Yesterday, I asked a colleague to define the “R” in the acronym SMART. He said “R” stands for risky. I am almost positive that last year he described the “R” as standing for realistic or reachable. I think this is a reflection of the fine balance between minimizing risk and setting challenging goals.

We can use the building of the Burj Khalifa tower in Dubai as an example. Upon completion, the tower measured 2,716.5 feet. Yet, according to ABC News, “The official height had been increased more than once during construction, which began in September 2004, and the developers were silent until the end about how tall it would be.”

Thus, we may be safe to assume that the goal for the final height for the building was re-evaluated as construction progressed. Can we draw a parallel between this and our own goal setting? Certainly we may not always be able to predict all the factors that make a project successful when it first begins.

Setting final goals too early in a project can affect the outcome. In the case of the tower, over-estimation may have lead to safety issues or failure in the public eye, while under-estimation may have meant the builders did not build as grand a tower as possible. 

Similarly, incremental goals that are re-evaluated frequently could be critical to the success of our performance management processes.

References:

Setrakian, Lara, Rich McHugh and Lee Ferran. “Dubai Opens World's Tallest Building With Fireworks Spectacular.” ABC Good Morning America [http://abcnews.go.com]. Jan. 4, 2010.