- Effort involved a genuine uncertainty.
- Outcome was decisive because they planned carefully.
- Risks were higher to do nothing – or to conduct further analysis – that to act and fail.
- Risks were understood and, to the extent possible, mitigated.
- Costs were small.
- Costs were contained.
- Assumptions were documented in writing.
- Testing assumptions were planned.
- Commitments were scaled according to them increasing understanding.
- Success was defined and the opportunity looked significant.
The consideration of ‘rules of failure’ fits nicely with the conjoined concepts of Leadership and Management.
Leaders encourage risk taking; Managers set the rules for risk taking. Both together embrace failure most effectively.