Cut Your Losses Without Losing Face

Decisiveness and persistence can be real assets but they can come at a cost. For example, let’s say you’ve plotted out a course for the development of a project and a third of the way into it, you discover another path.

You’ve already invested your organization’s time, talent, and treasure into this specific course of action. As a matter of fact, you were the one who first argued for this particular methodology. But the more you look into it, the more you’re convinced that this new way is the better way.

You can cut your losses without ruining your reputation by taking a few simple steps. First, lay a foundation of flexibility before the start of your project by listening to the views of others and acquiescing when appropriate. Then, build evaluation and mid-course correction into your project’s timeline, making discovery and change a part of the plan. Also, use progress reports to communicate both the good and the bad. Finally, remember that it’s not about you. It’s about completing the project in the most value-producing and cost-effective way, while achieving the greatest results.