Imagine you’re setting out on a cross-country road trip. You’ll need a map, a plan for stops and accommodations, and the ability to handle any unexpected events. Similarly, in the business world, the success of any project depends on your ability to manage projects well which includes well-defined objectives, a clear plan of action, and effective management processes. Poor project planning and management can lead to disastrous outcomes such as missed deadlines, cost overruns, and dissatisfied stakeholders.
In this article, we’ll explore the importance of project planning and management, why failure to manage this well is a critical business challenge, and how to establish a culture of excellence in these critical areas.
To Manage Projects Well – What should I know?
To put it simply, everything we do that has a start and an end is a project. Therefore, the principles of project planning and management can be applied to our day-to-day tasks, improving our efficiency and effectiveness. Here are some key definitions to help navigate the literature so it is easier to understand the tremendous impact a solid system can have on your productivity and results.
What is a Project
Think of a project as any endeavor that has a clear beginning and end, intended to produce a unique outcome. It’s not necessarily a grandiose venture like launching a new product or constructing a skyscraper. It could be as simple as organizing your upcoming team meeting, writing a comprehensive email to a client, or even planning a weekend trip. Every project, big or small, benefits from an effective and robust management system.
What is Project Planning?
Project planning is essentially the roadmap of your endeavour. It is the process of breaking down your project (be it an email, a meeting, or a new product launch) into manageable tasks, setting a timeline, and determining the resources needed.
It’s like planning a dinner party. You wouldn’t just invite everyone over without deciding the menu, shopping for groceries, or considering any dietary restrictions, would you? Similarly, when you’re about to write an important email, you decide on the points you want to cover, the tone you want to set, and the action you want the recipient to take. This is project planning on a micro-scale, but it’s no less important than planning a multi-million-dollar project.
What is Project Management?
Once you have your roadmap, it’s time to hit the road. Project management is all about navigating through the journey. It involves keeping an eye on the progress, steering clear of potential roadblocks, and making sure you reach your destination as planned. It’s like being the captain of a ship. You set the course, monitor the weather, manage the crew, and adjust the sails as needed to reach your destination. Even for something as seemingly simple as an email, you’re managing the project when you’re revising the draft, considering the feedback, and ensuring it’s sent on time to the right recipient.
What is a Project Backlog?
In the world of project management, the term “backlog” often carries a different meaning than normally associated from the perspective of SCRUM. Especially when we’re talking about the project office perspective. Here, a project backlog is more like a ‘waiting room’ or a catalogue of all the projects that your organization wants to undertake in the future.
Think of it as a library of projects. Each ‘book’ in this library is a potential project, complete with its idea, goals, estimated costs, and benefits. However, these projects aren’t active yet. They’re waiting for their turn to be picked up, prioritized, planned, and executed.
For instance, imagine a manufacturing company with an idea to launch a new product, an initiative to upgrade its IT infrastructure, a plan to conduct a customer satisfaction survey, and a proposal to revamp its website. All these potential projects would sit in the company’s project backlog until resources become available and they are prioritized and scheduled for execution.
Just like your to-read list of books, the project backlog is dynamic. It’s continuously updated as new project ideas come in, or as business needs, strategic goals, and resource availability change. The key is to keep this backlog organized, updated, and aligned with your business strategy. This way, when it’s time to decide on the next project to undertake, you have a clear overview of all the options, making it easier to choose the most valuable and feasible projects to move forward with.
Essential Elements of the Project Management Process
There are many different ways to approach, plan, design and execute a project and this often depends on the nature of the project, the size and impact of the project and any rules or regulations governing the project and project delivery. In addition, many great project managers develop their own style that works best with their personality, way of doing things and the organizations they work with.
But all great project processes will attend to the elements listed below and that is the important bit – whether a large project or writing that e-mail. Using these elements as part of your business delivery process will go a long way to help minimize errors, remove unnecessary work, and create a culture of effective output.
1. Project Initiation
The project journey begins with initiation. This is when you identify a new project or a business need and determine whether it’s worth pursuing. Think of it as your due diligence phase—like when you’re considering buying a new car, you wouldn’t just purchase the first one you see. You’d research, compare different models, and consider whether it fits into your budget. Similarly, during project initiation, you’ll evaluate the feasibility of the project, its potential benefits, and how it aligns with your business goals. A key output of this phase is the Project Charter, a document that formally defines the project, outlines its objectives, and identifies the key stakeholders. And yes, even for a complicated email this may be worthwhile doing – rather than sitting in front of your keyboard and “winging” it…
2. Project Planning
Once your project is given the green light, it’s time for planning. This phase is all about setting your project up for success. It’s the equivalent of planning a dinner party—you’d decide on the menu, prepare a shopping list, invite guests, and schedule when to start cooking. In the project context, you’ll define the scope, create a detailed work breakdown structure, estimate resources and time, set a budget, and outline a communication plan. A well-documented project plan acts as your blueprint, guiding your team’s efforts and keeping everyone on the same page. And on the topic of great dinner parties – if you want to know why some people make it look effortless, it is because they plan the heck out of it.
3. Project Execution
This is where the rubber meets the road. The execution phase is when your team starts working on the project deliverables. Using the dinner party analogy, this is the phase where you start shopping for ingredients, cooking, and setting up the venue. In the project execution phase, resources are allocated, teams are directed, and tasks are performed to deliver the project’s products, services, or results. The project manager uses the project plan to track progress and ensure work is being completed as scheduled.
4. Project Monitoring and Control
While your team is busy executing, it’s crucial to monitor and control the project’s performance. This phase is like when you’re baking a cake—you’d regularly check its progress, adjust the oven temperature if necessary, and perhaps even tweak the recipe. Similarly, during the monitoring and control phase, the project manager tracks the project’s performance, compares it to the plan, and makes necessary adjustments to keep the project on track. This includes managing risks, addressing issues, and implementing changes if required.
5. Project Closure
Finally, once all the deliverables have been completed and accepted, it’s time for project closure. This is when you formally close the project, tie up any loose ends, and celebrate your team’s hard work. It’s like the end of your dinner party, where you’d thank your guests, clean up, and maybe even reflect on what went well and what you’d do differently next time. In project closure, you’ll conduct a project review, document lessons learned, release project resources, and celebrate your team’s success. This final step provides valuable insights for future projects and offers a sense of closure for the team.
By following these key phases in your project management process, you can ensure your project stays on track, meets its objectives, and delivers value to your organization. Remember, project management isn’t a linear, one-size-fits-all approach—it requires flexibility and adaptability based on the unique needs and constraints of each project.
Crafting an Effective Project Prioritization Process
Effective project prioritization is crucial for businesses to make the best use of their resources and pursue the most valuable opportunities. It’s like deciding what to pack for a camping trip—you can’t take everything, so you need to choose items that are most likely to contribute to a successful adventure.
Here’s how you can develop a project prioritization process that ensures you’re always working on the right projects at the right time:
1. Establish Clear Business Objectives
The first step in any project prioritization process is defining your business objectives. This is like determining the purpose of your camping trip—whether it’s for relaxation, adventure, or wildlife spotting. Your business objectives could range from increasing market share, improving customer satisfaction, or driving innovation. Clearly defined objectives provide a standard against which all projects can be evaluated.
2. Develop a List of Potential Projects
Next, you need to gather all potential projects that are vying for resources. Think of it as creating a list of all the items you could possibly take on your camping trip. This list should be comprehensive and include projects from all areas of your business.
3. Determine Evaluation Criteria
Now, you need to decide how you’ll evaluate and compare the potential projects. It’s like choosing which factors to consider when selecting your camping gear—weight, usefulness, and cost might be your top criteria. Similarly, you might consider factors like strategic alignment, potential return on investment, resource availability, and risk when evaluating projects.
4. Score Each Project
Once you’ve established your evaluation criteria, it’s time to score each project. This is akin to evaluating each item on your camping gear list and assigning it a score based on your criteria. It might be helpful to use a numerical scale for this, such as 1-5 or 1-10. The score will provide a quantitative value that can help in comparing projects.
5. Rank the Projects
Now that each project has a score, you can rank them. This is like arranging your camping gear items in order of priority based on their scores. The projects with the highest scores are considered the most valuable and should be given priority.
6. Review and Adjust Regularly
Finally, remember that project prioritization isn’t a one-time activity. It’s a dynamic process that should be revisited regularly. Just like you might adjust your camping gear list as your trip approaches based on weather forecasts or advice from experienced campers, you should adjust your project priority list as business conditions change or new information comes to light.
The Pitfalls: Why Projects Fail to Deliver
Projects are like journeys. You set off with a clear destination in mind, but along the way, many things can go wrong. The car can break down, the weather can turn sour, or you might realize you’ve been reading the map upside down. Similarly, in the realm of project management, numerous pitfalls can lead to a project’s failure. Let’s dive into some of the most common reasons why projects fail to deliver:
1. Poorly Defined Outcomes
Imagine you’re setting off on a road trip without a clear destination in mind. You might have fun for a while, but you’re unlikely to end up anywhere meaningful. The same applies to projects. Without well-defined outcomes or objectives, a project is like a ship without a rudder. It’s crucial to outline what success looks like from the outset to give your project direction and purpose.
2. Lack of Planning
Skipping the planning phase is like setting off on a cross-country hike without packing any supplies—you won’t get very far. Adequate planning includes creating a detailed project schedule, assigning responsibilities, and setting milestones. Failing to plan adequately can lead to oversights that become significant problems down the line.
3. Inadequate Resources
Setting out on a journey without enough fuel or food is a recipe for disaster. Similarly, starting a project without adequate resources—whether it’s time, money, or personnel—can doom a project from the start. Overworking your team, exceeding your budget, or running out of time can all lead to project failure.
4. Poor Communication
Just as a lack of communication can turn a family road trip into a nightmare, it can also derail a project. Clear and frequent communication is necessary to ensure everyone is on the same page, understands their responsibilities, and can voice concerns or provide updates.
5. Ignoring Project Risks
Imagine if you ignored the warning signs of an upcoming storm during your camping trip. The consequences could be disastrous. The same principle applies to project management. Every project comes with risks and ignoring them doesn’t make them go away. It’s important to identify potential risks early on and have a plan to mitigate them.
6. Scope Creep
Scope creep is like deciding to add a few more destinations to your trip while you’re already on the road—it might seem like a good idea, but it can stretch your resources thin and derail your schedule. Keeping the project scope under control is essential to delivering on time and within budget.
7. Lack of Stakeholder Engagement
If your travel companions aren’t interested in the trip or don’t feel included in the decision-making process, they might not be very cooperative. Similarly, if stakeholders aren’t engaged in a project, their lack of interest or resistance can hinder progress. Stakeholder buy-in and regular engagement are key to project success.
By being aware of these pitfalls and taking steps to avoid them, you can significantly improve your project’s chances of success. Remember, a successful project isn’t just about the destination—it’s also about the journey.
So how do we get started?
So now you have a general idea of project management principles and how to apply them to ensure you deliver projects that have great value. What is the next step?
The table below offers a practical, step-by-step guide to help you make sense of the chaos and steer your business towards strategic project execution. This structured approach is designed to be adaptable to your business’s specific needs, providing a framework for managing projects of all sizes across various departments.
| Check | Step Name | Description of the Step | Key Risk to Avoid |
| Identify Potential Projects | Begin by identifying all potential projects. Engage with each department and make sure all projects, no matter how small, are included. | Avoid the risk of overlooking smaller projects that could potentially bring significant value to the business. | |
| Define Project Outcomes | Clearly define the desired outcomes for each project. What does success look like? How will it benefit the business or department? | Avoid setting vague or unmeasurable outcomes. Each project should have clear, quantifiable goals. | |
| Assess Project Feasibility | Evaluate the feasibility of each project. Consider factors like available resources, time constraints, and potential risks. | Avoid the risk of overcommitting resources. Remember, just because a project is feasible doesn’t mean it should be prioritized. | |
| Prioritize Projects | Based on the project outcomes and feasibility, prioritize the projects. Consider using a project prioritization matrix to assist in this process. | Avoid the risk of bias in prioritizing projects. Prioritization should be based on objective criteria, not personal preferences or politics. | |
| Develop a Project Plan | For each prioritized project, develop a detailed project plan. This should include the project’s scope, timeline, required resources, and major milestones. | Avoid the risk of insufficient planning. A well-thought-out plan is key to successful project execution. | |
| Assign Project Managers | Appoint a project manager for each project. This person will be responsible for leading the project and ensuring it stays on track. | Avoid assigning project managers who lack the necessary skills or experience. Project management requires a specific set of skills and knowledge. | |
| Communicate the Plan | Communicate the project plan to all relevant stakeholders. Make sure everyone understands their roles and responsibilities. | Avoid poor communication, which can lead to confusion and misunderstandings. Ensure that all communication is clear and concise. | |
| Kick Off the Project | Once the project plan has been communicated, officially kick off the project. Regularly monitor the project’s progress and make adjustments as needed. | Avoid the risk of “set it and forget it.” Regular monitoring and adjustment are necessary for successful project execution. | |
| Review and Learn | After each project’s completion, conduct a post-project review to identify what went well and what could be improved. Use these learnings to improve future projects. | Avoid the risk of repeating the same mistakes. Continuous learning and improvement are key to successful project management. |
Use this as your compass to navigate the project management journey and remember that every journey begins with a single step. So just get started.
Conclusion
In conclusion, effective project planning and management is more than just a strategic advantage—it’s a critical component of business success. From small tasks to large-scale initiatives, employing systematic project management principles can transform the way your organization operates and delivers results.
But remember, knowing the principles is only the first step; the real transformation begins when you put them into action.
