Paul Martin Commentary
Saskatchewan is in the midst of an investment boom. We have big mines being built, a couple hospitals, libraries, a major swimming complex, a new data centre on the horizon and nuclear power. The provincial finance minister says the province has more than $60 billion worth of projects on the drawing board or underway.
But sometimes these big projects have cost over runs raising the question: how do we prevent that?
A book from a few years ago may help. Called How Big Things Get Done, it chronicles big budgeting failures over the past century, prompting its authors to develop a checklist of things to watch for while writing for the online publication Strategy + Business.
First: know where you’re going. Be sure your solution is actually the answer for the problem you’re trying to solve.
Two: Plan with vigor and get the right expertise. Remember, the Olympics move but the experts don’t always follow.
Three: Follow the Lego principle – break things into small pieces.
And finally, beware of sunk costs…getting in so far, you have to keep going.
