Project Management 101: The Art of Herding Cats
Project Management: Is it REALLY for me?
Think about that word – “Project”. What’s the first thought that comes to mind? Is it construction? Is it software? Is it engineering or manufacturing?
If the first thought that came to mind was technically related, that is not surprising. Project management is often viewed as a skill set & capability required of engineers putting up large buildings or ‘geeks’ developing software.
In today’s rapidly changing and fast-paced world, the reality is very different. Leaders recognize the critical role that project management expertise plays in achieving success. A study by the Project Management Institute revealed that 90% of senior executives believe project management is essential for business performance and organisational success. Furthermore, 97% of organisations consider project management crucial to their performance, according to a PwC study. These statistics underscore the significant emphasis that business and organizational leaders place on their teams possessing strong project management capabilities.
Project Management: OK it is for me, but it’s just common sense, right?
A recent study found that 80% of employees have managed a project, even though ‘project manager’ is not part of their official job title. The same study noted that 91% of employees say their company is facing project management challenges. These two statistics are very telling – the majority of employees are being required to run projects as part of their normal, operational roles, but do not seem to have the required skill sets & expertise to do so.
So What? Project management capabilities are crucial to the success of any business or organization, no matter their size, but most employees do not have any formal project management training.
In this article I will provide an overview of project management and its importance, with practical insights for both business owners and managers in large organisations.
What is a Project?
A project is a temporary endeavour undertaken to create a unique product, service, or business result. Projects have a defined beginning and end, specific business or organizational objectives, and must be managed within constraints such as time, cost, and resources. Unlike routine operations projects are time-bound and goal-specific, and therefore require careful planning and execution.
What Roles Do Projects Play?
Individual projects often serve as the building blocks for achieving a business’s or organization’s strategic goals. Across any small business or a large organization, projects enable teams to innovate new products, services or markets, to improve efficiency via new technologies, system or business processes, and to address challenges that impact their growth or success.
What is Project Management?
Project management is the process of planning, organizing, and managing resources to achieve specific goals within defined constraints like time, budget, and scope. Successful project management ensures projects are completed on time, within scope, and on budget. Project management provides all parties involved – e.g. project manager, client, contractors, vendors, etc. – with structure, an ability to manage multiple (and often conflicting) stakeholder requirements and risk mitigation, all of which are key to achieving project success.
What are the Key Steps of Planning and Managing a Project?
Every project, irrespective of size, industry or sector, budget or complexity, will undergo the following key steps.
- Initiating: Defining the project’s purpose & objectives, confirming its fit with business goals, determining the project’s feasibility and gaining approval to proceed.
- Planning: Developing a detailed roadmap outlining project scope, timelines, resources, and budget, setting clear deliverables & milestones, and defining roles and responsibilities.
- Executing: Launching the project, coordinating tasks & resources, managing internal & external teams & stakeholders, and ensuring the project stays on track.
- Monitoring & Controlling: Regularly tracking progress against the plan, and where required, adjusting timelines or scope, managing resources or budget to stay on target, and fighting fires as they arise.
What is the Role of the Project Manager?
The project manager is the one person responsible project success, leading the project from start to finish. This includes leading the planning, execution, monitoring & controlling, ensuring the project meets its objectives and is completed on time and budget. The project manager coordinates team members & manages resource allocation, communicates with all stakeholders, and solves the numerous problems that arise.
What are the Most Common Reasons Projects Fail?
While there are several factors that can contribute to project failure, the inevitable outcome of project failure is delays, cost overruns, or incomplete project objectives. Some of the most common reasons for project failure include:
- Unclear Objectives: If project goals aren’t clearly defined & agreed to by stakeholders before the project commences, it is almost impossible for project managers to deliver success.
- Poor Planning: Without a clear, detailed & realistic plan, the project will lack direction, resulting in poor decision making, inefficiencies and missed deadlines & budgets.
- Inadequate Resources: Whether it’s budget, time, or personnel, insufficient resources can cripple a project.
- Communication: Poor communication between project manager, stakeholders, teams, and external parties, will invariably lead to misunderstandings and errors.
- Scope Creep: When the scope of a project expands beyond the initial plan without adjustments to budget, time or resources, it can derail the entire project.
About the Author
Raiyo Nariman is a Kiwi based in Asia and working across the region, with over 25-years of commercial leadership experience. Raiyo has created, built and led numerous businesses, growing them across multiple Asian markets, in both entrepreneurial & intrapreneurial capacities, as CEO, MD, Director & investor/shareholder. He has invested, established and led businesses in New Zealand, Hong Kong, Malaysia, Singapore, while servicing clients and engaging strategic partners globally.
Within the arena of project management, Raiyo has delivered training engagements & Diplomas in Project Management for leaders and managers in both private and public sectors, for over two-decades. Raiyo has also delivered numerous advisory engagements for clients seeking to enhance their project management practices, including the design, development & implementation of Project Management Offices (often from scratch), and the ‘rescue’ of failing projects & large programmes of work. Clients have included some of New Zealand’s largest private companies, and government agencies responsible for taxation, land management, national infrastructure, research and innovation, education, and social services.