In my previous blog post, I highlighted the alarming rate of project failures and emphasized the critical role of a capable project manager in improving success rates. Effective project management is indispensable for achieving project objectives within time and budget constraints. Unfortunately, many project managers fall short, lacking the necessary skills and responsiveness during crucial project phases. In this blog post, I will discuss the fundamental elements of practical project management that will help you excel in planning, resource management, budgeting, and timeline adherence. You do not need a PMP for this, and it is also not a fight between Agile and Waterfall; this is common sense.
- Integrated Project Plan:
To ensure project success, it is crucial to create an integrated project plan right from the project’s inception. In cases where you join an ongoing project without a plan, take the initiative to develop one. An integrated project plan should encompass the entire project scope and involve all relevant teams. Avoid the temptation to rely on multiple project plans, as they complicate management when issues arise. Utilize project management tools like Smartsheet, an affordable option, to streamline the planning process. - Issue List:
Every project encounters issues along the way. Establishing an issue list from the outset and maintaining it regularly is vital. Each issue should include key details such as priority, status, owner, and resolution date. Appreciate the value of this list, especially during critical moments when time is of the essence. - Scope Document / Feature Backlog:
Integrating elements of product management and agile methodologies, create a feature backlog to track project scope and requirements. This document becomes especially important for large projects involving multiple cross-functional teams, providing visibility on which features will be included in Phase 1 and which will be deferred. Regularly update and maintain the feature backlog, as it is a core responsibility of the project manager. - Progress Scorecard:
Executives often require updates on project progress, focusing on high-level information and percentage completion. Develop a progress scorecard that highlights meaningful milestones. Instead of merely dividing the project into stages (e.g., planning, design, build), structure it around capabilities (e.g., Capability X, Y% complete, Z timeframe to deliver). Keep the scorecard simple and avoid unnecessary automation; manual maintenance is preferable. Avoid complacency and be diligent in your role as a project manager. - Project Status Report:
A project status report, commonly presented using a stoplight (Red, Yellow, Green) format, is essential. However, its effectiveness depends on having the aforementioned elements in place and functioning effectively. While the status report should not consume excessive time, ensure that you address tactical issues promptly. - Daily Call:
Conduct a daily stand-up meeting with key project stakeholders. Limit the attendance to individuals critical for project success, avoiding overcrowding. During the meeting, review the project plan and discuss any outstanding issues. Focus on identifying and resolving blockers that hinder progress. As a project manager, maintain an active role in this call and hold your team accountable for delivering on committed milestones.
While there are numerous other aspects to effective project management, the fundamental elements discussed above provide a solid foundation for success. As a future CIO, it is imperative to prioritize the recruitment and development of competent project managers. The vision and strategy of your organization heavily rely on the execution of projects, making the presence of capable project managers essential. Never compromise on the talent that drives successful project delivery.