Perfectionism and Business

What an odd combination! It is the feeling when a project is not “perfectly” complete but there is a need to launch. Businesses always struggle with finding the optimal threshold between spending and results. Many surveys conclude that 50% to 65% of IT projects fail to deliver on scope. Management consulting projects with intangible results could have a higher failure rate. So how do you decide when it is good enough?

An up-to-80% solution leads to high return on spending. In this case, work performed is necessary and sufficient to get the expected results. On the other hand, an over-80% solution leads to diminishing returns on spending. This is when the work performed often creates complexity and reduces flexibility.

80% solutions are specially adapted to fast changing markets, as they provide flexibility and help optimize the balance between labor and systems. By addressing the remaining 20% through skilled and flexible employees, a business can adapt quickly to any change in market requirements. Selective use of automation reduces technology costs, eliminates over-design, and provides a motivating work environment.