Having a smart project system is the key step before an actual project takes off. However, there are other important factors that contribute largely to a project’s outcome. It takes careful planning, attention to detail and effective communication to make a project succeed. With vigilant management in place and a strong project alignment of interest, a project can consistently achieve success.
1. Right Dynamics. Same Vision
Right People. Right Team. Right Management. Right Board Members.
Without the right dynamics in place, any strategy and plan have the potential of completely falling apart. Because of this, the core project staff, expert resources, suppliers and all stakeholders should be part of the team dynamic. All of those involved must have a commitment to the group, share similar visions for the projects and strive for overall success in a win-win-win attitude.
2. Comprehensive Planning. Diligent Execution
Comprehensive planning sets up a project for success from the start. All major stakeholders should be on board during the planning process and always know in which direction the project is going to go. Planning can help the team to meet deadlines and stay organized. Good planning not only keeps the project team focused and on track, but also keeps stakeholders aware of project progress.
There are many benefits to being comprehensive in your planning. This first step in the project process allows for a reliable and realistic time scale to be created. Assuring accurate time for cost estimates to be produced and for clear documentation of milestones and deliverables will make things much easier as the project progresses. A proficient plan details all resource requirements and doubles as a warning system. If task slippage is at risk, then a warning system will provide clear visibility of what to expect.
Project managers can face serious trouble if inadequacy is present within the team. Inept leadership or an out-of-sync team can send a project towards failure. It is important to assign the right experienced consultant to each aspect of the project and make sure that they are working well together. Additionally, the entire team should be completely informed and involved in order to have the most successful outcome, which means that communication has to be on par.
3. Transparent Collaboration. Effective Communication
Looking closely at details and listening to 3rd party sources of information is vital to the success of a project. Keeping communications and transactions transparent within the Project team is absolutely essential and crucial, especially to Joint Ventures. When working under a specific timetable, it is important that the Project team, as well as the Stakeholders, remain well-informed. If a problem arises on one part of a project, it can be quickly arrested and rectified before it negatively impacts other parts. Effective communication is the best way to prevent problems from occurring.
Communication should also be focused internally within the organization. Keeping an organizational history of major projects will give convenient access to improved policies and business processes. If this isn’t done, then a team may repeat mistakes that have already occurred, especially in different countries, different types of projects. Listening to stakeholders and paying attention is a very important ingredient for success.
Good communication also includes knowing when to say no. A project team should never promise anything they know they can’t deliver. Saying no, in the beginning, could save an overabundance of unnecessary problems later. Always be honest about what your team can do and when it can be done by. Keeping an unrealistic dateline will result in a quality drop and force field workers to commit undesirable short-cuts. Improving communication between all your project participants is one key to a successful project.
4. Risk Prevention. Efficient Management
Prevention is always better than cure. During the planning process, it is vital to produce a risk log with an action plan for the risks that the project could face. Make sure all key stakeholders are aware of your risk log and know where they can find it. If something happens, then the team can quickly resolve the issue with the management plan that has already been set in place. This will give the team confidence when facing project risks and help the stakeholders feel comfortable with the project’s progression without incurring the excessive cost and overblow the budget.
Having a central online database of project information is vital to ensure nobody loses crucial project momentum during the project, but also in the event of losing key participants, you can quickly get your new team members up to speed. The efficient management of team members, can avert unnecessary risk and delay, and provide a smoother transition from stages to stages.
5. Smooth Closure. Successful Venture
If a project does not have smooth closure, then it has the potential to continue to consume additional funds, interest and funding resources.
One successful venture will lead to the next. Every project will have reduced risk, mistakes, unforeseen circumstances and result in better, more efficient project closures and success for all stakeholders.