In our personal life we undergo different stages which we need to make decision. It can be regarding our choice which college or university we would like to enroll an what degree we have to pursue; giving up and job locally for a more lucrative career abroad; planning to get married and settle down; buy a house or car on an installment…all of these need proper planning.
On the professional and business side, planning plays an important role in the success and failure in achieving the set goals of an individual or of that organization. In the practice of profession, a person dreaming or better said “aspiring” to be one of the best in his/her field must have plans on how, when and what he/she would do to achieve that. Plans should not remain on a sheet of paper or sitting where you have decided to park or file it. It was drawn with a purpose to guide how a goal, project or event be managed & executed. Plan may not be perfectly or exactly be followed, there are times that you need to change, add or delete base on the situation. But then again it is also called as back-up or alternative plan, so you can’t really get away with it.
I remember an incident when I was working with a company dealing with the manufacturing, Installation and trading of Modular furniture, the business was doing fine, we have big customers, our operations and production departments have to work overtime to fulfill the contracts and serve our customers. When business is doing fine it was a natural instinct for the investors and the management to think of further development and expansion. Well ours was not an exemption.
The stockholders had a meeting and had a quorum to expand the business. And they decided to engage in vertical construction, a five story building. The CEO called a MANCOM meeting for us to draw a plan how the project will be handled. The operations team was given the task of drawing the plan, pert CPM, perspective, bill of materials, list of manpower required and other necessary documents for the construction proper. The Human resources department was forwarded the list with the qualifications of the manpower to be hired and we, in the accounting department were given the task of putting together the financial aspect of the project. In other words, a budget plan, cash flow and projected P&L.
Everything has been drawn and we were ready to start the project. Suddenly one of the managers suggested that instead of hiring somebody from the outside, we can pull out two or three of our supervisors to head or lead the task for the construction and some of our labors to cut on the high cost of hiring individuals who are trained for the job. Ok, they got what they want and we started the project and everything seems fine, we were on schedule. But in the midst of the project something went wrong, a portion of the floor on the second floor collapse and the head and his foreman could not explain what happened. Can we blame them? We are aware that they are lacking in experience and expertise to do the task.
The company instead of earning suffered a lost because of they have not followed the specifications on the requirements and qualifications required of the manpower for that specific task or project.
A very expensive lesson learned!