Project management is one of the most important aspects of any business. From the small local company on the corner, and all the way up to companies like Apple and Tesla, having good project management practices and having a good manager is essential for both short and long term success in any field. First of all, let us examine the 3 attributes of any project:
- Each Project is Unique
- Projects have a defined Beginning and a defined End.
- It develops over time (progressive elaboration)
By the end of this guide, hopefully you have more of an idea how to execute as a project manager, whether it be from the textbook itself or leading from the gut.
Here are some of the basics you should know about project management:
- The five stages of any project are:
- Initiation
- The main focus of the initiation stage is to determine the vision of the project, document the project goals and expected outcomes, and secure funding and approvals from the project stakeholders. When you take the time to determine the vision of the project and its expected outcomes, think of the resources who should ideally be involved and secure them upfront. By doing this, you prepare the road for a strong start that sets the stage for a successful project.
- Planning
- The Project Planning stage is where you actually start materializing the vision of the project by preparing and documenting detailed plans, which include project infrastructure (Work Breakdown Structure), project management plan, definition of Project Scope, Risk Analyses and responses, Project Schedule (Timeline) and Project Budget. Just to give an idea, according to the Project Management Institute (PMI), the Project Management methodology has 47 processes distributed along 10 knowledge areas. From these 47 processes, 24 fall under the category of this second stage of Project Planning, or said differently, 51% of processes related to the management of a project are related to Project Planning. Putting the effort upfront during this project stage really pays off and determines at a great extent the success of any project. At the end of this stage, everyone on your team will understand and embrace the vision of the project and their role and responsibilities for the successful completion of the project.
- Execution
- This is the project stage in which the project starts to become alive. This is were you and your team start to take action to deliver results by following the Project Plans already developed on the previous stage. This is where most of the budget is allocated and most of the project deliverables are produced.
- Monitoring and Control
- This project stage consists mainly on auditing and measuring the actual progress of the project against the Project Schedule/timeline, Deliverables, and Cost figures (Actual spent vs Budgeted). This is also where you make changes and take corrective actions where necessary to keep the project on track.
- Closing
- This project stage is the final phase of the project lifecycle and basically consists of confirming the completion of project deliverables, archive of project records, dismissing the project team, and the most important, celebration and acknowledgment of achievements!
- Initiation
The Responsibilities of Project Managers
Often times we people think that a project manager is a big boss sitting in a chair at the end of the table, yapping orders while they sit with a stressed look on their face. That couldn’t be more wrong. A good project manager is going to be very hands-on, being in each detail that his teams are designing. Just some of the key jobs of a manager can be found below.
Organize the Team
If your goal is to get to the moon, and you only hire people that work at your local CVS, you won’t get far. Ensuring that your team has every piece for the goal in place is the first, and possibly the most crucial, part of the formula. Even with an average manager, a team full of rockstars will be able to exceed expectations.
Time Management
One of the timeless challenges of working in a group is that each person prefers to work at their own pace. The responsibility of the manager to is ensure each group has a clear exception of when each task needs to be completed and how much time and resources need to be spent on each section.
Along with setting the expectations, the great manager can see when a group is falling behind and will move bodies and resources to keep the project on track.
Adapt and React
Not one project in this world has ever gone perfectly. But the best are going to adapt and react to the obstacles and find a way to get the project deliverables back on track. As a project manager, you’ll need to step in and make some changes. Although the changes usually don’t need to be seen as big, they can often change the course of the project and get it back where it should be.
Developing Reports
A management report is crucial to the long term success of projects. Keeping track of what worked for the team may not initially pay off, but it is going to help in the long run with your company. It is imperative to know what worked for your group and what didn’t.
Project Budgets and Cost Estimates
Often times, projects are based on productivity and timing, but a project that exceeds budget could be considered a failure rather than a success. This step of the process needs to always be in check. Each group needs to know down to the dollar what they are allocated. A good manager is going to keep an eye on all spending, and keeping a tight budget in each stage of the project.
Presenting to Stakeholders
Once you have a set plan for each minute and dollar your team will be spending on the project, its time to present to the stakeholders. The stakeholders are those who will be impacted by the results of the project, and the ones that you will report to about any progress, setbacks, or developments in the project.
In the course of the meetings, you should discuss the following points:
- The purpose of the project, and the problem you are trying to solve.
- The goals of the project, and what a successful project looks like to you and your team.
- Budgeting the project, how much the stakeholders are willing to spend, and what are the consequences of going over.
- The deliverables that will be made, whether they be a product or a service at the completion of the project.
- Scheduling the project and what the stakeholders can expect as far as timing is concerned.
During this meeting, you will also be able to discuss any goals the stakeholders expect for you to accomplish, road blocks they expect you to hit, and any adjustments to your proposal they feel like making.
This meeting is usually not the meeting you get the green light. After you assess what the stakeholders want from the project, you and the team need to go back to the drawing board to make sure each need and pain point is being met by the group. At that point, you schedule the follow-up meeting with the stakeholders and get the green light to get started.
Do We Need Project Management Software?
The answer to this question can change throughout your project. At the beginning, you may not see a need for it just yet. But towards the end of each project, it often is easy to get frustrated when trying to manage so many moving parts without having a digital footprint of all of it. Here are just a few reasons you and your team may need to opt in to a management software.
- Improvements in communication
- Project Schedule Management
- Project Budget Management
- Bringing multiple teams together
- Nailing down specific project data
Project management software isn’t a bandaid on bad management though, and you should know when to avoid the software and stick to the white board. However, a Planning App could be a great yet a simple tool that represents a minimal investment and a huge advantage at the same time for you and your team.
If you want to learn more, click on this link: GamePlan: Prioritized Planning App
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At the end of the day, being a project manager has many facets and responsibilities, but it comes down to the individual that is going to be responsible for the teams success. If the project is successful, you’ll get the praise. If the project crashes and burns, you are accountable for that as well.