$31.5 billion lost by firms in knowledge lost – PM network

Not a small number. It speaks volumes by itself. Every other software company is doing the lessons learned exercise atleast at the end of the project, if not at the end of every phase. Thanks to CMM and ISO. The awareness of these are very strong, I mean root cause analysis and corrective actions. When I ask questions alike;

  1. What is the one problem you elimated from this company forever?
  2. What are the requirements management related lessons learned by the organization during the past 5 years?
  3. What are the design related lessons learned during the past 5 years?
  4. Can I see all these, category wise at the press of a button?
  5. Do you refer back to these, while planning for the next phase / project?
  6. Are these part of the induction programs?

none have a satisfactory answer.

It is more like a person who wants to improve and goes to the guruji for advice. He leaves with a lighter heart and with firm resolution to improve. After a period of time, he comes back again, and repeats the same old story. After some time he gets ashamed to meet the same Guruji again and goes to a new Guru.

In a way organizations are like this. They want to improve and excel, and at the same time do not have the conviction on the ROI from these. Hence they end up adopting models after models from consultants after consultants, without much of a transformation. The story repeats again and again, with different actors.

Before venturing into any initiative, understand the need and have a business case which is in alignment with the organization’s growth/business strategy. Have only limited initiatives but focus on them with whole might.

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2 thoughts on “$31.5 billion lost by firms in knowledge lost – PM network

  1. The so called organizations who are the Stalwarts in IT industry has the same challenge. They have the best practices and still they dont have best practices implemented

  2. Now the time has come in India to remove all non value adding activities (optimizing best practices) due to the strenthening of rupee against the dollar, competition from within the country (disparity in operating costs – the ctc of an employee in bangalore is much higher than in coimbatore or phillippines). Inorder to remain as profitable, cost has to be managed without compromising on quality – This is possible only by continuous innovation and optimization. 🙂

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