Capital Incubator Technical Support for Facilities Development
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Are You Ready?

Vision vs. Readiness

There is usually a healthy tension between vision and organizational readiness, when considering a capital project. No organization is ever completely ready. You can’t prevent problems or stumbling blocks, it’s how you solve them that matters.

  • When should you go with the momentum?
  • When should you stop, pull back and reassess your capacity and your choices?
  • What will you gain, and what will you lose, by going in either direction?

Calculating Your Risk

  • Embarking on a capital project is a calculated risk. The more you calculate, the less you risk
  • Most organizations underestimate:
    • Project duration
    • Project cost
    • Staff time and commitment required
    • Complexity of the process
    • Impact on the total organization --The tail that wags the dog
  • Don’t underestimate the power of vision and excitement to create momentum and success.
  • What you can lose by leaping before you look
    • $$$; Time; Credibility
  • Calculate your risk to mitigate potential losses.
    • Know your strengths and weaknesses and how to address them.
    • Create checks, milestones, GO/NO-GO scenarios

Integrated Approach

  • Plan for all elements of the project including: board and staff process, real estate development, design and construction, financing, fundraising.
  • Don’t expect a consultant hired for one aspect of project (i.e. project management) to advise you on other aspects of the project (i.e. capital campaign or financing).

Flexibility and Compromise

  • The end result will always be different from what you originally imagined.
  • If you are flexible and open, the vision will be deeper in the end.

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