Project Analysis Equation

Brainstorm: Robbie Schingler, Chris Boshuizen, Jessy Cowan-Sharp.

July 21, 2007.  

 

We decided to have a brainstorm to assess the parameters of the project analysis

system, and in particular if there was anything missing or could be refined.

 

This is the original equation we were working with:

 

 

 

Weighting = (deltaG * I * P * T * A) / R

 

 

where:

 

 

 

delG is the contribution the project will make to your end goals

(previously determined/thought out by you)

I is your interest in doing it (excitement, passion for the project,

etc.) [0,1]

P is the project's probability of success. [0,1]

T is the timeliness of the project (is society ready for it? do

external factors suggest this is the right time to be undertaking this

project?). [0,1]

A is your comparative (competitive?) advantage (ie your incremental

contribution. will it be done without you? do you have specific skills

that are uniquely relevant to the project?). [0,1]

R is the resources needed for the project (time/money). (typically,

units of years).

 

the main challenge in getting a set of factors which cover all

considerations in taking on a project, and ensuring they are

independent from one another (ie not functions of each other, at least

not without accounting for that), and further, it is important to chose enough

parameters such that it teases out the thinking process and challenges our

biases.

 

 

here are the thoughts we had about a couple of additional parameters

to add to the project analysis equation:

 

 

 

1. + global weighting factor

 

projects from the project analysis system will eventually be connected

to a global strategy for creating change, where individual projects

can be linked to specific elements of the strategy.  the global

weighting factor will leave room for the strategy to create

priorities, and for those priorities to be reflected in projects.

 

 

 

2. + enabling parameter

 

sometimes we take on a project because it will be a good experience,

we will learn a lot from it, meet the right people, etc. or,

similarly, it's important to consider how your project impacts other

projects. is it foundational to something that needs to happen in the

future? is another project underway which would fail without this one?

both of these can be considered under this 'enabling' factor. how

would this project enable you to acquire skills, contacts, or

experience which you didnt have before, which in turn enables

other/future projects, and/or does this project directly enable

another project(s).

 

this parameter is also a first attempt to consider how all these projects

interact with one another and how that interaction consequently impacts the

parameter values. the ability to link projects to strategy nodes (eventually),

and to reflect if a project depends on, supports, or is complimentary to

another project, will be another attempt at addressing what is currently an

inadequacy in the system.

 

 

 

3. + social externality (0=worse; 1=best)

 

how does the project affect its external environment? we thought this should be

considered from both a social and an environmental persepctive (ie physical

resource-- could be people, or could be gas, or could be large construction

projects, etc.).  

 

i dont like the fact that in society today we call these things "externalities"

when they are clearly not. but for now the term, i think, is clear from a

practical stance.

 

 

 

4. + Resources factor

split into two: time and money

 

Note also : Will's current equation has an 'a' factor (= ability to help) which

we didnt have. this is basically skills, which we said was a part of the capital-A or

"comparative advantage" factor, and which is equivalent to will's 'd'

factor (different of participation). so essentially we combined d and a into A, but also

added the En or enabling factor.  

 

 

 

 

Final equation: W = (dG * I * P * T * A * En * Ex) / ($ * HH)

 

 

 

(note: this is the equation being used for the first version of the project analysis drupal module). 

 

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