In this video, veteran author Mike Figliuolo shows you how to match your priorities to available resources and how to hold the line and focus on those initiatives for which you are best equipped.
- A critical step in the prioritization process is looking at all of your initiatives after you've screened them according to your strategic filters and then comparing them to one another so you can create a list that is stack ranked from highest priority initiative to lowest priority. And once you've done that prioritization process, you then need to look at the resources that are available and understand how deep into that prioritization list you can get with the resources that you have. Finally once you have that list and you understand what your resources enable you to tackle, you need to take a step back and make sure you have an appropriate mix of the types of initiatives so you're advancing as many of your goals as possible. Once you've done that and you have that prioritization list, take a look at the resources that you have on hand and for each initiative on that list, go ahead and document what resources you'll need to complete that initiative. And you may need to look at cash, people, technology resources, time, operational resources, whatever it's going to take to get that initiative done you need to document those resources. Then what you do is look at the pool of available resources hey my team has X number of people, our budget has X dollars in it, we have this many hours of IT allocated to us, and then start allocating those resources to that prioritization list. And you start with the first initiative and you give it all the resources it needs to get done. And then you move to the second and you allocate remaining resources. You keep working down that list and allocating resources until you run out. And once you've run out of resources, you draw a line and you say anything above that line is appropriately resourced for us to pursue. And anything below that line we're not going to start work on it until we get an appropriate amount of resources. Now we can start work on those initiatives below the line when we complete something above the line and we free up resources so people who may have been working on the first project are now free when that project is done and they can start on the one that's below the line. Or when we get additional resources allocated to us from somewhere else in the organization, or we may switch priorities and move something from below the line to above the line given changing market conditions. And you as a leader of a high performing team need to hold that line. You will feel constant pressure to work on things that are below the line. People know you have a high performing team but your team will not perform well if you start spreading them too thin and your obligation is to hold the line and if people want you to work on things below the line, you need to ask for the corresponding resources.
Lynda.com is a PMI Registered Education Provider. This course qualifies for professional development units (PDUs). To view the activity and PDU details for this course, click here.
The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.
- Create a compelling vision and mission for your team.
- List the steps to conduct strategic planning activities.
- Identify the resources teams need to succeed.
- Determine the skills leaders need to look for when recruiting high performance teams.
- Explain how to create stretch opportunities for employees.
- Describe the primary components of conflict resolution.
- Build bench strength and succession plans.