Marichu G. Apilado Corporate Governance

MARICHU G.
APILADO
CORPORATE GOVERNANCE:
Exercise:
Enumerate and explain thoroughly every possible scenario that a poor corporate governance
leads to the failure in the implementation of corporate plan.
There’s an old saying that if you fail to plan you plan to fail. This certainly holds true in the
project management world, in our daily business endeavors, and in our personal lives. Why plans
fail. The same analogy can be applied to strategic initiatives and project plans. With so many
factors, it can certainly be difficult to estimate plans accurately. However, there are plans and
there are plans. There are plenty of reasons why bona fide project plans can and do fail. The
good news is that these can be addressed preemptively with project management tools that help
you reduce the likelihood of a nuclear meltdown.
Financial estimates are significantly inaccurate
Cost estimating: art or science? All too often, projects proceed with little more than a general
estimation of what sorts of resources are needed (this holds true for estimating required people-
power, too). The further along a project is allowed to proceed without adequate financial controls
and checks in place, the higher the overall costs involved. This can include more than just bottom
line financial costs, but can also extend to customer satisfaction and your perceived reliability as
a business and team.
Plans are overly complex
We all know someone who is a plan over-engineering extraordinaire. They write pages and
pages of text, mix in complex, overly detailed charts and diagrams, and create a schedule with so
many contingencies and restrictions that it becomes virtually impossible to follow — let alone
implement — by the project team.
If strategic initiatives aren’t capable of being effectively communicated because of their
complexity, then team members cannot be expected to carry them out as intended.
Unrealistic goals or lack of focus and resources
Strategic plans must be focused and include a manageable, clearly defined number of goals,
objectives, and programs. Adequate resources to accomplish those goals and objectives outlined
in the plan must be adequately allocated.
According to a study, effective communication methodologies enable project teams and

organizations to increase quality, scope, and business benefits success. When planning a project,
the scope must be comprehensive, detailed, and crystal clear to team members, stakeholders, and,
preferably, to the entire organization to lay the foundation for its success. Implementing a
holistic planning process, building a realistic business direction for the future, and employing
effective communication channels among teams greatly improves the chances for successful
implementation of your overall business strategy.
Plans are based on insufficient data
Often — and particularly in the software development realm where Agile processes have been
implemented — relevant project data is scarce at the initial planning stages. Without a proper
tool in place to help teams flexibly modify plans as a project evolves and more information
becomes available, this often encourages plans that are too high-level or overly broad (and
vague).
If plans are based on wrong assumptions due to insufficient — or misunderstood — data, they
drive the project towards disaster from the outset, particularly if there is no Plan B in place and
no means with which to easily modify the plan before the project slides out of control.
Inflexible/undefined team roles and responsibilities
Often times, project managers and team members are considered primarily delivery women and
men. They’re handed a project plan, and informed that their performance will be measured based
on how well the project delivers against that designated plan. If they question the assumptions,
estimates, or the general approach set forth in the plan, they’re instructed to “just get on with it,”
as expectations have already been set. Guess who will likely be blamed if plans fails?
While it’s imperative that everyone involved in a project understands from the outset what their
work is, how it fits into the project as a whole, and to whom they will be reporting, it’s also
important that there be mechanisms by which their feedback is factored into the planning and
project processes, particularly as changes in project circumstances require.
Staffing requirements are not fully understood
Resource planning is a crucial part of the project planning process, and, if not carefully
implemented, incorrect assumptions and estimates made regarding human resource requirements,
including the number, role, skill, and timing perspectives can impact project timeframe and
overall bottom line costs. After all, plans depend on the resources who deliver them. Data and
information is crucial both at the planning stages, and throughout the project process, to monitor
availability and project status, and to make any necessary course corrections.
Project scope inflexible to changes
Experience tells us that simply because a plan has been implemented and everyone has agreed to
it doesn’t mean that all will go as expected. It’s never a good thing when the scope of a project
changes and it can usually be avoided through proper planning. But being adaptable and having a
“Plan B” in case it does happen along the way is imperative to help attain the overall project
goal.
How can you keep your plans from failing?
Considering there are so many reasons why plans can fail, one might wonder why ever plan at
all. For one, mapping out a plan before embarking onto its implementation has plenty of benefits.
It enables better organization. It allows for a better understanding of objectives and their
alignment with broader organizational goals, but it also helps identify and take into account any
impediments that exist in reaching those objectives.
Planning helps reduce, and even eliminate, uncertainty, improve efficiency of operations, and
find smarter ways to complete project tasks and deliverables.

Marichu G. Apilado Corporate Governance

Uploaded by

Copyright:

Available Formats

Marichu G. Apilado Corporate Governance

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Marichu G. Apilado Corporate Governance

Uploaded by

Copyright:

Available Formats

MARICHU G.

Financial estimates are significantly inaccurate

Plans are overly complex

Unrealistic goals or lack of focus and resources

According to a study, effective communication methodologies enable project teams and

Plans are based on insufficient data

Staffing requirements are not fully understood

Project scope inflexible to changes

You might also like