7 Steps To Master Gold Plating In Project Management

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The art of project management has evolved significantly over the years, with various techniques and methodologies emerging to help professionals deliver projects efficiently and effectively. One such technique is gold plating, a strategy that involves adding extra features or functionality to a project beyond its initial scope. In this article, we will delve into the concept of gold plating, its benefits and drawbacks, and provide a step-by-step guide on how to master gold plating in project management.

What is Gold Plating?

Gold plating is a project management technique where a team delivers more than what was originally agreed upon in the project scope. This can include adding extra features, improving the quality of deliverables, or enhancing the overall user experience. Gold plating can be a valuable strategy for building trust with stakeholders, improving customer satisfaction, and increasing the overall value of the project. However, it can also lead to scope creep, cost overruns, and delays if not managed properly.

Benefits of Gold Plating

When executed correctly, gold plating can bring numerous benefits to a project. Some of the advantages of gold plating include:

• Increased Customer Satisfaction: Delivering more than expected can lead to increased customer satisfaction and loyalty.
• Improved Trust: Gold plating can help build trust with stakeholders, which can lead to future business opportunities.
• Competitive Advantage: Adding extra features or functionality can give a project a competitive edge in the market.
• Enhanced Team Morale: Delivering high-quality work can boost team morale and motivation.

Drawbacks of Gold Plating

While gold plating can be beneficial, it also has some drawbacks that need to be considered:

• Scope Creep: Gold plating can lead to scope creep, where the project scope expands beyond its original boundaries.
• Cost Overruns: Adding extra features or functionality can increase costs, which may not be accounted for in the original budget.
• Delays: Gold plating can lead to delays, as the team may need to allocate additional time and resources to deliver the extra work.

7 Steps to Master Gold Plating in Project Management

To master gold plating in project management, follow these seven steps:

Step 1: Understand the Project Scope

Before attempting to gold plate a project, it's essential to understand the original project scope. Review the project charter, scope statement, and stakeholder expectations to ensure you have a clear understanding of what needs to be delivered.

Step 2: Identify Opportunities for Gold Plating

Identify areas where you can add extra value to the project without compromising the original scope. This could include adding new features, improving the user experience, or enhancing the overall quality of the deliverables.

Step 3: Assess the Risks and Benefits

Assess the risks and benefits of gold plating the project. Consider the potential impact on the project timeline, budget, and resources. Weigh the benefits of delivering extra value against the potential risks of scope creep, cost overruns, and delays.

Step 4: Obtain Stakeholder Approval

Obtain approval from stakeholders before proceeding with gold plating the project. This ensures that everyone is on the same page and that the extra work is aligned with stakeholder expectations.

Step 5: Allocate Resources

Allocate resources to deliver the extra work. This may involve reallocating existing resources or bringing in additional team members. Ensure that the resources allocated are sufficient to deliver the extra work without compromising the original project scope.

Step 6: Monitor Progress

Monitor progress closely to ensure that the gold plating work is delivered on time and within budget. Regularly review the project schedule, budget, and resource allocation to ensure that everything is on track.

Step 7: Evaluate the Results

Evaluate the results of the gold plating effort to determine its effectiveness. Assess the impact on customer satisfaction, team morale, and the overall project outcome. Use this feedback to refine your gold plating strategy for future projects.

Best Practices for Gold Plating

To get the most out of gold plating, follow these best practices:

• Keep it Simple: Focus on adding simple, incremental value that doesn't compromise the original project scope.
• Communicate Clearly: Communicate clearly with stakeholders and team members about the gold plating effort.
• Set Boundaries: Set clear boundaries around what is included in the gold plating effort to avoid scope creep.
• Monitor Progress: Monitor progress closely to ensure that the gold plating work is delivered on time and within budget.

Common Mistakes to Avoid

When implementing gold plating, avoid the following common mistakes:

• Overcommitting: Avoid overcommitting resources or promising more than you can deliver.
• Scope Creep: Avoid scope creep by setting clear boundaries around what is included in the gold plating effort.
• Lack of Communication: Avoid a lack of communication by keeping stakeholders and team members informed about the gold plating effort.

Conclusion

Gold plating can be a valuable strategy for project managers looking to deliver high-quality projects that exceed stakeholder expectations. By following the seven steps outlined in this article and avoiding common mistakes, project managers can master gold plating and deliver projects that add significant value to their organizations.

We hope this article has provided you with a comprehensive understanding of gold plating in project management. If you have any questions or would like to share your experiences with gold plating, please leave a comment below.

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