DICE Framework

In this episode, Ricardo talks about the DICE Framework, developed by Boston Consulting Group members to evaluate the chances of success of your project or of your chance management initiative. The factors on the acronym DICE: D – Duration, I – Integrity, C – Commitment and E – Effort receive a score from 1 to 4 and after a simple calculation, the result will help you compare if your project is more likely to be successful or to fail.

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Episode transcript

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Hello, everyone. Welcome to the five minutes PM. The guest. Do they like to talk to you about the DICE Framework DICE D I C he does. This is a framework to help you to understand the chances of success of your project or on or off your change management initiative. And this was developed by the Boston consulting group by a pre professionals that have the strong connections with BCG, and they try it. One of the lice for parameters.

D the four Duration I for Integrity C Commitment E at Fort to understand a combination of this four factors in the area. No, they can estimate the success rate of a project. So let's go to each of them. The first one D The stands for Duration. If the duration is less than two months, the score is one. If it's between two or three for months, the score is between four and eight months, three and above eight months, the score is four Integrity.

What is Integrity? Is there an ability of the team, especially the time the project leader to perfor, we are talking about the solid, very strong, very competent project manager. Then the score is what if it's a good project manager? The score is to, if it's an average score is three. And if you feel that way, there is a, a weak project manager or a very weak team. The score is for did you see that they score ghost app moving towards the bad side?

So a good DICE means a low number, not a high number. Okay. No, let's go to Commitment Commitment is divided the C in two or three components. C one and C to C. One is the Commitment of senior management. Or if there is a clear, strong communication on the need, it score squat. If you see a desire of success scores to if it's neutral, it doesn't matter too much. Three, if they are reluctant or resistant this course for the commitment of our other stake holders, if they are eager for the project, those school are affected by the project.

The score is one. If there is a willing than the scores to, if they're a little bit resistant or reluctant, the score is three. And if they are opponents or a strong, relevant, the score is four. The last but not least is a fault. If that makes sense, or would that changed management initiative requires less than 10% of additional Effort. This call is one. If it's between 10 and 20, the score is two 20 and 40.

The score is three and above 40. Then the score is four. So did you see So all this, the ratings they go from one up to four. And what is the final one? The formula for the DICE it's deep, blessed to times I plus two times C one plus C plus E let me repeat Duration plus two times Integrity plus two times Commitment of senior management plus Commitment of the other stakeholders, plus the Fort, and this will bring to us in a number.

If this number is between seven and 14, we are our own, the green zone means it's this. Oh, very likely that will succeed on this project. If the number is between 14 and 17, we started to become more concerned because it's very hard to predict if this project we'll be successful or not. And if this final number is above 70 the team, Oh, then you leave to be very concerned because it's the red zone.

There is a very strong chance that this project will not succeed seed. So this is a very simple and they tested is in hundreds of projects. So it's a very solid art to go on that, that you can see on Harvard business review. The name of the article is the hard side of change management. It's a 2005 article. So I think you should take a look on that. And this for me is a great indicator. When you were talking about portfolio management to address and link your strategy to the execution and understand which means projects have a higher chance to succeed.

So in a very, very simple mathematical way. So think about that. Read more about this DICE Framework and I hope you find this Podcast useful for you. Okay. See you next week with another advisers on project management in another five minutes, BM Podcast.

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