Quick look into Project Management

Project management can seem like a daunting discipline, but once you get a grasp of the fundamentals, and combine that with some intuition, you’ll be on your way to leading successful projects, no matter your situation.

Perhaps you have unexpectedly been assigned to lead a project and a big promotion is on the line, or maybe you’re a team member who wants to better understand their role in the project. Regardless of the situation understanding the fundamentals involved in project management is important. There are many articles within the project management companion site which can assist you in broadening your outlook of project management so you can reach your true potential.

What Is a Project?

A project is a sequence of tasks that lead toward a singular goal. Projects have boundaries, such as the time, people and resources needed to complete the project. These all depend on what results you want to achieve and when you want to achieve them.

Those results are your outcome, which produce something called deliverable s, which is produced or provided because of the project. Deliverable's can be both the result of the project itself, but also results of the process of the project, such as the project plan, reports or other documents.

Projects are made up of deadlines. Each task and phase of the project has a due date derived from a schedule.

Budgets are also part of a project. You need money to pay for the resources to meet the demands on the project within the time allotted. Typical resources include the workforce, work supplies and equipment. A project budget outlines these expenditures.

Most projects have five phases:

1.    Initiation: Here is where you set out the project scope, the goals, the organization of the project, its business case, its constraints, who the stakeholders are, what the risks are, the project controls, the reporting framework, etc.

2.    Planning: This is where you build the roadmap to take you from Point A to Point B, which means creating a schedule of the tasks, deadlines and resources needed to complete everything on time.

3.    Execution: The project begins and the project plan is put into action.

4.    Monitoring & Controlling: To make sure the project is proceeding as planned, you need to set up mechanisms for monitoring progress. If the project isn’t proceeding as planned, work to control and resolve issues before they become problems.

5.    Closing: Projects are temporary endeavours, so they eventually come to an end and need to be formally closed. But it’s not as simple as producing deliverables, there’s paperwork to sign off on, resources to reallocate and other loose ends to tie up.

Projects Require Task Management

Effective project management requires effective task management because a project is broken down into tasks — smaller, more manageable pieces. Tasks are temporary activities with a either a defined duration or a deadline.

Because the success of a project is dependent on tasks being done in a timely manner, tasks are often prioritized and then scheduled across a timeline. Some tasks are standalone acts, but others are dependent on the completion of one task to start another. These are called task dependencies. It’s critical to stay on track and get these tasks done so that the project proceeds according to its schedule.

What Tools Are Used in Projects?

Projects can be complicated, the bigger the more complicated. You plan, schedule and monitor to make sure all elements of the project are running smoothly. The more tools in hand, the more manageable the project and your tasks. Project management software can contain all the tools needed to help project managers and team members with every aspect of their projects.

When that project management software is cloud-based, data and collaboration can happen in real-time, which provides a more accurate picture of the project and helps in decision-making. Plus, project management software often contains many of the major tools for managing projects, like those discussed below.

Dashboards

Project dashboards  gather metrics from all parts of the project. Those numbers are then displayed in easy-to-read charts and graphs, giving a manager or a team member a live look at project progress and data. Dashboards can also assist in reporting. Running a project means reporting to the project’s sponsors on the progress of the project. Graphs and charts can be filtered to deliver just the data you need for targeted reports.

Gantt Charts

Online Gantt charts are great tools for planning because they display your task list graphically over a timeline. Each task has a deadline, which creates a line marking the start and finish of that task. Tasks can then be linked, if dependent.

Ideally, you can share the Gantt with your team and track their progress as they update their statuses. With some Gantt charts, the bar between the start and finish dates will fill in as the team works on their tasks, and if you need to change the schedule, you can simply drag-and-drop the bar to reflect the new due date.

Task Management Tools

There are task management tools that allow you to create to-do lists for yourself and assign tasks to team members. These tasks can sometimes have notes, files, links and images attached that relate to the task, and team members can dialogue and collaborate at the task level. You can also automate email notifications to know when a task is completed and to remind people of impending deadlines.

Timesheets and Workload Tools

In terms of managing the people working on the project, which can be a project by itself, there are timesheets. These are online documents that make it easy for each employee to track and record their hours worked, and they can be filed to the manager when complete for sign-off.

When it comes to managing the workload, resource allocation tools allow you to see at a glance if you’ve allocated your resources properly across the project so that everyone is working and the workload is balanced. In some cases, you can run reports from your workload management software, too.

Who Is a Project Manager?

The project manager leads the project through every phase. That means they’re responsible for first selling the project to stakeholders, then planning and defining the scope of the project. Project managers figure out all the tasks necessary to achieve the project goals, then they sequence those tasks into a schedule. Those tasks and schedules are then given the resources needed to achieve the project’s objectives. That means assembling a team, getting the tools they need, supplies, securing a site and any necessary resources.

The project manager is also the person who creates the project budget in order to pay for those resources. They are responsible for managing all the documentation, and then archiving those documents at the end of the project. They also manage risk and monitor project progress to make sure people are working unobstructed and within the schedule and budget.

So essentially, anything project related is under the purview of the project manager. They are the leaders of the project and manage the teams that are executing the project plan. However, they’re not the boss. The project manager has sold the idea of the project to a sponsor or stakeholder, and they report to them on the project’s progress.

Therefore, a project manager is a very well-organized person, one who is goal-oriented and passionate about process. A project manager must work well under pressure, provide leadership and know how to motivate people to do their best. Beyond people skills, communications skills are paramount. And they must know the methods and techniques that help deliver projects successfully.

Methods of Managing a Project

There are many ways to structure a project’s process, and project managers are experts in one or more of them. The most traditional is called Waterfall, which follows a linear approach to managing a project, breaking down the project into a very structured sequence.

A different approach that is gaining popularity is called Agile, which comes from software development. It is a process that works in small phases or cycles called “sprints,” and lends itself to small teams. Like its name, the process embraces change and is flexible and is continuously changing direction according to client feedback.

Then there are hybrid methodologies that take one or more methods and combines them. 

The Triple Constraint

Regardless of the method you use to manage a project, understanding the triple constraint is key. All projects are carried out with certain constraints. These are cost, time and scope. That is, projects must come in within budget, be delivered on time and meet the agreed upon scope.

If you think of the triple constraint as a triangle, then if you’re managing the cost, time and scope, the triangle is quality. So, if you’re managing the cost, time and scope of the project, then you’re going to meet the customer’s quality requirements.

But the triple constraint is more than that; it’s like the ballast on a ship, and keeps the project balanced no matter how rough the waters get. For example, if you need more money, then you’re going to have to adjust the time or scope of the project. Accordingly, if you’re short on time, then the budget or scope will have to change.

If you keep the triple constraint in mind while managing your project, along with the project phases and management tools, then you have the means to make the necessary adjustments that can keep the project on track. It’s the formula for success.

Of course, there’s more to project management than this Project Management 101 article. It gets deep. And it’s constantly evolving. However, there’s one constant in the eye of the hurricane that is managing a project: tools. If you and your team are equipped with the right tools, then you’re ahead of the game. Projectmanagementcompanion.com has a list of cloud-based project management software with real-time dashboards, online Gantt charts and features to manage workload, resources, schedules and every aspect of your project. See how it can help you succeed, by taking a free 30-day trial today!