maintenance and other conflicting projects.
Last but not least, the fifth step involves the actual execution of the recovery plan.
As hard, tedious, frustrating and rewarding project recoveries can be one of the key questions is what project managers can learn from past mistakes and successful recoveries. This is covered in the final part of the book entitled "Doing it Right the First Time: Avoiding Problems that Lead to Red Projects". It shows that project failure often starts at the very beginning of the project. It can be prevented by properly defining a project's initiations, assembling the right team, properly dealing with risk and implementing effective change management.
While the book may be most interesting to those who are facing or have faced problem projects I hope that novice project managers read this book, too. It will help them avoid common mistakes and set up a good and solid structure for project success. And in case troubles arise this book will help them guide projects to safer havens.
Todd offers insightful and sometimes amusing explanations in his case studies. I particularly liked Case Study #3-1 The Stockholm Syndrome. But my favorite was Case Study #8-5 Name the One Thing the Customer Would Love. It never hurts to make me smile while reading something that could, in someone elses hand, be considered dry.
The book presents suggestions and prescriptions based on the author's 25 year experience as a "Senior Audit and Recovery Specialist" and each chapter is peppered with very readable, brief case studies highlighting examples of his applying the techniques he describes. While there are a few examples that come off as a bit self-aggrandizing all are immensely helpful in understanding how and why the techniques work which provides a degree of credibility lacking in many business books.
A seasoned Project Manager will recognize their own experience as the author notes that poor scope definition, lack of executive leadership, and ineffective change management are barriers to project recovery (and most likely contributed to problems in the first place). And no PM should be surprised at the need to perform an audit and engage with stakeholders to collect data and understand the current and desired states. However the author follows his own prescriptions providing specificity in his examples of how each of these is often done wrong and how to do them right.
It may be unsettling to some PM's to read the suggestion that a specialized, external "Recovery Manager" rather than the Project Manager him or herself is the best person to perform the audit and analysis. The chief argument in favor of this approach is that "An objective view is critical to a proper audit and reducing any preconceptions of a solution." The book notes the potential for resistance to this notion but it seems a reasonable approach and calls to mind the frequently cited Einstein quote that "Problems cannot be solved by the same level of thinking that created them."
The audit is the second of the five steps in the recovery process with the first being the problem realized and the remaining three being analyze data, negotiate solutions, and execute the new plan. The "how to" of each step is well described and the book's companion website provides templates and spreadsheets to assist in rescuing your own projects should your organization decline to hire a recovery manager. Another of the recurring themes of the author's method is to start performing root-cause analysis early and to respond to the findings quickly, "This is a distinguishing feature of my approach; other approaches often omit root-cause analysis or leave it for the end of the process." The reason for this is straightforward...until the root causes are found and mitigated; they are still able to exert the same kind of pressure on the project that put it in the red in the first place.
Identifying and recovering from project failure are not the only goals of the book; prevention is an essential theme to which the last 40 pages are dedicated and again the author's experience proves valuable as he provides details for improvement in, and specific examples of the areas of leadership, team management, risk and handling change. Chapters 10 through 13 are not officially part of the section on prevention but clearly could be. These chapters provide some of the best primers on and comparisons of classical, agile and critical chain methodologies that I've read and I couldn't agree more that when it comes to methodology, "This philosophy--one size fits all--really fits no project." The idea is to treat methodologies as tools in the bag where the marrying of the right methodology to the particular project can go quite a long way toward avoiding problems.
While many of the 261 pages of Rescue the Problem Project present ideas with which an experienced Project Manager is likely familiar, there is much to gain in the detailed examples and the way in which the ideas are presented. New PM's (those who have some education or experience in the field) will certainly benefit as they learn from the author's advice and experience how to prevent projects from going into the red.
It offers level-headed, immediately applicable approaches for anyone who finds themselves cleaning up a project mess. I think the book is especially valuable for people who are dealing with their first project recovery.
I required portions of this book in my Practical Project Management for Leadership course: twenty percent of the participants--folks from five continents--felt it was the most helpful of the assigned readings.