Emotional Intelligence Can Be Your Project's Most Critical Success Factor
When a high-profile project fails, news articles are quick to publicize what went wrong, but few care to explain why these projects failed.
Over the past 20 years, organizations such as the Standish Group have catalogued a wealth of information about the causes of project failure as well as identifying success factors. In the last few years, a new success factor has emerged: emotional maturity or or emotional intelligence (EQ).
According to Daniel Goleman, the author of Emotional Intelligence, emotional intelligence is made up of five key components: self-awareness, self-regulation, motivation, empathy and social skills.
When EQ components are evident, a project team will act with a high emotional bank account, the buffer or shield that can protect a team and support project success on a high-risk, high-engagement project. An emotional bank account is a Stephen Covey metaphor for the amount of trust perceived in a relationship.
With a well-funded account balance, project team members feel secure in imagining and executing creative paths to success and issues that arise are remedied efficiently and maturely. Research shows that a more cohesive, high-performing team produces better results.
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