As covered wagons made their way along the Oregon Trail headed for the gold fields of California or the lush timber of Oregon, whenever the wagon wheels started to squeak the wagon driver knew it was time to stop and grease the squeaking wheel—before it failed. Along the trail there wasn’t the equivalent of a Firestone or Goodyear to get a replacement. A failed wheel was inconvenient at best or a matter of life and death at worst.
Originally, I think this phrase was intended to imply that problems need to be fixed as soon as they are identified. But over the 100 plus years since the western migration, the term is often associated with "the person who complains the loudest gets what they want."
In my opinion, this is not the way to determine which projects get started and which ones don’t.
Portfolio management best practice suggests that potential projects should be evaluated on their merits and only those that align with corporate strategic and financial goals should be pursued. However, there are still a lot of organizations that determine which projects in the queue to work on with a "first come, first served" mentality, or even worse the, "whoever screams the loudest," method.
Using these decision-making methods might get projects out the door, but are they the right projects?
Regardless of the project management software you use, it’s not always the squeaking wheel that should get the grease. (Unless it’s squeaking because it provides the greatest value.)
Anyone doing project based work understands that there always seems to be more work to do than there is time or resources enough to do it. Effectively managing demand is critical for organizations who want to do more than merely keep people busy. Demand management is the process that allows organizations to collect ideas and make decisions based upon an individual projects merit.
I believe there are three things project management tools should support to make managing demand successful:
- The ability to gather and organize ideas throughout the organization
- Support for common analytical criteria such as risk, benefit, cost, and alignment
- Support for project life-cycle elements of request, review, approve, and plan
Effectively managing demand is a critical component to project management success and helps organizations focus on projects that will provide the most value and a competitive edge.
If you’d like to see what @task does to help organizations evaluate and prioritize projects, click HERE.
