Danish economic geographer Bent Flyvbjerg discusses the role of power, dynamics, and psychology in project management. He highlights the importance of combining optimism with realism, building a culture of continuous learning, and precision in forecasting. Flyvbjerg emphasizes the significance of understanding and managing unknowns in project management and shares lessons from the Chicago Fire Festival and Jimi Hendrix's Electric Lady Studio.
Leaders should embrace the role of unofficial project managers for successful project guidance.
Combining optimism with realism is crucial for effective navigation of big ventures.
Disciplined forecasting and precise estimation are key for realistic project planning and success.
Deep dives
Understanding Economic Geography and Big Projects
An economic geographer specialized in the economics of geography, Ben Flubier discusses his focus on big projects costing billions of dollars and their impact on cities and regions. He highlights the importance of designing and delivering such ventures efficiently to positively influence living environments and cities.
Psychology and Power in Project Management
Flubier emphasizes the critical roles of psychology and power dynamics in project management. He delves into cognitive biases affecting project outcomes and the manipulation of power for influence. By combining real examples, scholarly research, and databases, he illustrates how optimism, biases, and power games impact project success.
Dealing with Unknown Unknowns in Projects
Addressing the complexities of unknown factors in projects, Flubier introduces the concept of reference class forecasting inspired by decision-making tools like those developed by renowned psychologist Daniel Kahneman. He stresses the need to acknowledge and prepare for unknown unknowns through historical project data analysis to mitigate risks effectively.
Importance of Precision Forecasting and Starting with Goals
Flubier advocates for disciplined forecasting in project management, emphasizing the significance of precise estimation for costs, timelines, and benefits to establish a realistic business case. By highlighting the principle of starting with the ultimate goal and planning backward, he underlines the value of mindful, goal-oriented project strategies for success.
Lessons from Project Failures and Successes
Drawing on experiences from successful project leaders, Flubier identifies the optimal blend of optimism and realism as a key trait for project success. He contrasts this with the common issue of overlooking psychological and power dynamics, emphasizing that hope alone is not a sustainable project strategy. By understanding the psychological and strategic aspects of project management, individuals can navigate challenges more effectively.
Episode 284 | The role power, dynamics, and psychology play in project management is profound according to Danish economic geographer Bent Flyvbjerg. He discusses the crucial elements of successful projects, the pitfalls that lead to failures, and the importance of combining optimism with realism to navigate big ventures effectively. Flyvbjerg encourages leaders to think slow and act fast, while building a culture of continuous learning and precision in forecasting.
• The Unofficial Project Manager: Everyone manages projects at some point, but leaders especially have an important role in guiding projects as unofficial project managers. A Guide for Leaders— http://pages.franklincovey.com/the-unofficial-project-manager-a-guide-for-leaders-p.html
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