Implement Big Rocks

Implement Big Rocks

Some clients scramble at the end of each quarter to implement their Strategic Projects (aka Big Rocks). Here is the framework I use to help you accelerate strategy execution. 

First, let’s set the scene. 

Between Annual High-Level Strategic Planning sessions, we use Quarterly Strategic Review (QSR) sessions to evaluate how well you’re executing your strategy, make course corrections, and choose our priorities each quarter.

These quarterly reviews are critical because they help you stay focused but flexible. It’s important to do them every quarter, no matter what. And it’s important to do them rigorously and well. 

I use this battle-tested agenda during the quarterly planning sessions:

Past (After Action Review):  

  • Key achievements. Mistakes & Lessons. Core Values celebrations & shortfalls
  • Review and grade the execution of Strategic Projects (Big Rocks) from last quarter
  • Review Metrics (KPI) trends from last quarter

Future: 

  • BHAG (Long-Term Vision) progress? Still the right goal?
  • Long-term (3 to 5 year) Strategic Moves progress? Still the right moves? 

Present:

  • Update the SWOT Analysis to reflect the changing reality
  • Confirm & refine Annual Initiatives / Milestones (to be achieved by the end of the year)
  • Choose Strategic Projects & Metric(s) to focus on this quarter (aka your “Big Rocks”)

OK, so we leave the Quarterly Strategic Review aligned and focused. How should we optimize our time over the next 12 weeks? Here’s an approach many clients find useful:

Week 1. 

Each Strategic Project owner conducts preliminary research, ideally on a “reference class” of similar projects, to ground your baseline assumptions with the real-world experience of companies that tried something similar.

For example, if you are implementing new ERP software, conduct research on the average time and cost for a reference class of ERP implementations performed by companies like yours, and what could be realistically achieved in the first 90-day phase.

The project team has 7 days to conduct preliminary research and then plan the scope of work for the project. 

I recommend a premortem exercise (to identify and mitigate the worst-case scenarios).

Develop a plan with a list of the key tasks or milestones “in scope” with conservative due dates, as well as a list of tasks that are “out of scope” for the quarter. Don’t be too granular, just list the major steps that (if completed this quarter) would constitute a 10/10 grade for strategy execution. 

And make sure you “deal with the monkey first” (identify the bottleneck and solve that problem first)

Week 2. 

At the 7-day mark, the Senior leadership team meets to review and sign off on the project scopes. The scope of work should not be too hard (setting ourselves up for failure), not too soft (sandbagging), but in the Goldilocks zone (robust, with just the right amount of stretch). 

After all, Business As Usual (BAU) still needs to happen, and metric targets need to be achieved every week, etc.  Big rocks happen “in parallel with”, not instead of BAU.

At this point, the leadership team typically shares the strategy for the quarter with the wider company.

Weeks 3-10.

The Project team front-loads the work and “sprints hard” to complete the agreed scope of work for the quarter by the end of week 10. 

To drive execution and go fast, I recommend a disciplined cadence of weekly project meetings using a standardized 7-point agenda and report your answers to these 7 questions back to the leadership team every week for all projects (so they are kept “informed” as per the RACI model):

1. Any changes to the scope? (Beware of scope creep)
2. On track to complete the project, as scoped, before the due date?
3. Key achievements since the last weekly meeting?
4. Any roadblocks?
5. Lessons learned?
6. Next steps?
7. What is “The One Thing”? (the most important task that can be completed in the coming week to move this project forward)

Weeks 11-12.

By now, you should have fully completed the scope of work for your project. Tidy up loose ends, perform an After Action Review to capture lessons learned, create any necessary documentation, and begin planning the next phase (where appropriate).

Summing Up.

Create a robust scope, get it reviewed and signed off by the leadership team, then front-load the work and “sprint hard” at the beginning of the quarter. Aim to finish each quarter with some breathing room to spare. 

You want your project team to experience the thrill of achievement. Pop the cork and celebrate! Take the team out for lunch! Catch your breath! You’ve earned it.

Then we regroup for the next Quarterly Strategic Review and prepare for the next sprint. On your marks …… get set ….. go!

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Until next time…
Stephen