The art and science behind making commitments and managing expectations has always been a fundamental skill set for senior executives and entrepreneurs to master. In fact, understanding how to come out on the right side of the expectations curve can often be the difference between average performers and superstars. This is evidenced by the fact that the consulting industry has focused on the importance of this topic in such a way that it has become an emerging discipline known as “Promise Management”. In this blog post, I’ll explore the value of promise management as a discipline.
Nothing builds trust and builds a bond of trust like keeping promises made, and similarly, few things erode trust and credibility like broken commitments. In a previous post titled: “Follow Up” I discussed the importance of saying what you mean, feeling what you say, and doing what you say you will do. The science of promise management systematically connects what is said with what is done. The art of promise management is closing, or better yet, closing the expectations gap. Combine the art and science and you have the framework for what is becoming the differentiator in performance-based decision making for the 21st century.
Conflicts, disagreements, disputes, and litigation often stem from expectation gaps. Expectations go both ways… Keeping what you perceive to be your part of the deal is only half the equation, as what you think only matters if it’s aligned with the other party’s understanding. We’ve all found ourselves in the unenviable position of assigning a work product only to end up with a result that falls well below expectations, while the producer of said work product thinks it exceeded all expectations.
Expectations exist throughout the entire value chain and each stakeholder needs and serves to have their expectations managed and met. Whether it’s managing customer expectations, shareholder or analyst expectations, or the opposite of employees having to deal with executive expectations, it’s the ability to excel at management-based decision making. expectations that create high performing organizations.
Promises made based on sound reasoning and the underlying business logic that are consistently delivered will help create a strong brand that attracts loyal customers and talented employees. The following three practices will help create an organization that delivers on its commitments:
1. Collaborate early and often: Making decisions in a vacuum or without all the facts will put you in a deficit from the start. At the best of times, it is extremely difficult to manage expectations and deliver on commitments without clear visibility into what is wanted or needed. Before making promises or commitments, work with all stakeholders to ensure expectations are understood.
2. Resist making verbal commitments: Most misunderstandings occur as a result of misinterpretation of oral communications. Most broken engagements are the result of impulsive verbal promises made before all the details were worked out. Once you have gained clarity as to the perceived need to be met, put your understanding of the deliverables in writing outlining the key business points and circulate the document for review and comment. Whenever possible, hold off on making agreements, proposals, or other commitments until you’re aligned with expectations and key deliverables.
3. Manage promises as projects: Create a culture that breaks down all commitments made into deliverables, benchmarks, and timelines. Allocate resources, budget, and staff while managing engagement within a measured accountability framework. Treating all commitments and promises as formal projects will help manage performance risk and also create continuity in process and delivery.
Performance-based decision making based on the principles of promise management will lead to certainty of execution that should translate into one of your company’s greatest competitive advantages.