Warning: This is NOT an accurate representation of how the project will unfold.
October 17th, 2003 by Hal
I received the following note in the discussion group Mastering Project Work [subscribe]. The note posting was written by Amy Schwab partner of David Schmaltz, author of the book The Blind Men and the Elephant: Mastering Project Work. Here's the posting in the entirety:
(True North pgs, Inc.) has long proposed getting a stamp for every documented plan or schedule that says "Warning: This is NOT an accurate representation of how the project will unfold." Every really experienced project manager knows this — yet somewhere in the chain of communication, this information gets lost — leaving managers and executives expecting a level of predictability and certainty that is unwarranted.
I was reminded of the 'forward looking statement' disclaimer that public companies must include in every filing or report to regulators or the public. That disclaimer makes it very clear that the report contains projections which are subject to risk and protects it from the inevitability that the projections will not prove out in reality. I wonder why we don't include such a disclaimer prominently on all of our project plans — it would, in fact, provide managers and executives with the full disclosure that they need in order to set their own expectations, and those of the board, shareholders, and regulators.
Here is an example of a forward looking statement disclaimer I recently ran across in a news release about a company's new product offering. Imagine the slight change required to include this for your project — and how it would more appropriately communicate the uncertainties included in that project:
Certain statements made by the company in this release may constitute forward-looking statements. In light of the risks and uncertainties inherent in forward-looking statements, many of which are beyond our control, actual results may differ materially from those projected in the forward-looking statements. Forward-looking statements should not be regarded as a representation that anticipated events will occur or that expected objectives will be achieved. These forward-looking statements involve risks and uncertainties including, but not limited to, the following: our ability to successfully market a new product in the current economic environment; changes in the demand for, pricing of, or supply of our products; competitive considerations, including possible actions by competitors and an increase in competition for our products; general economic conditions, including changing interest rates, rates of inflation and the performance of the financial markets; and various other factors. We undertake no obligation to release publicly the results of any future revisions we may make to forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Amy
Visit Amy and David at True North pgs, Inc.,
project guidance strategies. Join the discussion on Mastering Project Work [subscribe].
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