How to Survey Changes to Your External Business Environment | Summary and Q&A

TL;DR

A project manager needs to be proactive in understanding and adapting to changes in their wider business environment using tools like roadmaps and the Specters framework.

Key Insights

• 📽️ Effective project managers understand that their job extends beyond the boundaries of their project and encompasses the wider organizational and business context.
• 📽️ Adopting a proactive and vigilant approach, like a meerkat surveying its surroundings, helps project managers identify potential threats and opportunities.
• 👻 Roadmaps serve as useful tools for capturing future events and trends, allowing project managers to plan and adapt accordingly.
• 🧑‍🏭 The Specters framework offers a comprehensive approach to analyzing the societal, political, economic, commercial, technological, regulatory, environmental, safety, and security factors that may impact a project.
• 🍉 Short-term, medium-term, and long-term time zones on a roadmap provide a structured way to categorize and prioritize anticipated events and trends.
• 🍉 The time scales for considering trends in the long-term future vary depending on the nature of the project and its expected lifespan.
• 🧑‍🏭 The Specters framework emphasizes the importance of considering not only external factors but also the internal politics, economics, and commercial aspects within an organization.

Transcript

a wise project manager knows that their job is not constrained by the boundaries of their project indeed their project sits in the wider context of their organization and they also know that their organization sits within a wider business and social context as a serious project manager you need to be able to look ahead and survey the forthcoming ch... Read More

Questions & Answers

Q: How can project managers ensure they are aware of changes in their wider business environment?

Project managers should adopt a proactive approach by regularly surveying the horizon, using tools like roadmaps to visualize and track events and trends that may impact their project.

Q: What is the purpose of a roadmap in project management?

A roadmap is a visual tool that helps project managers to identify key events and trends in the near, medium, and long-term future, allowing them to plan and adapt their project strategy accordingly.

Q: How do project managers define the time zones on a roadmap?

The time zones on a roadmap, namely near, medium, and long-term, depend on the project's duration and the context. Short-term may range from six weeks to six months, while medium-term could be up to one or two years. Long-term considers horizons beyond that.

Q: What is the Specters framework, and how can project managers use it?

The Specters framework, an acronym for societal, political, economic, commercial, technology, regulation, environment, safety, and security, helps project managers identify and analyze trends and changes in these areas to anticipate potential risks or opportunities for their project.

Summary & Key Takeaways

• A wise project manager understands the importance of the wider context of their project within their organization and the broader business and social context.

• Project managers should adopt a "project meerkat" mentality, regularly surveying the horizon for potential changes that could impact their project.

• Roadmaps are a valuable tool for documenting future events and trends that may affect a project, helping to plan and mitigate risks effectively.