The recipe for massive failure
Greg Balestrero, CEO of the Project Management Institute, started the special CEO track of idea labs at the Great Ideas Conference, framing the series around trust. Because of his association, he sees or hears about plenty of project failures. Massive failures. Ten billion dollar failures.
He reported that the reason those massive projects fail is that they lose their sponsorship. Whoever champions the idea moves on before seeing it through or perhaps is an expert at championing ideas, but not so hot with following through to the execution.
Either way, when the champion fails, trust takes a tumble and then the blame game starts. The catch is, it's not just true for massive failures. As Balestrero said, trust is established through action--and that's an everyday proposition.
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