Implementation Speed - Direct & Indirect Benefits

What do you do when you get one good idea? Sit on it & forget it or Implement it? If you look at the successful people near you or people who you see in news, you will see that they do not waste time in implementing what they like. They will just catch hold of the thing they like and implement it in their life or business. That is the reason someone said that if you are implementing what you preach others, you would be a more successful person. 

I have been reading many books. I have read some books on Business Leaders/Moguls in India - right from Ratan Tata, Rahul Bajaj, Aditya Birla & others who belonged to that group of people who have changed the landscape of India. I have also visited Jamnagar and the Reliance colony that is in Jamnagar. While there and also in papers, I read how Reliance is able to build such big projects without any delay. First they will list out what things are needed to complete the project. Once the steps are identified, they will give all the resources needed right at the start of the project. Mukesh Ambani had implemented many of the projects run by Sir Dhirubhai, before time. 

There are direct & indirect benefits that you get if you are completing the project before time. The direct benefit is of course that the project is complete and there are no cost overruns. The delay in projects are often accompanied by the cost overruns, which increase the budget or the cost of the project. The indirect benefit is that the plant can become operational on time and can immediately start production and hence the revenues. The delay in projects not only increases the cost overruns, but also delays the revenues which is not counted as the project is not complete. Say, if the project cost is 100, the delays make the cost to 120 or more and if there is revenue generation of, say 10 units per month, then this should be added to the cost of the project. This way, the actual overrun cost of the project will come. 

And if you consider all this, you will learn that the implementation speed of a person is critical importance.