Successful Project Management

project management word cloud Project management is one of the most important elements for any small business. Many projects have a deadline, budget and expected results, but if not handled properly, the desired outcome could actually cost the business more money than anticipated, which will then negatively affect the bottom line. Our expert consultants at PADGETT BUSINESS SERVICES® have come up with these common issues that arise from improper project management that can be easily avoided.

One of the biggest issues involves a lack of clear communication when it comes to the initial set up of the project. Sometimes the communication between the project manager and client, or even between the project manager and the staff working on the project, will become muddled and chaotic. In many cases, communication issues can hold up a project before it even gets started, which sets the project itself up for failure. Creating a basic communication system and a hierarchy of who is involved with each issue can help to avoid these types of problems in the long run. This also helps to limit the amount of emails being sent around, which eliminates the potential for "lost" emails.

In this digital age, most industries are leaving paper behind and doing everything electronically in an attempt to become more organized and streamlined. Regardless of any system of communication, if there is no organization, important messages, commands and directions can easily get lost or slip through the cracks. This could cause missed deadlines, or significant aspects of the project could be entirely forgotten. By using project management software to set up the project's documents, those involved in the project will be able to see any changes or additions made, which helps to keep everyone on-task.

Concise and direct communication is a must. The project manager must be aware of exactly what each project requires and its allotted time frame. Allowing clients to continuously change aspects of the project while failing to communicate via the proper channels will only end up causing problems with the overall project, as well as preventing the project itself from being completed in a timely and cost-effective manner. Creating customizable templates for each project can easily prevent this, so that your coworkers and clients will be able to understand the cost, and therefore better determine how long it will take for a project to be completed.

When clients know exactly what they are getting, it prevents time management issues. Constant or excessive changes will make it harder to give an exact estimate of when a project will be completed, and not being made aware of how much time it will take to finish each task will directly affect the bottom line. A well-thought-out project management system will be able to track each employee working within the project to ensure that no-one fails to deliver within the projected time frame, and if this does occur, it will help evaluate if future projects should require more time.

At PADGETT BUSINESS SERVICES®, we have helped small businesses with consulting for more than five decades, and want to share our years of expertise with you. 

Do you have the support you need to manage your small business bookkeeping? Contact us to schedule an appointment to speak with a local small business advisor.