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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