One simple tool to have your projects to come in on time and under budget
As business owners, we want your ventures to be successful. But how do we plan for success? One
way is by conducting a “business premortem.” A premortem is a tool that allows you to anticipate
potential problems before they occur and proactively prepare for them. In this blog post, we will
discuss what a business premortem is and how it can help you reach your goals.
What is a Business Premortem?
A business premortem is an exercise in which you imagine that your project has failed and then try
to understand why the failure occurred. It helps you identify potential risks and develop strategies to
mitigate them before they become an issue. The goal of the premortem is not to predict the future;
rather, it's to use what-if thinking to assess possible risks and create plans of action that address
those risks ahead of time. This kind of proactive planning can save time and money down the line as
well as increase your chances of success.
Benefits of Conducting a Premortem
The biggest benefit of conducting a premortem is that it forces you to think about all the ways things
could go wrong instead of just focusing on all the ways things could go right. It also encourages
collaboration between team members, which helps ensure everyone has the same understanding
about potential risks and plans for addressing them. Lastly, it helps foster an environment where
people feel safe voicing their concerns early on so that any issues can be addressed before they
become major problems later on. What we get is greater profits on our projects, increased team
cohesion, projects brought in on time and under budgets.
What’s the Conclusion:
Conducting a business premortem can be an invaluable tool for us small business owners looking to
plan ahead and avoid costly mistakes in the future. By imaging what might happen if your project
fails, we can identify potential risks early on, develop strategies for addressing those risks, and
promote collaboration among team members. Doing so puts you in a much better position for
success! With careful planning and open dialogue between everyone involved, we can make sure
our businesses stay ahead of any potential pitfalls along the way. So why wait? Start planning today
with a business premortem!