Project management has always been a fundamental element of any business.
If the company executives don’t have a grasp of the key components of what their organization is doing, everything will go wrong. Here’s how you can take your project management strategy to a whole new level.
What Is Project Management About?
To put it simply, project management is about applying certain knowledge and skills as well as tools and techniques to meet specific project goals, objectives, and deliverables. It includes all the inputs and outputs that project managers and teams may use.
The goals that project management pursues can include anything from identifying and executing initiatives to acquiring the right people. It’s actually quite a broad term, but the concept is that project management professionals help achieve certain company goals by driving, guiding, and executing them.
How to Choose the Right Methodology?
In order to be able to execute your project properly, you must know and choose the best methodology that could be applied to it. Of course, it’s better to use hybrid project management methodologies for better results. Here are some of the most popular project management methodologies (PMMs):
- Waterfall: The project is completed in separate stages and moves one step at a time toward the final destination which is the release to consumers.
- Agile: Sprints, or short development cycles, are used to focus on continuous improvement and development of a certain product or service.
- Hybrid: This method combines agile and formal project management methodology.
- Critical Path Method: The most important tasks are identified from the beginning and performed prior to the tasks that can be slowed down and performed later.
- Critical Chain Project Management: The method emphasizes resources such as people, equipment, and physical space needed to complete the project.
When choosing the methodology you will be using in your project management, you must keep in mind all the peculiarities of a specific project. Sometimes, you will need to use one methodology while other times you will be using something else. In addition to that, don’t forget that you can combine them from time to time if the situation requires it.
What Are PMO and EPMO?
PMO or project management office and EPMO or enterprise project management office are both umbrella organizations that companies codify project management efforts under. Both of them have some notable differences and similarities to keep in mind:
- PMO: Usually doesn’t play a lead role in strategic goal alignment. It’s an external or internal group that sets directions and maintains standards, best practices, and project management status.
- EPMO: It is increasingly being adopted by companies. EPMO has the same functions as PMO, but it must also align the project, program, and portfolio activities with the company’s goals.
Both PMOs and EPMOs offer more visibility throughout the organization, ground rules for the project teams, a common language for all the team members, key indicators to measure project performance, more agility and adaptability, and the ability to identify the status of various tasks.
What Are the Key Roles In Project Management?
The positions that will have to be filled by different professionals in your project management strategy will vary depending on the project, methodology, company, team, and industry. You may need the help of such people like business analysts, schedulers, sponsors, functional leads, business intelligence analysts, and others.
To get you started, here is an overview of the three key roles in the management of any project:
- Project Manager: Plans, executes, monitors, controls, and closes individual projects. There can be one or more project managers in your organization.
- Program Manager: Oversees and leads a group of projects that are similar in nature. Project managers will usually report back to program managers.
- Portfolio Manager: The highest level of PMOs and EPMOs. Oversees the strategic alignment and direction of projects and programs. Program managers will usually report back to the portfolio manager.
What Skills Are Important In Project Management?
Project management professionals must possess a combination of technical and non-technical skills in order for the project to be a success. They must be able to adapt and find creative solutions to overcome challenges. Here are the seven key characteristics of successful project management professionals:
- Leadership: A good leader will be able to unify all of the team members and lead them to their aim.
- Communication: Communicating well with your team members is essential for the coordination of all the tasks.
- Motivation: Being motivated means that you will not only find ways to keep pushing on but will also be passionate about the project.
- Organization: In order for everything to go smoothly, a project must be well organized with everyone doing their job.
- Problem-Solving: Solving problems and overcoming unexpected challenges is crucial for your project to be a success.
- Adaptability: Adapting to a new environment will help you stay up-to-date with the latest conditions and keep evolving.
- Prioritization: It is very important to prioritize your tasks and do the most urgent ones at the beginning.
To sum up, project management may seem like something unimportant but it actually plays a major role in the processes within any business. Follow the tips in this article to make your project management better and more effective.