Is your business falling behind because of poor project management?
Many organisations suffer because of failed projects. There are several reasons for this. Projects fail to meet deadlines. They overrun budgets. Their products are below required quality standards. All these issues are centred on poor project management.
Many organisations give the responsibility for managing a project to a departmental leader or executive with no formal project management training or experience. This is strange, because more than 90% of organisations believe that effective project management is essential for success. This is evidenced by the high proportion of project success when projects are well-led, by qualified and experienced project managers – 80%.
What is it that effective project management brings to the table?
Project managers understand the realities of bringing a team of people with different skills and abilities together. They have experience of organising a project from start to finish, navigating it through the project lifecycle – for example, by following the 7 principles of PRINCE2. Here are seven ways in which effective project managers increase project success in an organisation:
#1 Project management defines the project plan
Projects must be planned with a defined path, passing through project milestones, with progress measured effectively. This is the primary objective of project management. An effective project schedule will reduce the probability of broken budgets and delays.
#2 Project management encourages collaboration and new ideas
A project manager who manages a team well will encourage both collaboration and the formation of new ideas. This is essential to finding solutions to project issues.
#3 Project management controls project costs and maximises resources
Cost overruns can destroy the value of a project. An experienced project manager will monitor and control budget performance within the project plan.
The costs of any project fall into certain categories – human and supplier being the obvious. By monitoring and measuring, and following the disciplines of the project management methodology employed (for example, PRINCE2), these resources are used both effectively and efficiently.
#4 Project management considers the business
Projects must be managed in line with the needs of the business. New processes and systems must integrate with those existing. Project management ensures that these needs are identified, and that projects add value.
#5 Project management manages change
The only constant in business is change, and projects are subject to change during their life. This change may be in reaction to internal or external pressures. Whatever the reason, the project manager must manage resources, project scope, budgets, and time constraints within this change context.
#6 Project management controls quality
A central theme of PRINCE2 project management is that of quality. This relates not only to the product of the project, but also to people, processes, service, and systems. Quality produces value, and project management monitors and controls quality across the project.
#7 Project management increases project knowledge
All projects are different, and every project undertaken increases project knowledge. The experienced project manager brings a wealth of project management knowledge with him or her. This can vastly improve the chances of the success of a project.
In addition, project management strategies include learning before, during, and after every project stage. This helps to improve the knowledge, skills, and abilities of every project stakeholder.
Have your previous projects been successful? Have they met the targets set for them? When was the last time you interrogated your project management capabilities? To discover how to ensure effective project management in your organisation, contact Your Project Manager today: