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Lindsy principle in project and risk management
The idea is simple yet powerful: 𝐭𝐡𝐞 𝐥𝐨𝐧𝐠𝐞𝐫 𝐬𝐨𝐦𝐞𝐭𝐡𝐢𝐧𝐠 𝐡𝐚𝐬 𝐛𝐞𝐞𝐧 𝐚𝐫𝐨𝐮𝐧𝐝, 𝐭𝐡𝐞 𝐦𝐨𝐫𝐞 𝐥𝐢𝐤𝐞𝐥𝐲 𝐢𝐭 𝐢𝐬 𝐭𝐨 𝐬𝐭𝐢𝐜𝐤 𝐚𝐫𝐨𝐮𝐧𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐟𝐮𝐭𝐮𝐫𝐞 (c)ProjectWorkLab.
✅ 𝗟𝗲𝗮𝗿𝗻 𝗳𝗿𝗼𝗺 𝗵𝗶𝘀𝘁𝗼𝗿𝘆: The longer something has been around, the more history it has. And history is a goldmine for learning about risks and how to avoid them. By looking back at past projects and initiatives, project managers can spot potential landmines and build better contingency plans to reduce uncertainty.
✅ 𝗣𝗿𝗶𝗼𝗿𝗶𝘁𝗶𝘇𝗲 𝘀𝗶𝗺𝗽𝗹𝗶𝗰𝗶𝘁𝘆: The “Lindy” principle suggests that simple things are more likely to survive over time than complex ones. So, project managers should keep things simple and streamlined, focusing on the essentials and avoiding unnecessary complexity. This can help reduce the risk of failure and uncertainty associated with overly complicated systems and processes.
✅ 𝗘𝗺𝗯𝗿𝗮𝗰𝗲 𝗲𝘀𝘁𝗮𝗯𝗹𝗶𝘀𝗵𝗲𝗱 𝗺𝗲𝘁𝗵𝗼𝗱𝘀 𝗮𝗻𝗱 𝗽𝗿𝗮𝗰𝘁𝗶𝗰𝗲𝘀:Tried-and-true methods and practices are more likely to stick around than untested and unproven approaches. By using established project management methodologies and practices, project managers can reduce the risk of failure and uncertainty and increase the likelihood of success.
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