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Project Management Strategy

Updated: May 24

Introduction

Let's talk about Project Management

How to plan a project?

What makes a good Project Manager?

Management tasks of Project Managers

Project success

Success Factors of Project Management

Success Factor C-Level Management

Success factor Project Leader

Success factor Team

Success factor Goal Definition

Success factor Participation

Success factor Communication

Success factor Planning and Steering

Leading and Delegation

Leading in Projects

Delegation in Projects

Software for Project Management

The Magic Triangle of Project Management

What is the Magic Triangle?

How to Manage Time?

How to Keep Budget on Track?

Is Your Scope Still OK?


Introduction


Projects can take very different forms. Some projects run perfectly right from the start, are fun to work on, show quick successes, and are well managed in terms of time and costs.

And yes, unfortunately, there are also the others.

You hear about these projects again and again, when deadlines are not met, costs explode or there are problems with stakeholders.

Project management strategies are important for the people involved in projects to have success. Project success is related to the project management plan, the project team, the management of the project, the tools and strategies, and the resources. Furthermore, changing communication, and the structure of the project, and identifying challenges as early as possible will help the team to achieve success.


Let's talk about Project Management and Project Management Strategy


Projects are often characterized by their high complexity and uniqueness, but also by the fact that very different people come together to achieve a certain result. The success of projects is usually no coincidence, but the result of the tireless efforts of project management, project management strategy, and project staff.

In successful companies, the organization is aware of the importance of the project and that certain tasks must simply be completed on time.


Project Management Strategy Overview

If this is not guaranteed, delays or additional costs are inevitable. Projects must thus be set up properly in the company and carried out professionally.

Project management is often complex, needs a project plan, and has to take care of aspects like risks, quality, challenges, outcomes, strategies, and the performance of the project team.


How to plan a project?


When you start planning projects, it is necessary to define the scope of the project, the project management team, the project managers, the resources of the project, the milestones and risks, the expectations, the objectives and to point out who will be involved in the project.

Project planning is a very extensive process and needs to be completed in a professional way to deliver the expected results. It is also very important to focus on the outcomes, the budget, the team members and their skills, and the critical factors.


What makes a good Project Manager?

Project Management Strategy - Important aspects for Project Managers

  • A Project Manager has to develop the communications which are best for the integration of teams, employees, managers, and the team members of the project.

  • The Project Manager has to manage the project and structure the milestones.

  • The Project Manager enables the team members to participate in the project in the best way possible and creates a framework for successful project management.

  • He has to build up an internal and external structure and identify the resources and manage the integration of all stakeholders, tools, teams, and employees.

  • He needs the awareness of perceiving conflicts in an early stage to start communications with the people involved and to create the solution needed.

  • He has to establish a positive project culture to support the project team.


Management tasks of Project Managers


  • Organize and perform management tasks

  • Lead your projects profitably to the agreed goal

  • Resolve conflicts and crises in the course of the project

  • Select project staff and accompany people on their career path

  • Focus on the Magic Triangle

  • Keep everything on track

  • Communicate! Communicate! Communicate!





Defining project success

Project success


Definition:


A project is successful if the people involved in the project evaluate the quality, acceptance, and customer benefit of the project result, as well as the factors of time, costs, project atmosphere, and the consequences for the person as positive overall.






Success Factors of Project Management


Success factor for Project Management

Success Factor C-Level Management


C-Level Management is very important for the success of the project as they are highly interested in the project results. The results of a project typically influence the business of the company. Therefore, it is necessary to set up an organizational project structure that consists of different phases and milestones. In every phase and every milestone, the management has to be informed about the current performance of the project, critical aspects, and the next steps to be taken.


Success factor Project Leader


The Project Leader has a high impact on the project's success as he is responsible for the success of the project. He is in ongoing contact with the project managers and the team and has to meet the expectations of the C-Level Management. As the expectations and the outcomes of a project may change over time, he must be able to adapt to the scope of the project and assure successful project planning over the whole duration of the project.​


Success factor Project Leader

Therefore, he must be able to jump into several different roles like leader, manager, coach, trainer, integrator, supporter, or team member.

Furthermore, it is important that he can build up a good relationship with the project sponsor and the C-Level Management and that he has a high acceptance in the project management team.


Success factor Team


​A group of people goes through different phases (forming, storming, norming, performing) before a team is formed. A team is characterized by mutual understanding and support, different skills that are important for the success of the project, a sense of togetherness, and creative and joint cooperation.

Success factor Project Team

Success factor Goal Definition


​At the beginning of a project, you should always focus on the status quo and the goal of the project. This helps you in the project planning process, but also in day-to-day project management work. You can use a SWOT analysis or SMART goal setting for example or you can use questions like:


  • What is our goal?

  • Why do we wanna change our process?

  • What should happen on the way to reaching our goal?

  • What shouldn't change?

  • Why is the change necessary?


Success factor Participation

Participation is not part of the classical success factors, but it has a huge impact on the communications in the project. Participation helps you to integrate the teams and employees and to be successful as communication is a critical factor in project management. Low participation means excluding needed know-how and demotivating your team members. So be aware that you use participation on a high level.


Success factor Communication


Communication is very important for a successful project, but developing positive, trustworthy, and purposeful communication can sometimes be very hard. Project managers need to keep an eye on team communication, project communication, and also on micropolitics. They have to identify challenges of communication and use the right tools and strategies in every phase of the project to achieve project success.


Success factor Planning and Steering


If you start a project it is always a good idea to do the planning very thoroughly. It just helps you to define the project scope, to be aware of any risk that might occur, align the plan with the objectives and milestones, get an overview of the project resources, deadlines, challenges, and benefits, to implement the strategies and tools needed, and to start with the management of the project.


Leading and Delegation


Leading in Projects


Your job as Project Manager is to carry out the project and to guarantee project success. Therefore, you are responsible for the project planning, the integration of the team members, and the process of project management. In most cases, a lot of organization is needed as projects come up with many risks and challenges. But it is not your duty to take care of any tasks by yourself. Leading a project means managing the project by using the skills of your team members and completing all tasks by a team. There are different forms of leading a project team.

From my point of view, it is always helpful to focus on a leadership style that is supporting the members of the project team like servant leadership.


Delegation in Projects


Delegation is an important part of project management as you are normally not able to complete all the tasks and challenges on your own. Delegation is a classical part of everyday business and helps to assure that all the tasks are managed effectively. A key aspect of delegation is trust. You have to trust your team members that they can create the solutions needed and that they can deliver those solutions by the scheduled deadlines.


Software for Project Management


There are lots of different software solutions for project planning, project management,

budget

Software for Project Management

planning, time tracking, change integration, documentation, and scheduling anything. Modern software solutions assure that the team members can collaborate on a high level and that the people involved can get a project overview at any time without the need to talk to the project manager.​



It is always important that the software matches the needs of the project and you should always take your time when implementing project management software.



The Magic Triangle of Project Management


The Magic Triangle should be known in every project and is crucial for project success. As mentioned above, project success is not only about reaching the defined goal.


A project is successful if the people involved in the project evaluate the quality, acceptance, and customer benefit of the project result, as well as the factors of time, costs, project atmosphere, and the consequences for the person as positive overall.​


What is the Magic Triangle?

Project Management - Magic Triangle



The Magic Triangle consists of the elements of time, cost, and scope. If you are a project manager, then it is your job to balance these three elements throughout keeping budget, time, and scope within the defined frames.




How to Manage Time?


Time is a critical factor of project management as it is of high importance for the project sponsor that projects are finished within a defined timeline. Time includes deadlines, milestones, the overall project timeline, the project phases, internal calendars, and the hours worked on the project.


How to Keep Budget on Track?


You have to keep the budget on track - so you have to track the project’s available financial budget, the resources of the project, the salaries of the employees, tools, and equipment. To estimate the cost required, the project manager should analyze the data collected from previous similar projects.


Is Your Scope Still OK?


The scope of a project determines its size and complexity and includes all the work that needs to be done. Complex projects need more time and budget to complete. To keep the scope on track, the project goals and requirements should be clearly defined and documented in the scope statement from the beginning. The scope must be communicated to all team members.



You're about to start a project and need help?
Have you already started your project and got stuck?
Get in touch with us so we can help you achieve your goal!

harald@griffox.com






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