Impact vs. level of effort is an alright starting place but IMO too high level. When thinking about what work to take on, here are four other dimensions to consider, roughly in order of increasing visibility to stakeholders (probably on an ordinal rather than continuous scale)
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Avoiding personality mismatches is a good way to control perceived utilization rates up front, and in general, will save the manager a lot of interpersonal-drama-induced headaches.
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Each of these four things is a rich topic in and of itself, and even though they're not all equally visible, each has an impact on how stakeholders perceive a DS's work. DS managers don't necessarily have to talk about these factors, but they absolutely should keep them in mind
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Visibility is an important organizational currency to accrue, but it's a currency that's also easy to spend quickly. Investing in your team and infra will enable you to expand breadth and depth of your team's work, and make it possible to do even more visible work in the future
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Seeing is believing for stakeholders, but one can not live on belief alone.
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End of conversation
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