Plan for it
Define "success" (and "done", and...)
Define processes for obvious bad outcomes
Don't bother thinking of every edge case
Define a process for dealing with new cases
Decide how much failures is acceptable
Create only the bare minimum process
Step 3: Deal with it (the hard part)
Do not blame or be angry
Gather your team - discuss fixes as a group
Make a decision and delegate immediately
Communicate; take personal responsibility
Allow stakeholders to express anger to you
Do not allow the business to apportion blame* or dwell on the situation
Actionable Item
It is such a good topic. I should write one by myself as well.
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