From Failure to Success

Project Management Insights From James Cameron’s The Abyss

I visited the "James Cameron – Challenging the Deep" exhibition on its last day in Vancouver, Canada. I saw Cameron's specially engineered diving helmet, props, and costumes from the Titanic. There were also specimens from Cameron's personal collection presenting how his love of science and technology influenced his career as a film director.

I also discovered two projects in that immersive exhibition: An outstanding success story and a $700M failure.

First, the success story:

Some artifacts from the film "The Abyss" were also on display in the exhibition. That movie has been a milestone in the film industry. It was written and directed by James Cameron. It pushed the boundaries of technological innovation, particularly in computer-generated imagery (CGI) and underwater filming. Its impact was seen not only in the film's success but also in its influence on subsequent movies and the broader evolution of filmmaking techniques. Excellent project management performance turned James Cameron's outstanding vision into a success story.

Here is the failure part:

The Cherokee Nuclear Power Plant project was initiated in the early 1970s. Originally, three reactors were planned on the property. One reactor was partially completed when work was halted in 1982. Then, the project stalled due to economic problems by the early 1980s, leading to the project's eventual abandonment. In 1987, this abandoned power plant was chosen as the site of the film "The Abyss."

The Abyss was released on August 9, 1989, grossed $90 million. It was nominated for four Academy Awards and won the Academy Award for Best Visual Effects.

The Cherokee Nuclear Power Plant created a loss of around $700M.

Effective project management alone is not enough to create value; a sound vision and strategy must guide it.