Top Project Management Techniques to Thrive in Today’s Competitive Era
To a large extent, the success of a project depends on how efficiently you manage it. Project management helps you plan, organize, and manage resources. With efficient management skills, you meet your business goals within a set timeline and budget. This post introduces project management techniques that can be game-changers for your business. If you are starting a new project consider these strategies to gain a competitive edge. Tried and Tested Project Management Techniques PERT (Project Evaluation Review Technique) PERT is a well-known project management technique. It was made by the US Navy in 1950 to manage their Polaris submarine missile program. PERT helps you estimate how long it will take to complete a particular task. You can use it to schedule and coordinate all your project tasks appropriately. How Does PERT Work? The Project Evaluation Review technique uses a flowchart that features nodes, directorial lines, and arrows. Nodes represent events whereas directorial lines highlight jobs that need to be completed. Arrows express the sequences of the activities. In short, the chart outlines the tasks needed for project completion, estimated durations, and dependencies. PERT defines four ways to estimate the time for project completion. Optimistic Time The least amount of time required to complete a job. Pessimistic Time The maximum time it can take to complete a task. Most Likely Time Assuming everything would go well, this is the best estimate of how long the task should take. Expected Time Assuming there may be problems, this is the best estimate of how much time will be needed to complete the task. PERT is an ideal management technique for uncertain projects. Waterfall If you are managing a linear project, the Waterfall technique can be beneficial. This project management method breaks down a project into sequential stages. Team members have to complete one stage before moving to the next. The waterfall method gives a clear picture of the project. It identifies dependencies before the project begins. The stages of the Waterfall method include: Analysis of Project Requirements At this stage, the manager gathers all the information about the project. It helps stakeholders to create a detailed project plan. Designing At this stage, the team outlines the design requirements. If I take the example of a web application, the design requirements could be choosing coding languages, software architecture, and interface. Implementation The team takes action as per the project planning. Verification At this stage, the manager ensures that the project follows the plan. Deployment At this stage, you launch your product to the target audience. Maintenance The maintenance phase involves making an effort to enhance the product’s performance. Kanban The Kanban technique was created by a Toyota engineer to improve the manufacturing process. It is a visual workflow similar to PERT. However, it is set up as a series of task cards. This management technique focuses on working together as a team. The aim is to put less stress on individual members. How Does Kanban Work? The Kanban board tool divides tasks across columns. They represent different stages of the workflow. The Kanban board represents the following three columns: To Do In Progress Done This project management technique helps the manager and team focus on completing tasks by limiting work in progress. The Kanban visual board provides a clear workflow overview, allowing managers to identify bottlenecks and track progress. Critical Path Method (CPM) CPM is a well-known project management method that has been used for decades. The Critical Path shows the shortest time possible for completing a project. Since each task on the critical path is sequential, a delay in any primary task would delay the entire project. Therefore, tasks are marked as Critical and Non-Critical. Critical jobs must be completed on time. Non-critical tasks are less likely to impact the project completion. Managers and team members can be flexible about them. How Does Critical Path Work? The critical path is a visual diagram that shows all task dependencies and their time estimates. This technique is quite helpful in managing projects where time is a priority. You can make a list of all the crucial tasks. Identify those that are dependent on others to be completed. Determine the sequence of tasks and estimate the duration of each task. Depending on the duration of each critical task, you can calculate the overall project timeline. Gantt Chart The Gantt Chart is another renowned method for managing a project. Managers use this chart to figure out their project tasks and their timelines. The chart comprises three components: The project tasks The start date of each task The end date of each task The chart enables you to monitor the progress of your project. It ensures all tasks follow the plan and stays within budget. Final Words These are proven project management techniques to plan, organize, and execute a project. Choose the one that suits the complexity and goals of your project. Are you planning to launch a project and need some consultancy? Contact me. As a technology advisor, I can assess the technology needs of your project and recommend the right project management solutions. I can simplify your project management process by aligning it with the right technology.
