An innovative idea is a great starting point. Then it comes down to execution and covering ground fast. This is true for technology projects but especially true for Blockchain/Crypto projects. Typically, Web3 projects require a ton of efforts around the various moving pieces:
Hiring a consulting company that has been there and done that can help you accelerate deployment. That is what Hypermode is all about. We can help you across the crypto lifecycle:
To do such projects, we have developed a consulting Professional Services Framework specific to blockchain projects.
How did we do that? Our founder (Salah Khawaja) spent 10 years at Deloitte. He has taken his Big4 experience on Wall Street and his interest in crypto (he was an OG investor in Bitcoin 2014 and Ethereum in 2016) and developed the framework as part of crypto projects that we have completed for clients.
The core components of the Crypto Professional services framework:
It all starts with understanding client needs in the form of clearly identified objectives and deliverables. To meet those objectives and to, well, deliver those deliverables, the next step is to determine the scope and approach. Along the way, document all the assumptions and constraints as well. Determine team/governance for a successful crypto project, deploy the resources efficiently, develop plans and milestones. Based on all the plans, prepare a budget.
Delivering Web3 Product Development is iterative and occurs in a series of agile sprints – with customer satisfaction a core principle. From brainstorming the concept to defining and designing and then building the product and then finally deploying it. In parallel QAing everything and communicating the status.
This is where the seed is planted for the idea; it is only when a concept is envisioned that it can be further defined. Also known as the scoping stage, this is where we dive into understanding the need of what is being imagined, estimating the amount of effort required to build it and leaving enough space for
flexibility to ensure agility. The focus here isn’t to precisely nail down a full-thought through product, have a broad brush stroke picture. It can take the form of a business arch:
In the Define phase of the Agile Delivery, the first deliverable is the product backlog. It can be understood as a to do list a. All the features that need to be built. Usually the wish list is long, that is where prioritization comes in, then design approval.
Design phase is where we take the concept and start completing User Experience (UX) Research, designing the UX and UI and building the assets.
Tech has taken off, as the adage goes software ate the world. That is a result of Web1 (remember Yahoo, and Craigslist) and Web2 (think Netflix and Uber) revolutions. God forbid we had to live without our phone for a day.
The revolution is not stopping. Now “Blockchain and Crypto is eating the world” and powering the Web3 revolution. For Web3 projects to be successful, well they must have sound project management.
Our founder ran digital transformation on Wall Street for 20 years (Deloitte, JP Morgan & Bank of America.). He has adopted what he has learned into “The 7 Dimensions of Crypto Project Management”
All digital projects, especially web3 ones, are complicated. To manage projects efficiently and effectively, follow this recipe:
It is important to have a holistic view to organize, plan, control, and align teams – towards strategic objectives. The portfolio view can be understood as a dashboard where we can have an overview of the key areas and their status; hence, it becomes possible to utilize the resources where they are supposed to be.
ADD SNAPSHOTS TO THE RIGHT
It is important to have a crypto roadmap – bring all the pieces together. Every workstream has a start, a middle and a clear finish line.
The roadmap keeps things organized and shows what’s next.
Simple status reporting is needed to keep all stakeholders aligned and organized while achieving Objectives and Key Results (OKR). There can be multiple streams of effort being executed at the same time in a crypto project such as acquiring NFTs, building crypto economies of scale, renting NFTs, creating wallets, running IDOs and creating community effort. All of them are linked, yet independent at the same time; therefore, making effective communication a priority to streamline the project workflow.
Storytelling is a key aspect of Blockchain project management as it helps facilitate complex decision-making. It is important to develop insightful presentations and convey messages in a compelling way. Stories make the vision personal and communicate “what’s in it” for all the stakeholders.
Clear roles and responsibilities enable project success. Project members understand what workstreams they will be working on. An organizational chart can help to manage project resources optimally. Overlapping and not identifying the right resources, especially in a crypto and blockchain space burns precious time, capital and effort.
We have all understood the power of data by now, but to integrate in our projects with a meaning is an art.
Making sense – Data allows organizations to visualize relationships between what is happening in various locations, departments, and systems.
Make meaning – create a data story, looking at these data points side-by-side allows us to develop more accurate theories and put into place more effective solutions.
Explore and analyze the data, explain using data story and make actions to improve/correct.
Digitization in crypto consultancy helps to improve the efficiency of operations. Digitizing several dimensions in operations and delivery framework has proved to be instrumental. Digitization of the following components is important:
Employee management – Digitize the performance matrix, recruitment process, training, time tracking
Clients/Projects – Clients, Projects, Sales and Project Budgets, Employee Schedule
Finance and Accounting – Invoicing, Collections, Bookkeeping, Payments, forecasting
Domain – Knowledge Management, Internal Portal, Payroll, taxes
People should be dealt with as the real assets of any organization; define clear end-to-end guidelines and strive to prepare people for success not only in their roles but also in their lives. That is why our team of experts is determined to always work the extra mile to enable the project to grow further. To manage people within the organization all the angles must be covered, starting with recruitment – solid recruitment practices, training, and learning – upgrade skills and inculcate the company values, performance management – analyze the performance and fill the gaps, organizational design – helps with resource planning, retention – keep them motivated and keep a healthy environment.
Training and learning are an ongoing process, be it a new resource or someone who has been part of the organization already. Other than the focused training on a certain skillset, learning portal that offers several tutorials, transcripts, and videos. Thanks to our founder who has been leading digital transformation for more than 20 years in Silicon Valley, his vision makes us all a family and anyone from any facet can raise a hand for help and find unconditional support.
Development of culture that is based on the following pillars:
Continuous Improvement – Solve Problems – Being Relentless – Learning – Experimentation
To develop such culture, core human values need to be inculcated in the team such as Be nice, be good, deliver value, pursue growth, move fast, fail fast, relentlessly learn and share success.