Project Management

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Every project should be managed properly in order to achieve the desired results. Nowadays, ‘project’ is called every set of tasks that need to be fulfilled in specific order to get a specific result. Projects could be fairly simple, and in this case, one single skilled Project Manager is enough to handle it. On the other hand, projects can be very complex and involving many parties with different interests, and in such cases, they need to manged by a Project Management Team.

Timeline, Stages and Milestones of a Project

The very first stage is to identify the project requirements and scope, thus defining exactly what end result should be achieved. Then the time planning starts with detailed definition of tasks and subtasks, followed by a detailed analysis of all resources needed – required budget, workforce, equipment, hardware and software, expertise and know-how, methodology, etc. Formally described, this will become the requirement and the task description for the project implementation team.

It is a well-accepted best practice to put the project timeline in a Gantt chart, where all milestones are clearly defined. Those milestones are the intermediary project results, against which the stages/ activities that have been completed can be identified, and if fulfilled successfully, can be accepted as done. After a milestone is completed, next stages/ sub-stages are opened and new project activities are launched.

Project Manager, Project Team and Project Partners

You need a skilful and experienced Project Manager, possessing to the needed extent a set of qualities, that will guarantee your project will be managed properly. As an example, those could be:

Hard skills:

  • Industry knowledge
  • Knowledge on all tools and technique required for the project specifics
  • Budgeting
  • Planning
  • Reporting
  • Monitoring
  • Risk management, etc.

Soft skills:

  • Decision making and management skills
  • Leadership, Collaboration and Cooperation
  • Communication skills
  • Time management
  • Conflict management
  • Negotiation skills, etc.

He is the key person and has the overall responsibility for the successful project implementation and shall be capable to effectively keep constant Focus on the Project Objectives while mitigating possible Risks.

Project Budget

Preliminary detailed analysis and correct estimation of all stages, steps and activities will lead to a correct estimation of the budget which is a key prerequisite for a successful project. Underestimation can put the whole project at risk, while overestimation will put aside financial resources, that could be utilized for other projects. Success in terms of budget is when the project fits closely within the estimated budget.

Project Equipment needed

The abovementioned detailed analysis will provide information what equipment will be necessary to successfully implement the project – machinery, tools, building space, open space, hardware, software, etc. From budget prospective, the required equipment sometimes can be quite expensive and this should be carefully reflected. From time management prospective, sometimes the delivery of equipment can take months, which shall be taken into account when preparing the timeline of the project.

Go-live, Support and Maintenance

Project Go-Live is the date, when the project becomes operational – the project tasks are completed and the result is achieved and accepted. The next stage is to support and maintain the project delivered, so it runs smoothly over time.

Further Development

Projects after Go-live can be developed further – new functionalities can be added, recourses can be increased, new products or services can be developed, etc.