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5 Ways to Use Project Management to Grow Your Business

Using Project Management, Defining Project Goals, Delegate Roles and Responsibility, Identify Potential Risks, managing your team effectively

For a company to grow consistently over the years, it’s important to always keep innovating and bringing new solutions to the market, whether it’s a digital product or a service, or a new line of physical products that you can sell both online and offline. To innovate or even to improve upon past iterations of products and services, a company needs to hire competent project managers who will employ the knowledge, leadership, and experience necessary to take the company forward as a whole. 

This is why project management is so important in the modern business world, and why you need to perfect this process in order to make your company grow on all fronts. Today, we’ll be taking a look at the most important pillars of successful project management, and how you can make all projects more productive, efficient, and successful in the long run.

Define Your Project Goals And The Project Scale

The first and most obvious step all project managers should take is to define the goals of the project, as well as its scope and scale in order to put the project itself into perspective and create an outline that will allow them to bring in the right team members, set up the workflow, delegate, and integrate the right tools for the job. It’s imperative that every project has one or more SMART goals, because making your goals specific, measurable, attainable, realistic, and time-bound is the best way to make sure that your project is on track and is making incremental progress every single day.

This is important no matter if you’re trying to boost the efficiency of your marketing, or if you’re trying to innovate physical products, or even if you’re trying to create better marketing strategies and roll out more powerful campaigns. Once you have your goals, you can really get a bird’s eye view of your entire project and start assembling your team and organizing the workflow for maximum productivity.

Delegate Roles and Ensure Accountability

One of the common problems that many project managers face is finding the best talent for each role within the project, which often forces them to assign roles to the next-best team member or someone who requires further training and education to fully understand the part they’ve been given in the project. If you’re short on experienced employees for every role, don’t be afraid to bring in outside help, or outsource parts of the project to an agency or a remote freelancer. 

The key is to manage your team effectively and make sure every role is assigned to the best possible employee, otherwise the whole project can start to stagnate quite quickly. When you’re assigning roles, you have to ensure proper accountability for all work done in order to avoid setbacks and misunderstandings within the team. It’s important that all team members know exactly what their job entails, what they need to deliver, and whom to communicate with. You can make this easier with the right project management tool, which is our next crucial point.

Image source: https://www.rawpixel.com/image/2020170/diverse-creative-business-team-planning

Integrate The Right Project Management Tool

One of the most important prerequisites for a successful project lifecycle, especially in the modern business environment where projects are more complex than ever before, is having the right software for the job. It’s important that the tool you choose has all of the necessary features that will allow your team members to work together seamlessly on all projects, so make sure to opt for comprehensive task management software that allows performance and time tracking, file management across multiple projects, performance reports, and more.

The key is to have as many intuitive features at your disposal as possible that will allow you to manage tasks and projects in real-time and in a centralized location so that all employees (even from different departments) are kept in the loop at all times. Be sure to compare different tools and their features beforehand, and look for honest reviews and testimonials to check if other customers are satisfied with their purchase.

Enforce a Strict Communication Policy

Another common problem that project managers face is the lack of communication hierarchy. Many a time, employees simply aren’t sure whom they should include in an email or a group chat, or whom they should bother when they encounter a problem or a roadblock while working on their task. Sometimes, they should bother you, the boss, but most of the time they should bother their peers and team leaders. To avoid having to redirect their queries to the right team member, you need to introduce a strict communication policy, a reliable communication tool, and a clear hierarchy that will tell every team member whom they should communicate with on a daily basis.

Identify Potential Risks Ahead of Time

Finally, a good project manager has to know how to ascertain risk factors, create risk assessments and forecast for the whole duration of the project, and then minimize risks and setbacks as much as possible. It’s important that you do this well ahead of time and take the necessary precautions, but it’s also important that you continue assessing risk factors throughout the project in order to stay flexible and agile and adapt at a moment’s notice.

Wrapping up

Project management is one of the crucial processes in every growth-oriented company, so it’s important to optimize it for maximum productivity and efficiency. Be sure to use these tips to take project management to the next level and take your company forward as a whole.


Jolene Rutherford

 

Jolene Rutherford is a marketing specialist – turned blogger, currently writing for technivorz.com. Interested in digital marketing and new technology trends. Love sharing content that can help and mean to people.

 


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Using Project Management To Plan and Execute Your Work


 

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