Personally, I would rank appropriate guidance and clear project management as more important than physical layout or various other "perks".

I'd disagree. I'd put them on equal footing. A bad working environment can cause just as many problems as bad "management". No matter how good the management you cannot be productive in a poor working environment.

For example, I was once forced to work for a couple of months in an open plan office next to a group of marketing people. Lovely people (well, most of them :-) but their jobs involved answering and making phone calls all day. Our productivity dropped to just above zero with six mobiles and six desk phones going off continuously.

In reply to Re^2: On Creating an Effective Work Environment by adrianh
in thread On Creating an Effective Work Environment by Anonymous Monk

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