Quick Win Projects
A quick-win project typically takes from 8-16 weeks to complete. Most cost less than $250,000 in total expense. An immediate value or benefit is realized from a successfully executed quick-win project. Business benefits ideally result in new revenue or eliminated cost. Sometimes a less tangible benefit may be the outcome - such as completing a pilot-test or preparing a team for a larger initiative.
Examples of quick win projects (increase revenue)
- Marketing plan. Re-allocate marketing dollars to where they yield business results.
- Customer segmentation. Identify highest value customers for additional revenue.
- Product category assessment. Identify cross-selling opportunities for slow movers.
Examples of quick win projects (decrease cost)
- Process improvement. Apply BPI to use fewer resources for the job at-hand.
- Organization design. Reallocate headcount to crucial roles.
- IV&V. Independently validate a program, or process to identify risk and waste.
Examples of quick win projects (preparation for big-project)
- Cultural assessment. Measure "readiness for change" identifying high risk areas.
- Project definition. Interview and document project scope for an important initiative.
- Findings report. Investigate broad opportunity areas. Rank for business value.
Important steps to undertake prior to launching a quick hit project include
- Define the business opportunity
- Define the scope
- Quanty the cost and benefits
- Clarify the objectives
Illustrative cost examples
- $70,000 ♦ 2 FTE's for 8 weeks at an average bill rate of $110/hour
- $180,000 ♦ 3 FTE's for 12 weeks at an average bill rate of $125/hour
- $420,000 ♦ 5 FTE's for 16 weeks at an average bill rate of $135/hour
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