The art and science behind commitments and managing expectations has always been a critical skill set for top executives and entrepreneurs to master. In fact, understanding how to get off the right side of the expectation curve can often be the difference between average performers and superstars. Proof of this is the fact that the consulting industry has focused on the importance of this topic, thus evolving into an emerging discipline known as “Promise Management.” In this blog post, I will discuss the value of promise management as a discipline.
Nothing builds trust and trust like keeping promises made and, likewise, few things erode trust and credibility like unfulfilled commitments. In a previous post titled: “Follow Up”, I discussed the importance of saying what you want to say, that is, 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 expectation gap. Combine art and science and you have the framework for what is becoming the differentiator in performance-based decisions for the 21st century.
Conflicts, disagreements, disputes, and litigation are often born out of gaps in expectations. Expectations cut both ways … Keeping what you perceive as your end of the deal is only half the equation, as what you believe only matters if it is 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 the deliverable that did not meet expectations, while the producer of said work product thought it exceeded all expectations.
Expectations exist throughout the entire value chain and all stakeholders need and deserve to have their expectations managed and met. Whether it is managing customer, shareholder, or analyst expectations, or the reverse of employees dealing with executive expectations, it is the ability to excel at making decisions based on managing expectations which creates high performing organizations.
Promises that are made based on sound reasoning and underlying business logic that are consistently upheld will help build a strong brand that attracts loyal customers and talented employees. The following three practices will help create an organization that lives up to its commitments:
1. Collaborate early and oftenMaking decisions in a vacuum or without all the facts will put you in a deficit from the start. At best, it is extremely difficult to manage expectations and meet commitments if you don’t have clear visibility into what you want or need. Before making promises or commitments, collaborate 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 commitments 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 your review and comments. Whenever possible, resist making agreements, proposals, or other commitments until you are aligned with expectations and key results.
3. Manage projects similar to those promisedBuild a culture that breaks down all commitments into deliverables, benchmarks, and deadlines. Allocate resources, budget, and staff while managing engagement within a framework of measured responsibility. 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 promise management principles will lead to certainty of execution that should translate into one of your company’s greatest competitive advantages.