Goal of a project is to complete a project, which usually translates into:
– minimizing the costs associated with the project,
– completing the project on time, and
– completing the project as described in the specifications.
But what is the real goal of the project?
We can classify project goals into 2 types:
(1) Projects that should complete by a given date, and
(2) Projects that when completed generate revenues. These should be completed as soon as possible.
The first type of project should be started as late as possible. We must be able to still guarantee delivery of the project by the desired date (this strategy saves money).
The second type of project should start as soon as possible. We must guarantee delivery of the project by the desired date (this strategy makes money).
The second type of project is much more commonplace, yet it is often treated as if it were the first type.
TLDR: Recognize the differences between due-date projects and money-making projects.