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
- 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
• Know your strengths and weaknesses and how to address
• Create checks, milestones, GO/NO-GO scenarios
- 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
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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