In any company, no activity, no matter how minimal, is improvised; hence the importance of project management, an administration methodology that consists of carrying out a series of processes to achieve a final objective: the project.

Your boss may ask you to do something in a certain amount of time and with limited resources; When that happens, you should know what the phases and methodology of the process are. Have you ever wondered what the importance of that is?

Are you interested? Keep reading.

What is project management?

Projects management

In simple terms, project management is nothing more than a series of methodologies applied to a situation with the sole objective of planning and directing a certain project.

Simple as that!

Now, a project is much more than “something your boss or client asked for”; we are talking about a series of specific operations carried out to achieve the objectives set from beginning to end.

Although, each project seeks to achieve specific objectives , project management also; in this sense, look for:

  • Manage the development of the project from start to finish.
  • Control problems that may arise.
  • Facilitate project completion and approval.

That is, the objectives that are sought to be achieved with project management are different from the general objectives of the company ; In this sense, you must meet with your team and determine the specific goals you want to achieve in this specific case.

To carry out good management, you must take into account various factors, including:

  • Possibility for the project to grow.
  • Importance.
  • Task complexity.

To know if you met the objectives set for the benefit of the organization, you must analyze:

  • Results.
  • Consequences.
  • Strategic benefits or objectives.

Also, to manage your project effectively you depend on three key points; as are time, cost and scope that together form what in management they call “Project Management Triangle”, which acts as follows:

  • The scope seeks to specify each stage of the project’s development.
  • The schedule in which you must present results and achieve the desired objectives.
  • The cost or budget obtained at the beginning of the project.

Think of it like this !! The scope determines how far you can go and, if it is too far, you will invest more time and increase the budget allocated for your project.

Phases of project management

phases-of-project-management

If you want your project to be successful, you need to make sure you go through the following stages:

Feasibility analysis

The premise is simple: you must analyze if your project is viable to continue with the management. The first thing you should do is study what benefit the company will obtain with this project taking into account time, resources and cost.

In order to do a good feasibility analysis you must have:

  • A business software to keep track of the project.
  • A preliminary analysis of the scope.
  • Analyze execution risks.
  • Analyze the benefits according to the expected cost, the feasibility of delivering within the determined deadlines and the quality.

Planning

At this point you should focus on detailing the tasks and resources necessary for the fulfillment of each of them . Define them clearly! Or else you can have negative results that will harm the rest of the process.

It is very important to know the workflows since these are the veins through which the blood of your project runs, and you will be able to know them if you have important software analysis tools from the first moment.

Crucially it is important to keep those workflows under control so that this way you can control the working times of your team, manage all their tasks and control delivery times.

Plan, visualize and control with software management tools that are flexible and intuitive.

For greater precision make sure to:

  • Analyze the scope.
  • Have estimates, costs and resources on hand.
  • Define a plan.

Execution

Is the moment to act! In this point You must take out all your arsenal of business management techniques and methods, which you have at hand and any tool that allows you to automate the report during management.

Keep in mind that problems are usually presented here. At this stage we have to:

  • Define the work environment.
  • Assign and execute tasks.
  • Manage requests.

Monitoring and control

We move towards one of the most important parts of the project, where you verify that everything works as it should work : the follow-up.

Here you should focus on two things: meeting objectives and exceeding expectations ; To do this, you must focus on four key aspects:

  • Tasks and milestones.
  • QA.
  • Management of incidents.
  • Monitoring report.

Closing

This is also the place for failure analysis What should you do? Simple, you will have to take care of evaluate and verify that everything has ended better than the one raised on paper .

Evaluating this is very simple, just make a checklist and review the following.

  • Formal closing.
  • Carrying out the backup.
  • Analysis of results.
  • Upgrade.

Why carry out project management?

project-management-in-progress

Importance

The importance lies in the benefits that project management can bring to your company ; among which we can find:

  • Ensure effective management of time and resources.
  • Control over the future of the organization.
  • Guarantee of success.
  • Achieve great learning margins.

In this sense, project management (despite being a branch of the administration) has a scientific rigor where thoroughness, information and experience are key to the process.

Likewise, it is a key process for the administration and business planning of any company.

What are you waiting for to carry out your project?