Finding an Optimum - 'More Haste: Less Speed'

TL;DR

Optimization is instinctual, but finding the optimum can be challenging. Lessons from Jevons and Breccia's paradoxes can help project managers make better decisions.

Transcript

we all want to optimize we want to find the optimum we want to take a shortcut we want to find the trunk route to success yet sometimes the optimum isn't where we expect it to be so in this video I want to share some of my thoughts about finding the optimum finding the optimum is a natural instinct we all have it and I've seen it in management for ... Read More

Key Insights

• 🗯️ Optimization is an instinctual desire, but finding the optimum requires looking in the right places.
• 📽️ Project managers face challenges in finding the optimum due to the uniqueness of each project.
• 👋 Learning lessons and applying best practices are essential, but constant monitoring is necessary to ensure success.
• ❓ Jevons paradox highlights the unintended consequences of efficiency improvements.
• 😚 Breccia's paradox demonstrates that closing a major trunk route can lead to faster traffic movement.
• 🐢 Introducing additional resources to solve a bottleneck can paradoxically slow down a project.
• 💄 Project managers should consider all alternatives and evaluate potential consequences before making decisions.

Questions & Answers

Q: Who is William Stanley Jevons and what is Jevons paradox?

William Stanley Jevons was a 19th-century economist who observed that as machines became more efficient, their lower operating costs increased demand, leading to higher consumption. This paradox highlights the unintended consequences of efficiency improvements.

Q: What is Breccia's paradox?

Breccia's paradox, observed by Dietrich Bress, states that temporarily closing a major trunk route can lead to faster traffic movement. This occurs because people find alternative routes, and some may opt for alternative modes of transportation.

Q: How do Jevons and Breccia's paradoxes relate to project management?

These paradoxes emphasize the importance of considering alternative routes and evaluating all options when faced with a problem. Trying to simplify or introduce additional resources can have unintended consequences and slow down progress.

Q: What is the primary role of a project manager according to the video?

The primary role of a project manager is problem-solving. They should carefully consider all alternatives, evaluate their potential consequences, and make informed decisions.

Summary & Key Takeaways

• Optimization is a natural instinct, but we often don't look in the right places to find the optimum.

• Project managers face the challenge of finding the optimum in a complex and ever-changing environment.

• Learning lessons and applying best practices is not enough; constant monitoring of the impact of changes is necessary.