Tools for Monday morning.

Checklist · The Heir’s Challenge, pp. 21–22

A Few Small Rhymes for Projects on Time

The rhyme Edgar uses to show the cousins where they went wrong. Poor poetic talent, they all agree; but he’s right. It is a complete checklist for kicking off a project and managing its economics.

Before any project gets under way,
write your concept down without delay.

Agree with clients and stakeholders on what matters and when,
so surprises and quarrels won't trip you up again.

Estimate every cost, the fixed ones and the rest,
Work out the revenues you can expect at best.

Weigh precisely what you have to make,
Based on the risks and the demand at stake.

Work out your margin with care and precision:
a simple subtraction, no complex division.
Take the cost of production from what you'll receive,
and you'll see where you stand quicker than you'd believe.

If the result is positive, the outlook is fine,
If it is negative, go back and redesign.

Analyse your data with method and care:
for every budget problem, a cure is out there.

Keep track of the cash flow from start to end,
logging every penny you earn and you spend.

If something doesn't add up along the way,
Don't panic, find a solution today.

Always work with colleagues and clients side by side:
That's the recipe for projects done with pride.

How to use it: before signing anything, check that you can answer every couplet. Written concept, agreed expectations, fixed and variable costs, likely revenues, margin, cash flow, plan B. (An English rendering of the Italian rhyme.)