"Festina Lente" vs "Time is Money"

Success Problem

Inflated or fake project´s ROIs (Return on Investment) can finally lead to inflated corporation´s ROCEs (Return on Capital Emloyed) and to the red ink bottom lines. Too many inflated corporation´s ROCEs finally can succesfully pin down to the touch pad the Adam Smith´s unvisibe hand by well known Quantitative Easing visible hand. Such devil race can usually bring well known market and monetary bubbles which historicaly represents a full manifestation of global financial crisis. Above mentioned two wisdoms or rather approaches, are famous quotes of two wise men. The “Festina Lente - Make haste slowly“ quoted by Octavianus Augustus, Roman Emperor and the „Time is Money“ quoted by Benjamin Franklin, US President. Two wisdoms seems to stay in oposition one to another. But are they really? And even more important question, what are their implications to the global financial crisis?


Looking to the history, even not so far, we can recognize economical categories called as a market or economical bubbles. Using Project Management terminology, also an economical discipline, one´s could find out, the bubbles are a special projects/innovations or to be accurate a faking or fake innovation projects. In time of a phenomenon called Quantitative Easing, an overpressure of money creates environment of very cheap capital expenditure programmes and portfolio projects. What would never got through a fesibility study review, now in time of a central banks negative discounts, almost everything is possible. Paramount is not a business/project itself but demand for money, stocks and derrivates (e.g. 2004 Enron scandale or 2021 PEPP antiinflation interventions). Such legacy also can force corporations and their managers to the technical or even to the economical and strategical fake innovation programmes/projects.


Perhaps it is a millenium call for a profesional project managers to heal the illness of nowadays oveheating financial and economical mechanism. Technically speaking, to decrease delta T between an inlet and outlet of colling loop, fresh watter/coolant addition is necessary. It is impossible to cool down the system adding larger and larger amounts of warm watter represented by the fake incomes of the fake programmes/projects. One of applicable project management tool, better to say, strategical tool or weapon developed in 80´s by CII Institute, University of Texas Austin is called PDS FEL (https://en.wikipedia.org/wiki/Front-end_loading). PDS stands for Project Delivery System and represents comprehensive organization context to deliver a project/programme as a product. FEL means Front End Loading, an equivalent to FEED or PPP, a palette of best practices tools and techniqes dedicated for succesfull project inititation and project planning phases. Special best/value improving practices were designed/collected via an extensive study done on more than 400 miscelaneous sectors projects. PDS FEL clearly distinct the Initiation/Planning from Execution phases of project/programme. PDS FEL emphasizes, to smartly employ both approaches, the “Festina Lente“ and the “Time is Money“ with balancing between two major project life cycle phases, the Initiation-Planning phase and Execution-Implementation phase of project. While in the execution phase of project, when a “recipe“ is ready, prevails the “Time is Money“ approach, contrary in project/programme initiation and feasibility study phases, when the “recipe“ is only a collection of pros and cons and knowns and unknowns, prevails the “Festina Lente“ approach. Application of the FEL best pracitces requires a reasonable time which cannot be outweighted by a equivalent money lost. The CII study proves 25USD return from each 1USD invested into the comprehensive FEL project preparation phase. The project/programme initiation and preparation phase is the timeframe when a change/revision of any disclosed incompliance/misuse to the corporation strategy, business case or KPI costs a negligible money in comparison of disclosure/repair the same incompliance/failure in project phase of erection or commissioning.



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