Project Management
June 22, 2023
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Managing a project, even a small one, needs acumen, patience, and of course, support from the rest of the team.
Project managers face a number of challenges in their job, some of them with the potential to make a project fail.
Proper management of resources, keeping pace with the project, ensuring it stays within the budget agreed on, and checking its progress, are just some of the issues that they have to tackle.
To achieve success in project implementation, the project manager needs to know the project inside-out, plan effectively, assess the project, and know the work management system properly.
There is no one rule to ensure that your project will be successful, but we do have a collection of valuable tips which can help you achieve the desired results.
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Let us check out the keys to successful project management:
The most important thing for project success is to start right – to have a solid foundation.
You have to know the project thoroughly: the clients, vendors, and other stakeholders, and understand their interests and aspirations about it.
Recognizing the requirements of your project is important, as these resources are what can make or break a project.
Set your goals clearly so that everyone understands the company’s objectives perfectly.
You must be well-versed with the 5 P’s of marketing – Product, Price, Promotion, Place, and People; this will help you plan more efficiently.
You will also be able to define key metrics and measure them to verify whether your project is proceeding as it should.
The three main areas you must focus on are – within scope, within budget, and on time.
If these three are met, your project will be successful.
Any project is undertaken because of the benefits it is expected to yield.
Ergo, it is essential to perform Benefits Realization Management.
Situations often change unexpectedly – like customer demands or market trends – and by focusing on the benefits, you can ensure that your team remains agile so that the best decisions can be taken to make the project a success.
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When your plan is ready, you next need to put a team in place that can execute your plan efficiently.
An ERP system project management can help simplify this daunting task.
The roles and tasks can be allocated after considering their skills, experience, and strengths – and their personalities as well.
In case you don’t have a specific skill set in-house, you may need to hire a professional with the necessary expertise so that your project can proceed as planned.
Once your team is ready, find the right person to manage the project, to whom the team reports.
The project manager will oversee the project progress, manage all the resources, and report to the management.
This employee will be the one responsible for the success of the project.
A good project manager is adept at motivating team members, has excellent communication skills, and will not micro-manage everything on a daily basis.
Instead, he will trust the team to take the minor decisions, but will always be there as a guiding force, and take the critical decisions himself.
He will be the point of contact for the customers, keeping them in the loop, and taking feedback from them.
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It is vital that you are able to identify the defining moments of the project as it progresses – otherwise known as milestones.
Like, when a baby starts to walk, it is a milestone she has achieved.
Similarly, for a project, important phases are ideation, planning, implementation, and conclusion.
At the end of each phase, carry out an evaluation to know where and how the project is going.
From product components to technical documents, everything involved in the project must be flawless; only then will you be able to exceed customer expectations.
Milestones indicate how dedicated the team is in completing the project quickly and efficiently.
When you set important milestones, you will be able to handle risks and track the progress of the project easily.
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This cannot be stressed enough!
It is critical that there is consistent, clear, and effective communication among all the stakeholders.
Any changes needed must be conveyed to the team members at the earliest so that there are no sudden surprises.
The project manager should keep communication lines between him and team members, as well as with customers, always open, so that he can be approached at any time.
Without proper communication, a project can easily fail.
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It is very important that everyone involved in a project has the right information which lets them make the proper decisions for the project to proceed.
Status reports of a project are great for keeping everyone on the same page, as they can receive updates about all the latest developments.
Communicate early, frequently, and meaningfully!
Communication must be clear and transparent – and a two-way process. you must listen to what your customers and team members have to say.
You need to communicate to the team what they need to do – the benefits that need to be achieved, what they are doing currently (progress updates, milestones, problems if any), and what the team did – success or failure.
The skills of the employees working on a project will decide its success or failure, to a large extent.
A competent manager should find out about the intrinsic strengths and weaknesses of those working on the project, and assign tasks appropriately.
All employees are not likely to be equally good at all tasks; whichever employee is more adept or quicker at particular tasks, should be given those tasks.
This way, you can ensure that you complete the project faster, and more efficiently – quality work.
You can manage time better, and get the best from your employees, as they will feel motivated when you trust them with certain important tasks.
When every employee has a meaningful role to play, it makes them feel valued and increases their productivity – thus contributing to the project’s success.
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Any project regardless of size and complexity, every project has certain risks associated with it – and it is absolutely essential that you manage those risks well so that they don’t hamper the success of the project.
Risks are potential threats, that can occur suddenly and put a spanner in the works of a project’s progress.
By identifying them early, you can take steps to mitigate or thwart them if they do crop up.
With experience, you will be easily able to foresee imminent threats, and determine when to take remedial measures.
Risk management has now become an important task for organizations to ensure project success.
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Whenever you reach a milestone, test your deliverables; only then will you get a clear idea of whether your project is proceeding the way it should.
Deliverables testing is a critical task to verify whether a project will meet or exceed expectations, and it will allow you to take remedial measures in case there are any shortcomings.
This will help you ensure that the project stays on track.
Every single project is an opportunity to learn.
A competent manager should not only review the project in its entirety but its different parts as well.
This will allow them to observe the successes and setbacks across the project, and store it as a reference for future projects so that they can make improvements.
Each and every element of the project, including the minutest details of a project, can provide valuable insights regarding how to implement a project the next time around.
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Technology is easing the work of project managers; excellent project management software is today available in the market.
This software not only helps to record and store relevant information regarding the project, but also provides reports, BI, and analytics, all of which help managers in taking informed decisions to ensure the success of their projects.
Project management software functions as a centralized and unified hub for every individual, every resource, and every activity related to the project.
Sharing files and documents, giving feedback, communicating effectively, and collaborating smoothly, are all facilitated and simplified with the right project management tool.
Tranquil ERP has a robust project management tool that simplifies the entire task of managing projects.
It empowers teams by making seamless collaboration possible so that you can complete and deliver projects in time.
It also helps to ensure there is no wastage of time, money, effort, or any other resource, which eventually results in greater profitability.
It offers a plethora of potent features that make project management a breeze; what’s more, we can tailor it to include functionality that is unique to your business, and can even customize your workflows.
You can generate a wide range of reports so that you have clarity regarding every minute aspect of the project.
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If you thought that ERP implementation project management is only for large companies, you need to think again!
An effective project management solution can benefit even small companies who undertake small projects.
The ultimate aim of any business is to grow; with the right project management tool, you can put your business on a fast path to growth.
As your business grows, you will need the right software to help you handle the increasing number of projects you undertake.
Tranquil ERP is a cloud-based, scalable, and flexible solution that can help you take your business to the next level. Do schedule a demo to know more!