2011-11-04 00:00:00GeneralEnglishhttps://quickbooks.intuit.com/in/resources/in_qrc/uploads/2017/05/ProjectMgt1.jpghttps://quickbooks.intuit.com/in/resources/general/project-management-smart-business-approach/Project Management — A Smart Business Approach

Project Management — A Smart Business Approach

2 min read

Growing your business is always uppermost in your mind. However, it involves massive granular level planning — acquiring new clients, scaling-up operations, building infrastructure, increasing visibility amongst existing and target clientele. All these and more such requirements can leave any organisation, small or big, quite overwhelmed and lost. A very scientific way to approach this mammoth task is through Project Management. Big management thinkers have defined Project Management to be the science of planning, organizing, securing, and managing resources to achieve specific goals. In simple language, it is the science of getting things done within a specified time and budget. Now think for your business – aren’t there enough activities in your business that is waiting to ‘get done’? Chances are that these activities will have a distinct deliverable and a clear beginning and end. As project managers for small business you need to be able to do more with less, and the best way to do this is to modify your process down to the necessary components for the particular project. Doing more with less means that you do not compromise on your standards of project management and good practice, you just apply them in a way that fits. So how can you get started? • Identify and prioritise the tasks for your business • Assign every task to a project • Identify the goal of the project • Assign resources • Specify start date and end date • Communicate effectively to the team who will handle the projects about their deliverables and timelines. Make sure that they have the right skills to take the project to its completion. • Implement the plan • Monitor and control the project at every stage until completion   Once your business masters the elements of project management, you will find: • Your team can start to work together without having to designing the way as they know and understand a common project management process • They act as confidence builders and goal accelerators • It gives valuable insights and historical knowledge. When properly documented, these learnings can be automatically applied to another project, thus saving precious time and resources • Your business gets a framework that makes it achievable for people to move from vision to action with a comprehensive project plan that supports their objectives • You can capture best practices and know what is and isn’t working for you, giving you a competitive advantage by turning information into insight that your team can immediately apply to the next project.   Project management is a powerful business tool for businesses of any size. And most importantly, being effective and efficient is never about size – it’s about working smart. Project management helps you achieve that.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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