The Incentive-Contract Alignment Network (I-CAN)
How do you align peoples motivations?
How many people participated in a Superbowl Pool, Fantasy Football or March Madness bracket? What if there was a tool that created the same level of interest in projects? The Incentive-Contract Network does this by giving both people on the project team and people affected by the project a stake in the projects success.
What is the Incentive Contract Network? The Incentive-Contract (I-Con) Network is a web-based tool, which allows people to read news about projects, buy and sell Incentive-Contracts and monitor the status of projects. An I-Con pays deliverable payments when deliverables are completed and pays the face value when the project succeeds. The I-Cons can be bought and sold by people working on the project, affected by the project in the organization or by system integrators and contractors. As they work to make the project succeed, their I-Cons pay off, aligning their motivations with the project’s goals.
How does the Incentive-Contract Network Work? The Incentive-Contract Network allows people to buy IIncentive-Contracts in a project. They pay a small amount up front to “buy-into” the project and then they are rewarded for working to make the project succeed. In a simple example, where the project is to server a candlelit dinner, people would buy Incentive-Contracts for $1 and then receive a $1 deliverable payment when the ingredients were purchased, $.50 when the table was laid, etc. The Incentive-Contracts could be bought or sold at any time during the project, reflecting what people thought about the likelihood of the project’s success.
The company benefits by seeing what people’s expectations are. By offering people the opportunity to buy and sell Incentive-Contracts, the company gets very clear signals about whether people really buy-into the project or not. If people lose faith in the project and sell their Incentive-Contract, the company gets an early signal.
The Incentive-Contract Network defines key project deliverables (Serving dinner) and milestones (Purchasing ingredients) and focuses people’s attention on achieving them. Along with clarifying the goals and motivating people to make the project succeed, the Incentive-Contract Network provides companies insight into how people think the project is going.
For more information, please see our Overview document.
How do you align peoples motivations?
How many people participated in a Superbowl Pool, Fantasy Football or March Madness bracket? What if there was a tool that created the same level of interest in projects? The Incentive-Contract Network does this by giving both people on the project team and people affected by the project a stake in the projects success.
What is the Incentive Contract Network? The Incentive-Contract (I-Con) Network is a web-based tool, which allows people to read news about projects, buy and sell Incentive-Contracts and monitor the status of projects. An I-Con pays deliverable payments when deliverables are completed and pays the face value when the project succeeds. The I-Cons can be bought and sold by people working on the project, affected by the project in the organization or by system integrators and contractors. As they work to make the project succeed, their I-Cons pay off, aligning their motivations with the project’s goals.
How does the Incentive-Contract Network Work? The Incentive-Contract Network allows people to buy IIncentive-Contracts in a project. They pay a small amount up front to “buy-into” the project and then they are rewarded for working to make the project succeed. In a simple example, where the project is to server a candlelit dinner, people would buy Incentive-Contracts for $1 and then receive a $1 deliverable payment when the ingredients were purchased, $.50 when the table was laid, etc. The Incentive-Contracts could be bought or sold at any time during the project, reflecting what people thought about the likelihood of the project’s success.
The company benefits by seeing what people’s expectations are. By offering people the opportunity to buy and sell Incentive-Contracts, the company gets very clear signals about whether people really buy-into the project or not. If people lose faith in the project and sell their Incentive-Contract, the company gets an early signal.
The Incentive-Contract Network defines key project deliverables (Serving dinner) and milestones (Purchasing ingredients) and focuses people’s attention on achieving them. Along with clarifying the goals and motivating people to make the project succeed, the Incentive-Contract Network provides companies insight into how people think the project is going.
For more information, please see our Overview document.