7 Smart Tips For To Manage Business Projects Efficiently     

Business Projects

Managing projects doesn’t have to be difficult, especially when there are different business solutions to help in different stages of project development. 

If you are a project manager, you have to manage the team members and resources of the project while ensuring that the project stays on track. You can leverage different training programs to gain the expertise required for better project management.

Many individuals undergo Six Sigma Green Belt training to learn how to manage process improvement projects efficiently. It grooms them with the necessary skills and industry knowledge to reduce the risks in existing processes and magnify the output. 

If you are responsible for managing any project, these seven clever tips will help you efficiently manage business projects.

1. Create a project plan

Managing a project involves handling a lot of moving parts. From dealing with different project stakeholders, gathering requirements to manage every stage of the project development process efficiently, you can quickly get confused and lost. Thankfully a project plan brings stability to your project. 

Creating a project plan should be the first essential step you take as a project manager. A project plan includes the statement of work, list of resources, project objectives, potential risks, key milestones, deliverables, project timeline, etc. 

This information makes it easy to manage everything and achieve synergy between different tasks. The plan maps the guidelines of how your project will pan out during its lifespan.

2. Assemble your team

A great project requires a great team to complete it with flying colors. Understanding the project requirements will help you choose suitable candidates for different project roles. 

Always consider the individual’s talents and expertise while assigning responsibilities to them. Make sure their abilities are aligned with the project needs. It won’t make sense to assign a software tester to the development team. 

It’s also essential to ensure that the team members understand their responsibilities and tasks. Remember to help them out by solving their doubts and answering questions, if they have any. 

Be open to suggestions and inputs while assigning roles and responsibilities. Discuss the different aspects of the project plan with the team and keep everyone in the loop for updates on the project.

3. Set SMART goals

Setting the goals is the first step towards achieving the goals. You cannot finish a project in time without knowing what you need to do. 

SMART stands for Specific, Measurable, Achievable, Realistic, and Time-bound. Setting SMART goals is essential to give your project the highest chance of success. 

Put simply, don’t be that manager who thinks nine women can deliver a baby in a month. That would be unrealistic. Understand the individual’s capabilities and set goals for them accordingly. 

It’s also crucial to set quantifiable goals that can be measured with different metrics. Make sure you determine these metrics and key performance indicators during the project planning phase. It will help you measure real growth.

4. Effectively manage your time.

You can lose track of time when you’re submerged in work. As a project manager, it’s your responsibility to ensure each project is completed within the assigned time limit. 

The project plan includes the project’s timeline and set time limit for each task, so ensure that each task is complete within that time limit.

The time consumed by the smaller tasks such as team meetings, requirement changes, miscommunication is often neglected from the plan. Creating a task list of smaller tasks can help you keep track of time and finish the project on time.

5. Maintain the necessary documentation

Each phase of the project development generates different documentation that is essential in the project lifecycle. From the initial requirement gathering phase to the development phase and the project launch, you need to maintain documentation for each stage. Some of the essential projects documents are,

  • Project proposal
  • Project charter document
  • Project management plan 
  • Project schedule
  • RAID Log
  • Status report
  • Budget tracker
  • Review document
  • Closure document

6. Train your team with additional resources

Some projects need additional expertise on a particular aspect of the project. As a project leader, you need to train your team members with different training programs as per the need of the project. 

For example, providing Six Sigma Green Belt training to your team members will reduce the risks and errors from the project while ensuring the business processes are made efficient and robust. 

7. Manage potential risks

Risks can emerge at any time during the lifecycle of the project. You can run out of budget, or your lead developer might leave for a better opportunity. 

Such project risks need to be identified at the earliest. Creating a list of potential risks and the strategies to prevent and mitigate those risks will help you manage them efficiently, should they arise. 

Any project is bound for success with a strong project plan, skilled team members, and reliable leadership. As a leader, you need to make the best decision to help your company finish the project on time and set the benchmark for future projects.


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