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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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How Big Things Get Done summary
Bent Flyvbjerg
Dan Gardner
The Surprising Factors Behind Every Successful Project, from Home Renovations to Space Exploration
15 mins
Brief summary
How Big Things Get Done by Bent Flyvbjerg and Dan Gardner highlights the importance of leadership, collaboration, and careful planning in achieving successful projects and avoiding common pitfalls. It provides insightful case studies and actionable tips for project management.
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How Big Things Get Done
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Key idea 1 of 5
The iron law of megaprojects.
We’ve all been there – you’ve started a big project with high hopes in mind, just for it to end in failure. Perhaps you embarked on a home renovation project and ended up with an empty wallet and unfinished bathroom. Or you watched a friend take on a project that seemed simple, only to spiral out of control and end in disaster. Well, if this is the case, you are not alone. In fact, according to data from various fields and countries, the majority of big projects, whether they be government-funded or small home renovations, tend to go over budget and take longer than anticipated to complete.
This is where the iron law of megaprojects comes in. It explains that huge, complex endeavors like building a new airport or a high-speed rail line almost always go over budget, over schedule, or both. It turns out that only 8.5 percent of the 16,000 projects studied by the authors hit their targets for both cost and time. That's a staggering statistic!
Why is this the case? Because megaprojects rely on complex systems that are inherently difficult to predict and control. Unforeseen events, changes in requirements, and mismanagement can all contribute to delays and cost overruns. What’s more is that megaprojects often involve numerous stakeholders with varying interests – this can lead to disagreements and delays in decision-making.
Now, you might be thinking, "But I'm not a government official or corporate executive, so this doesn't apply to me." But that's where you're wrong. Even small projects, like that bathroom renovation, are susceptible to cost overruns and time delays. Why? Because almost everything we do these days is embedded in complex systems. From energy production and distribution to the spread of viruses, we are all part of complex systems that are prone to disruptions and delays.
For example, take a couple who, after buying a run-down house, get a builder to estimate the cost of a complete renovation. The builder quotes them $260,000, but 18 months later, the couple has already spent $1.3 million and the project is far from done. That's the kind of cost overrun that we would expect to find in a fat-tailed distribution, which is a fancy way of saying that extreme events are more common than we think.
And while big corporations and governments can just borrow more money or raise taxes to fund these overruns, most of us don't have that luxury. If a small business or individual gets caught in the fat tail of the distribution, they can be wiped out completely. That's why it's so important to take these risks seriously, no matter the size of the project.
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What is How Big Things Get Done about?
How Big Things Get Done (2023) explores what it takes to make large-scale projects work. It tackles tough questions like why so many big projects fail, and what makes the ones that succeed stand out from the rest. With real-life success stories as well as cautionary tales, its lessons can be applied to projects of any size, shape, or form.
How Big Things Get Done Review
How Big Things Get Done (2018) delves into the world of large-scale projects and uncovers the secrets behind their success or failure. Here are three reasons why this book is worth reading:
- By examining case studies and drawing on extensive research, the authors provide valuable insights into the complexities of project management and how to navigate them.
- It explores the human dynamics involved in bringing big projects to fruition, shedding light on the importance of leadership, coordination, and stakeholder engagement.
- The book's compelling narratives breathe life into the subject matter, making it an engaging and thought-provoking read, ensuring that it never becomes tedious or dull.
Who should read How Big Things Get Done?
- Project managers looking to hone in their skills
- Anyone about to embark on a new project or start a new business
- Fans of Elon Musk wanting to learn how he works his magic
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How Big Things Get Done FAQs
What is the main message of How Big Things Get Done?
The main message of How Big Things Get Done is that understanding power dynamics is essential to achieving successful outcomes.
How long does it take to read How Big Things Get Done?
The reading time for How Big Things Get Done may vary, but it can typically be read in a few hours. The Blinkist summary can be read in just 15 minutes.
Is How Big Things Get Done a good book? Is it worth reading?
How Big Things Get Done is worth reading as it sheds light on the intricacies of decision-making in large-scale projects. It offers valuable insights for anyone interested in organizational dynamics.
Who is the author of How Big Things Get Done?
Bent Flyvbjerg and Dan Gardner are the authors of How Big Things Get Done.
What to read after How Big Things Get Done?
If you're wondering what to read next after How Big Things Get Done, here are some recommendations we suggest:
- Outliers by Malcolm Gladwell
- Buy Back Your Time by Dan Martell
- David and Goliath by Malcolm Gladwell
- The Tipping Point by Malcolm Gladwell
- Clockwork by Mike Michalowicz
- Made to Stick by Chip Heath and Dan Heath
- You Only Have to Be Right Once by Randall Lane
- The Goal by Eliyahu M. Goldratt and Jeff Cox
- Creativity, Inc. by Ed Catmull with Amy Wallace
- The Magic of Thinking Big by David J. Schwartz