4 New Year’s Resolutions For Ambitious Capital Project Leaders

New Year's Resolutions for Capital Project Leaders

No matter where you’re at in your career, or what challenges your organization is facing, any one of these four resolutions will move the needle.

It’s a new year in a new decade, and you’re heading back into the office with a fresh focus on hitting milestones and advancing key projects. Perhaps the shutdown period is approaching and projects are experiencing delays, maybe half the team is still away on vacation or perhaps some long lead items have just been delayed. You know that things are going to accelerate quickly in January, and that now is the time to set some goals.

What are you aiming to achieve this year? What additional value will you bring to your capital project organization? What new initiatives should you be considering? What will you promote? What change will you drive?

Goal-setting is hard, so we’ve come up with four winning resolutions for 2020. No matter where you’re at in your career or what challenges your organization is facing, any one of these four resolutions will meaningfully move the needle in the year ahead.


Complete A Comprehensive Gap Analysis

Embarking on a journey toward improved predictability without a gap analysis is like starting on a trip around the world without knowing what continent you’re on. Every capital project organization is different: our histories and corporate cultures are unique, we use a variety of tools, and the problems we face vary dramatically based on location and project type. Your roadmap to change will be different from everyone else’s. When it comes to transformation, one size does not fit all.

This is why it’s imperative to begin any improvement project with a comprehensive gap analysis. Understanding the unique challenges that your organization is facing will help you identify the high-leverage opportunities that will have the most positive impact on your operation as a whole. If you haven’t done a gap analysis, this is the place to start.



Commit To Sharpening The Saw

The bestselling management author Stephen R. Covey famously encouraged his readers to take time out to “sharpen the saw,” that is, to seek continuous improvement in business and life. “Renewal is the principle — and the process — that empowers us to move on an upward spiral of growth and change, of continuous improvement,” Covey said. When was the last time you have sharpened your saw? Have you been too busy sawing to make it a priority?

January is the perfect time to explore new industry trends, identify those that will best serve you and your organization, and commit to mastering them over the course of the coming year. Perhaps you’ve identified an educational gap that needs filling, maybe you need to embark on a new initiative, or perhaps you would benefit from taking on a new role. Expose yourself and your team to fresh ideas and innovative practices, and enjoy the benefits of a sharper saw all year long.

Renewal is the principle - and the process - that empowers us to move on an upward spiral of growth and change, of continuous improvement.



Plan To Attend One Conference In 2020

If you’re an executive or capital project manager, chances are you get invited to more events than you could possibly attend. The overwhelming number of conferences and training opportunities on offer can be overwhelming. You don’t want to miss out on valuable opportunities to stay up to date, learn new skills and build your network, but how do you decide which event to attend?

The key is to consider each option in light of your personal and organizational goals. Ask yourself: “Will this conference or training help me advance the strategic goals I’ve set for 2020? Whether you’ve decided to embark on a digital transformation, to introduce Advanced Work Packaging or upgrade your company’s capital project management capabilities, there is an event that will help you move toward your goals. Register and book your flights in January, and you’re far more likely to make it a priority when the time comes.


Make 2020 The Year You Master Change Management

If you only learn one new thing in 2020, make it about organizational change management. The fourth industrial revolution is upon us, and change will continue to rock the capital projects industry for the foreseeable future. The leaders and organizations that can manage continuous change will be the ones who thrive in the decade ahead. Those that cannot change will die.

In a perfect world, you would embark on formal change management training. The reality for most, however, is that change management will be learned on the job. You can improve your skillset by reading books, articles and case studies that explore how change happens, how to inspire predictability in times of change, and how to get ahead of change-related conflict in your teams. These skills are still relatively rare in capital project management, and acquiring them now will set both you and your organization apart from the competition.

If you’re interested in customized individual or group training opportunities in 2020, Concord® is standing by to help. Click here to contact us.

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