A project can be defined as any activities aimed to accomplish certain goal involving many different tasks.If you apply this to a company or business , you can say that the activities of your business can be divided into a set of projects, which you will have to accomplish successfully. It is therefore essential for your company to understand and implement a project management approach that can ensure an effective and efficient management.

Step by Step approach to Project Management

Project Management knowledge can help define the tasks that needed to be done first based on their level of priorities, set the time framework, gather the financial and human resources required to execute it, train and motivate staff, monitor the progress, evaluate performance and take corrective action if necessary. These steps within Project management can be lised as follows:

Gather information

The first step that a project manager must do is to gather information about the project. This would build a solid base for subsequent planning, execution, monitoring and controlling of the project.

Is the project feasible?

The next step after information gathering is to prepare the market and financial feasibility of the project, which can be done by performing a cost-benefit analysis. The criteria will be different from one company to another, depending on the overall objectives. The company can then decide if a certain project or a specific objective should be approved.

Planning starts

After getting the green light, the next step is to determine what needs to be done, as well as how things will be done. The goal is to provide a sense of direction, reduce any impact of change, minimise redundancy, and set the standard used in controlling and monitoring process.

The plan should contain the following things:

• Objectives

Make sure that the objectives are realistic and measureable.

• Strategy

Devising a plan of action for each function to achieve the overall objectives of the project.

• Procedures

To minimise possible conflicts and to streamline the workflow, there should be standard procedures for integrating and coordinating all of the activities. It is important to make the procedures as clear as possible to avoid any inefficiency and delays.

• Benchmarking

Benchmarking is a great tool to measure the performance of the projects with quantifiable ratings or grade systems. The project can be controlled effectively by the project leader, as well as team members as they can assess their own activities.

A great project plan can provide a vision to motivate team members, as well as a documentation that entails the standard for a project. However, there may be factors that are beyond the control of your company, which may require you to revise the plan to some extent. For practical purposes, you should always leave provision for revision.

Allocating resources

Once the plan is completed, allocating resources for various functions of the project is next. The resources should be managed properly and used as optimal as possible. This is to ensure that you have the flexibility should there be some provision to the plan.

Team building and communication

The project plan will be executed by a group of team members and is headed by a project manager. The success of the project will depend on hiring the right people for the right tasks, which makes determining clear job specifications for various functions of the project even more important.

Afterward, it is essential to maintain an intensive communication between each team member and project manager. The most important aspect of the communication is to make sure that each member understands the shared goals and efforts required to achieve them.

Set a schedule

Prepare schedule for tasks completion to give team members a sense of responsibility, as well as accountability standards.

Evaluate performance

To ensure the project can be completed in a timely manner, periodic evaluation of the project should be performed. A benchmark should be set against the project tasks, so that the quality of the project can be maintained.

Revise the plan if necessary

The business environment is not always stable and there can be many unwanted surprises along the way as you execute your plan, which makes project management even more essential. Making changes to the plan, due to unexpected factors, is part of the project management approach.

A project management approach can help achieve the objectives of your company in a smooth manner. Following all the steps, right from planning, coordination, communication, to control and evaluation are all required elements.