Ever wondered why there are lots of unfinished projects looming around in our streets, offices, state and nation? The answer is simple-Poor Project Management.
A mismanaged project can lead to an end product that not only demotivate the team members, and delay the scheduled project life-cycle but also jeopardise the image of the organization handling the project. Hence, why an effective Project management process is very vital.
What is Project Management?
Project Management is the application of processes, methods, competencies, understanding and experience to achieve specific project goals according to the project-set standards and agreed parameters confined to a finite timescale and budget.
It includes the tools and techniques required to deliver a project successfully.
Project management involves five stages in its Life-cycle, which when followed accurately would lead to a successful project. These stages include;
This is the foundation stage of the project. At this stage, you begin with a brief description of the project purpose and authorized budget for the Project.
Project Definition/ planning
This stage involves People, Products, Processes and Projects. It begins with setting goals, defining the project scope, and developing a project plan and work breakdown schedule (WBS).
Project launch and implementation
This is the stage where you put all the plans written during the project definition into action. The team will carry out the tasks and activities from the project plan to produce the project deliverables.
Project monitoring and control
This stage involves monitoring and measuring the project progression and performance and solving any issues that arise on a daily basis.
During this phase, you will have completed your project work and dissolved the project. Project close might be successful. It can also not mean success but simply the final point of the project especially when you cancel projects that fail.
After the Project Closure, the team can go ahead with a post-implementation project review, in which the project will be evaluated to determine what went well and what didn’t. Thus enabling the team to do better, either in the completion of the project or improving the way future projects are handled.
In achieving effective Project management, Teamwork with its Four C’s ; Communication, Collaboration, Critical thinking, and Creativity is important. Following these key factors make working as a team easier and more fun.
On final notes, the importance of project management in organizations can’t be overemphasized because when it’s done right, its effect is felt in every part of the organization allowing team members to focus on their roles. They are free from the distraction caused by tasks going off track or budgets spinning out of control.
Lastly, effective project management empowers an organization to deliver sound project results and offers them a better opportunity to gain more projects in the future.