An introduction to project management – How to manage projects effectively

1. An introduction to project management – How to manage projects effectively

2. What is project management?  As we explore in our open step on defining project management, we can think of the skill as the discipline of utilising well-known principles, procedures and policies to manage a project from start to finish.  Those who manage projects often must coordinate and integrate human input and physical components within the four fundamental constraints: scope, cost, time and quality.

3. Why is project management important?  In our open step on the future of project management, we explored how, over the next decade, it’s estimated that organisations of all sizes and types will require around 88 million project managers. Clearly, it’s an area that is essential and is expected to remain so for years to come. But why is project management important?  There are several reasons why this skill is so sought-after and widely used. We’ve highlighted the importance of project management below:

4. It helps with organisation  Central to the success of any project is organisation. An effective project manager can ensure that goals are clearly defined, objectives are set, budgets are adhered to, and projects are delivered on time.  Even with the essentials of project management, you can learn to identify the strengths and weaknesses of your project plans.

5. It keeps teams aligned  Often, business projects require input from various teams and stakeholders. With good project management skills, you can ensure that everyone is aligned to the same goals. Not only does this help the project run smoothly, but it also means that the right people are accountable for their roles and responsibilities.  Ultimately, having a central person ensuring that the various teams deliver their work on time means the project is a success and meets its deadlines. Similarly, the project manager acts as a problem-solver if a particular area is struggling.

6. It allows for progress  Another key area of project management is measuring how successful a project is. For a business, this means that lessons can be learned about what works and what could be improved on.  In terms of future projects, this means that you can iterate on your success and learn from your mistakes.

7. It makes projects more successful  A survey by consulting firm McKinsey & Co found that nearly 60 per cent of senior executives felt that building a strong project management discipline was one of their top priorities for their companies as they look to the future.  The reason for this need for effective managers is that many businesses find that adhering to project management methods and strategies can help to reduce risks, cut costs and improve overall success rates.

8. The types of project management  Waterfall  Agile  Adaptive  Scrum  Lean  Kanban  PRINCE2

9. Waterfall  The waterfall project management method is a traditional approach. The aim here is to manage things sequentially. So, there is the concept and planning phase, followed by the development phase, quality assurance, and finally project completion and maintenance.

10. Agile  Those who use the agile project management methodology emphasise empowering people to collaborate and make team decisions. It’s a method that often uses continuous planning, testing and integration.  As the name suggests, those involved in agile projects must be flexible and adaptable in their work. As the situation changes, so might the workload adapt. It’s usually a collaborative effort, meaning that several people might contribute to the same area of a project.

11. Adaptive  With an adaptive project management methodology, the project scope is variable, but the time and the costs are fixed for the project. As a result, the scope of the project might be adjusted as the situation develops, usually to achieve the maximum value for the business.

12. Scrum  Those who are looking for an iterative project management style should consider Scrum. When requirements are constantly shifting, scrum project management can deliver projects in a short timeframe and gain quick feedback. When rapid responses are needed, scrum is ideal.

13. Lean  The aim of lean project management is to deliver more value and less waste. Usually, this means empowering people to create an environment where self- accountability is a priority. Similarly, concepts such as standardisation and Work Breakdown Structures (WBS) keep work streamlined and process- focused.

14. Kanban  The Kanban project management style is all about visualising workflows and minimising the work in progress. Those performing the work focus on the quality of what they’re doing while visualising the workflow, even though many tasks are being performed at once.  The plan with kanban is that everyone knows what they’re doing and what is needed from them, because all processes are clearly visible. This method also means that issues can be identified before workflows stall.

15. PRINCE2  PRINCE2 stands for PRojects IN Controlled Environments. The PRINCE2 project management framework enables an organisation to plan, manage and control a project. It’s quite a generic method, which makes it suitable for projects across all industries.  However, generic doesn’t mean outdated. PRINCE2 is based on the most up- to-date best practices in project management, which makes it a very popular choice among organisations around the world.

16.  Project management is a highly valued and in-demand skill set. By learning and developing your skills in this area, you can find work in almost any industry. What’s more, the demand for good project managers is likely to continue growing.  With a variety of project management styles and methods to choose from, you can find an approach that works for you. By developing your skills with our online courses, you can enhance your CV and find the project management roles best suited to you.