In the 21st century, project management has changed from a being a discipline to a collaborative skill. A skill that we can all use whether we work in IT, Supply Chain, Marketing, Design, or any department.
(Btw, check out Airschool for online courses across all these disciplines)
Every individual has far greater responsibility in the workplace today. Collaborating with various resources, meeting deadlines and achieving goals is a road all of us, including myself, have to get on. Despite the road being bumpy, having a roadmap of a project we are pursuing, makes the journey smoother.
In a report by PMI, lack of training and problems in project management cost businesses $109 million for every $1 billion invested in a project. That’s big. But if done right, project management has plenty of benefits for business and projects. Let’s see how:
1. Improves productivity and reduces costs 💹
The goal tied with project management is to maximize efficiency. Efficiency means to get the best quality product or service in lesser time and lesser cost. Once employees or managers are trained in managing projects, they are able to set procedures and standardize processes.
These procedures and processes make planning and defining tasks, implementation, and delivery much faster. Once they are in place, they will allow a business to increase efficiency.
2. Makes collaboration a reality 💪
Let’s say you have a video shoot to do for a client and 8 employees you want to engage for different tasks. If you don’t have a set plan about who will do what, and things are just left to be decided for the last minute, you will have an unhappy client and most likely unhappy employees/team mates.
Why? Because there’s no way you’ll have a quality video to show before the deadline (unless you do everyone’s work in a day and meet the deadline, in which case you will burn out). Knowing how to go around projects lead to clear, defined deliverables and makes collaboration easier. Plus, this way you’re left with time to make changes if any problems are identified.
3. Performance becomes measurable and improves 🚀
Once you have organized your processes, or even your team’s, it makes tracking progress easy. You know how everyone on your team performed and what the results are. This way comparison between projects, or even with competitor projects become achievable.
Since you’re tracking and measuring it, that gives you enough opportunity to change the things that didn’t work. They can serve as learnings for the future. That’s what is so great about tracking data. It paints a story you can rewrite for improvement.
4. Helps nip problems in the bud earlier ✅
Every project, department faces problems. Since there is so much involved in executing and finishing a project, it is a possibility some things don’t work out. However, once you have a defined process, it becomes far easier to identify potential bottlenecks and eliminate them.
This could be with regards to increased workload, low employee morale, client or customer concerns – pretty much anything. But if you’re trained in project management, you’re trained to adapt, so righting the wrongs when situations change becomes easier. This leads to happy clients, happy employees and happy businesses.
5. Customer and client satisfaction enhances 👏
Lastly, whether you’re a B2B or a B2C business, the end goal of your business process is to deliver well. Customers and clients, make a large part of your business revenue – so people dealing with them must be trained. If you have training in project management, you can easily manage expectations and decide on deliverables.
Moreover, as you breakdown the project for execution and assess it, you can also understand potential risks. Once that happens, it prepares you to put together a plan to mitigate those risks. If you’re not prepared, disaster descends. If you’re prepared, you can easily brush them off.
But why not be prepared? Especially when a related course is available. Now become a successful project manager as Ammarah Ahmed, Growth & Performance Lead @ Foodpanda walks you through the entire journey of initiating, planning, implementing, rolling-out, and iterating a project.
Slay all your projects, whether small or big, as an employee or a manager. Even take the course to manage your passion projects/businesses and personal and get on the road to taking a well-planned and data-driven approach for successful projects at work or life.
Let us know if this article helped identify if you, your team or business needs to revisit its techniques for managing projects. 😉