Effective Project Management: 5 Proven Success Strategies
| Translated by Julian Hammer
5 proven strategies for project success and a checklist which helps you to choose a project management software that responds to your requirements
Project Management is a Key Competence for Every Company Regardless of Size Using proved strategies and a suitable project management software you can plan your projects successfully and obtain the desired outcome.
Here, we introduce you to five strategies that will help you to manage projects effectively and to achieve your objectives.
1. Clear Definition of the Project Objectives
Without a clear vision and objectives, a project can quickly slip out of hand and the progress becomes difficult to measure. Your objectives should be SMART — specific, measurable, achievable, relevant, and time-bound. A solid project structure and a clear distribution of tasks are equally decisive. This way, all team members know what is expected of them and how they contribute to the overall success of the project.
2. Opt for the Right Project Management Method
Choose a suitable project management method is a decisive step towards project success. There are different methods, e.g. cascade, agile, and hybrid approaches. Each method comes with advantages and disadvantages. It is therefore important to take into account the requirements posed by the project and your organization. Hybrid models allow you to combine different methods, e.g. traditional milestone planning in Gantt charts and agile task planning in Kanban boards.
3. Efficient Project Communication and Collaboration
Open and regular communication is the key to make sure that all team members are on the same page and can quickly tackle obstacles. Particularly for dispersed project teams, the project management software must provide the right collaboration features to facilitate collaboration and exchange of information within the team. All project data must be stored centrally in the project and always be up-to-date.
4. Choose the Right Project Management software
Choosing a suitable project management solution is crucial for efficient working. Many companies start with Excel, but with a growing number of projects, they recognize the need for a specialized software. Such a software offers a centralized platform for task management, progress monitoring, and efficient resource management. It helps to improve communication within the team, allows for in-depth project planning in clearly arranged Gantt charts, and supports precise risk assessment. The decision for a PM solution should always be based on the specific requirements of your company’s projects.
5. Careful Project Planning and Management
Once the framework for project work in the company has been defined, certain standards for the actual project work will be necessary, especially when these projects share resources in multi-project management and have mutual dependencies.
Resource Management
Plan your resources carefully to make sure you have sufficient employees, equipment, and financial means to successfully complete the project. A detailed project plan with clearly defined buffer times for unpredictable events is decisive here. This plan does not only allow for efficient resource utilization but also facilitates an early identification of bottlenecks, especially when multiple high priority projects want to employ the same resource.
Management of Project Risks and Opportunities
Managing project risks and opportunities is indispensable. Identify potential risks in good time and take measures to minimize them. A suitable software supports you in the assessment and prioritization of risks and opportunities and helps you to take appropriate measures to guarantee the success of your project. Proactive risk management helps to avoid unexpected problems and to ensure the quality of the project outcome.
Progress Monitoring
Continuous monitoring of the project progress is crucial when it comes to keeping the project on track. Regular progress checks, milestones, and adapted project plans help to obtain the desired results. The implementation of clearly defined milestones and regular reporting facilitate effective monitoring.
Learn from Experience
With these proven strategies in your arsenal, you can put your company projects on the road to success. A Lessons-Learned session after each project completion further contributes to the on-going acquisition of new insights and the recording of experiences, allowing you to be even better equipped when you launch your next project.
