When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Monday, March 18, 2013

Lessons for the Obama administration: Doing More With Less

Maybe the US Government needs to hire McKinsey & Company, since the inept and incompetent Obama administration has shown it is unable to prioritize and otherwise successfully manage a 1-2% sequestration (has anyone in the Obama administration EVER run a business?). Want to know how competent leaders and managers successfully do more with less? Read the full article at the link below (excerpt follows):

Infrastructure productivity: How to save $1 trillion a year | McKinsey Global Institute | Urbanization | McKinsey & Company: " . . . These steps do not require reinventing the wheel. Eliminating waste, improving the selection of projects, streamlining their delivery, and other best-practice examples from around the world would make a decisive difference if scaled up globally. We have identified three broad types of moves that could help deliver savings:
1. Optimize project portfolios. One of the most powerful ways to reduce the overall cost of infrastructure is to avoid investing in projects that neither address clearly defined needs nor deliver sufficient benefits. Choosing the right combination of projects and eliminating wasteful ones could save $200 billion a year globally. Project owners must use precise selection criteria to ensure that proposed projects meet specific goals, develop sophisticated methods for determining costs and benefits, and evaluate and prioritize projects—in a transparent and fact-based way—by their potential effects on the entire network, instead of looking at individual projects in isolation.
2. Streamline delivery. This area presents an opportunity to save up to $400 billion annually and accelerate timelines. To streamline delivery, it will be necessary to speed up approval processes, invest heavily in the early stages of project planning and design, and structure contracts to encourage time and cost savings. Contracts can lead to costs savings by, for example, encouraging the application of lean manufacturing to construction and the adoption of advanced construction techniques such as prefabrication and modularization.
3. Make the most of existing infrastructure. . . . ."


The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects