Common pitfalls and required patience

What does it take to stay agile and compete effectively in today's business world? Smart leaders are entirely reorienting their organizations around project-based work, says Antonio Nieto-Rodriguez, CEO of Projects & Company. This requires learning how to better prioritize, fund, and staff these initiatives; measure and incentivize success; and quickly end projects that aren't working so resources can be diverted to ones that are. He explains why executives must radically rethink how they and others spend time, how work gets done, and the eventual pay-off of this kind of reorg. Nieto-Rodriguez wrote the book Powered by Projects and the HBR article "The Project Driven Organization."