Download, customize, and translate hundreds of business templates for free
The resource "How Will You Measure Your Life" has influenced corporate strategies by introducing the concept of Discovery Driven Planning. This approach encourages companies to test their initial projections before making massive investments. It involves compiling a list of assumptions and ranking them in order of importance and uncertainty. The team is then tasked with finding cost-effective ways to quickly validate these critical assumptions. This method helps organizations avoid costly mistakes and ensures that their strategies are based on valid assumptions.
Asked on the following book summary:
Management theories not only can be applied to our careers, but also personal lives. Think of them as a resource allocation problem. You have limited...
Go to dashboard to download stunning templates
Download
Question was asked on:
Companies invest massive amounts of capital based on initial projections but often don't test whether the initial projections are accurate. Only when the investments are made and the rubber hits the road does the organization realize which assumptions are valid and which ones are mistaken. To avoid this situation, Ian MacMillan and Rita McGrath propose a Discovery Driven Planning approach. Project teams compile a list of assumptions and rank them in order of highest importance and least certainty. Then the team is asked to find cheap ways to quickly validate critical assumptions.
Questions and answers
Ask another question
Need a budget the whole family can stick to? Use the fully customizable Family Budget Planner to set an annual savings plan and track yearly transactions against it. A summary dashboard determines if spending habits are on track or off track to meet the annual goal year-to-date, and by how much. A monthly time series tracks net savings against planned savings month by month. And pie charts track expenses by categories, family member, and nice to have or must have. With all the tools to assess spending month by month, the whole family can learn how to budget according to a plan and reach it.
Need financial security? Our Personal Savings Calculator template is a practical, user-friendly tool designed to help you manage your finances and work towards your savings goals. Download this template, available in Microsoft Excel and Google Sheets, and set yourself on the path to financial security.
Uncertain about your financial security in retirement? To secure peace of mind in your golden years, you can download and customize this Personal Retirement Planner Template right now for both Microsoft Excel and Google Sheets.
What can you do to take up habits that actually stick? Gamify your habits with custom reward amounts for each habit completed, and track progress from month to month or year to date for any year between 2023 and 2033. Supports 400 daily, weekly, and monthly habits across multiple habit types.