Managing projects presents different management challenges. How can you address those challenges?
Managers most of the time are focussed on the here and now. From time to time they will be given responsibility for projects. The challenge for those given responsibility for projects is that projects generally have a high failure rate. So what can you do to better manage projects?
Be clear on the purpose
What’s the purpose of this project? Defining the purpose of your project should be the first thing you do. Make a point of defining the purpose of the project in a way that will allow you categorically whether or not has been achieved. So, for example, having a fully functioning accounting system covering all group companies by 31 December is a very clear purpose or outcome.
Have a cut-off point
Variations are one of the biggest causes of project overruns in terms of both time and cost. For major projects such as those involving building work, users need to be tasked with defining their requirements by a set point. In addition, there is an important role in educating them in the costs of failing to do this rigorously.
Identify and deal with risk
Everything, including projects has risk associated with it. It is important that project risks are assessed both in terms of likelihood and impact. A decision also needs to be taken on what to do with about those risks that are significant and someone needs to take the agreed action.
Involve your internal auditors
If you work for a larger organisation, chances are that you will have an internal audit function. Internal auditors are experts in risk and control, so make use of their expertise. They may well be able to see blind spots that you have overlooked in planning and running projects.
Keep communicating
People who are stakeholders and senior management will want to be kept informed about progress and achievements. Make sure that there is a clear communication strategy for the project keeps all stakeholders in the loop.
Bottom line – there will always be challenges in managing projects. What action could you take today to improve your project management?
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