Blogs on Operations and Project Management

It’s not you, it’s me. Stakeholder management realities we must acknowledge. Remember that time you had a client that nearly made you apocalyptic? You know, the one who offered vague project goals, endlessly changed their mind, and provided inputs after the deadline. Or the time when your project team wound up with “too many cooks in the kitchen?” If you’ve worked as a project manager, you’ve undoubtedly encountered at least one of these scenarios. How did this happen? I found myself asking this question repeatedly, especially when I worked in the Account Service at marketing and advertising agencies. I’d be assigned a client, review the original business development RFP and pitch, be provided a core project team based on anticipated scope, then host a kickoff/discovery meeting. Everything would kick off “by the book,” then BAM! Confusion, frustration, misaligned expectations. In my experience, this usually occurs during the Execution phase when it is time to actually produce the deliverables, but it can happen anytime (and multiple times) throughout a project. Before you meet your team at the water cooler to grumble about your nightmare client, take a breath. I’ve found that many times when I instinctively wanted to blame my client for project dysfunction, it was something I could have managed more closely, lessened the severity of, or perhaps even avoided altogether. Here are some crucial artifacts that need to be a touchstone for your projects. These will help you manage expectations and create transparency about roles and responsibilities.   These can sometimes seem like a grind getting everyone onboard, but trust me — these will save you some headaches and provide an objective reference document as you navigate stakeholder management. Don’t forget to return to these documents throughout your project to revalidate accuracy and to ensure everyone remains on the same wavelength. Templates linked below. Project charter Stakeholder matrix (Another tool for more ongoing analysis is Airtable. It’s user-friendly and syncs with Asana.) Meeting agenda Asana (Project management tool I strongly recommend. This is also the tool used throughout the Google Project Management Certificate courses). Here’s the reality: Stakeholder management is tough! It’s nuanced and dependent not only on relationships and connections, but also on trust, expertise, and individual stakeholder agendas. Keep learning and try to stay in the mindset of improvement rather than blame others (this is easier said than done)! Intrigued about the organized world of Project Management? Now that your interest in project management is piqued, your next question might be: Where can I learn about project management? If you’re a project manager or a team leader who’s facing such issues, you might want to know about the world of project management where similar problems exist—and are solved. We can help with that. Project Management Essentials You Always Wanted To Know equips employees transitioning into project management roles with the essential information they need to handle major, large-scale projects. You’ll learn how to plan and initiate projects using the WBS system and how to successfully execute them, with a final project closure at the end. Don’t worry if you’ve not heard of these terms and are feeling overwhelmed by their seeming complexity—just read this book to find out everything you need to know about Project Management.

Every day of your life you apply the phases of project management, whether it’s a DIY project, e.g. painting a room, remodeling a house, or planning a birthday party. Though the complexity, budget, and timeline vary, each of these activities equip you with underlying skills that are essential to successful project management. Ok, so what are these phases? And, what are these skills? Unless you’re studying project management terminology in a formal course, it’s likely you’ll think of Initiation as “starting something new,” of Planning as “planning how to do the thing you’re starting,” Execution as “doing the tasks” outlined in Planning, Monitoring and Control as “seeing if things are going well, making sure tasks are being completed, and if not, making adjustments,” and Completion (or Closing) as “dotting the i’s and crossing the t’s.” Now for the skills you learn by pretty much just being an adult. These aren’t neatly situated within phases. They are, however, recognizable. Here are some top skills you learn and continuously hone as you’re planning parties, completing DIY projects, or working on a set of tasks with others that culminates to a unique, time-bound endpoint. Stakeholder management (This is the industry way of saying “getting key people onboard, bringing them along, and managing and delivering on expectations.) Written and oral communication Organization (and finding what works for you) Time management and prioritization Critical reading (understanding project details, what your tasks are specifically, and what is needed for a deliverable) Flexibility and adaptability (This is more evident in certain project management frameworks, e.g. Scrum as opposed to Waterfall, but you’ll be hard-pressed to work in an environment where there isn’t a hybrid of these two.) Budget management and expense tracking Collaboration and teamwork Project management tools, e.g. Asana Does all this sound familiar? It should. Why? Because you already know more than you think about managing projects. However, it’s not enough to stumble upon these skills or simply work your way through projects and project tasks. Intentional and strategic application of these skills along with acknowledgment of which phase of the project management process is crucial for long-term success, especially when you’re leading teams. I’ve worked with individuals who have a laundry list of credentials, yet lack the finesse and understanding of nuance required to truly gain buy-in and succeed at being a stakeholder manager. To translate what you already know into a formal grasp of project management, start with the basics and resist the temptation to say, “I already know that, so I’ll just skip this section.” Even if you know some of the industry basics and can envision how you’d put this into practice, reinforcement is important. Similar to one of the greatest movies of all time, Karate Kid, we must muscle through painting the fence or “wax on, wax off” to actually learn. Here’s an example you may take for granted. Imagine the  Initiation phase or, as we referred to as “starting something new.” Pop quiz! How do you actually know you’re starting a project? To make a career out of project management you’ll need to be able to articulate this. The Project Management Institute (PMI) should be your primary resource. In the example above, this is their definition: “All projects are a temporary effort to create value through a unique product, service or result. All projects have a beginning and an end.” Here is a glossary of project management terms provided by PMI that will help you on your journey. Ultimately my advice is to approach project management knowing you’ve already acquired some skills, be disciplined in learning about the methodologies, terminology, and industry best practices, and be humble enough to acknowledge that successful project management is both an art and a science.  Intrigued about the organized world of Project Management? Now that your interest in project management is piqued, your next question might be: Where can I learn about project management? If you’re a project manager or a team leader, you might want to know about the world of project management where similar problems exist—and are solved. We can help with that. Project Management Essentials You Always Wanted To Know equips employees transitioning into project management roles with the essential information they need to handle major, large-scale projects. You’ll learn how to plan and initiate projects using the WBS system and how to successfully execute them, with a final project closure at the end. Don’t worry if you’ve not heard of these terms and are feeling overwhelmed by their seeming complexity—just read this book to find out everything you need to know about Project Management.  

For those looking to transition into Supply Chain jobs, the wide range of career choices available might seem daunting. The field of supply chain management is composed of several functional areas and diverse interconnected activities that span across disciplines. We talked about some of these functional areas and the specific skill sets required in Operations and Supply Chain Management Essentials 101. In this blog, we’ll explore some of the exciting career options that are available in supply chain and operations management. We’ll also take a look at the courses you can enroll in if you’re interested in pursuing a career in supply chain management. Quick links in this blog: Supply Chain Management Career OptionsList of Courses That Will Help in Supply Chain ManagementHow Operations and Supply Chain Management Essentials Will HelpHow to Order Operations and Supply Chain Management Essentials You Always Wanted To Know Supply Chain Management Career Options The Covid-19 pandemic affected the way supply chains usually functioned. With disruptions across industries and across the world, several core operations were temporarily suspended. However, as industries started to churn pre-pandemic levels of output, supply chains resumed their natural course. Hiring across supply chain operations has picked up its pace and is as active as ever. As Robert Bowman states in The Supply Chain Industry’s Dilemma: Great Career, Too Few Candidates, “The supply chain needs people. Desperately.” In the UK, for example, the Logistics industry is suffering from transportation shortages due to the pandemic, as stated in a news report by Bloomberg.com. Given the increasing importance of supply chain and operations jobs, let’s take a look at some of these career options that you can pursue in supply chain operations management. Supply Chain Analyst A supply chain analyst is involved in planning, managing, and executing major, large-scale projects. This job role consists of collecting relevant data from across sectors and analyzing the data to bring about improvements to the supply chain system. It also encompasses creating systems to gather data and identifying problem areas to cut down on inefficiencies in the supply chain. A supply chain analyst oversees inventory shipping processes and develops standards for areas like packaging and delivery. For this role, job seekers require an analytical mindset and basic knowledge of logistics and supply chain management processes. Knowledge of project management is also required in order to handle large volumes of data and processes spanning multiple departments, both within and outside the organization. Operations Improvement Operations improvement refers to optimizing the operational processes and procedures of the organization. Operations and Process improvements are carried out in organizations to identify areas that can be improved. The job of an operations improvement professional is to restructure policies and execute improvements in internal processes so that the outcomes are achieved in a timely manner. This job role requires individuals to have critical thinking skills and the ability to work cross-functionally across departments to coordinate outcomes. Business Analyst Business analysts conduct research and development to identify the organization’s functional and technical needs and requirements. They focus on creating business solutions for business needs and identifying business areas that require improvements. Business analysts are responsible for bridging the gap between information technology and business processes by using data analytics. They create reports and provide executives and stakeholders with data-supported recommendations. This job role requires strong technical skills, I.T. skills, financial modeling skills, and analytical skills. Procurement Management Procurement Management involves creating procurement strategies and devising profitable sourcing strategies for the organization. Procurement managers are tasked with the responsibility to discover long-term, mutually-beneficial partnerships and negotiate advantageous terms and conditions with external vendors. This job role requires excellent people management skills and the ability to foresee changes in events, thus preparing a plan for risk management of supply contracts. Lean Six Sigma Lean Six Sigma focuses on lean management and achieving high-quality performance in project processes, based on a zero-waste and continuous improvement approach. Six sigma involves several methodologies that are used to plan projects and designate responsibilities for optimum performance and fulfillment of individual, project, and company goals. The responsibilities of this job role involve instructing teams and directing the analysis, planning, and implementation of projects so that the entire project process is accomplished in the best way possible. For this job role, individuals require adequate leadership and decision-making skills in order to successfully manage the human resources of the organization. Management Consulting Management consultants conduct qualitative and quantitative analysis to come up with a solution to the client’s problem. In management consulting, professionals create financial models, collect business intelligence and also develop plans and business strategies to support new business development activities. Management consultants are responsible for helping companies and clients solve business issues by providing advice and helping to identify as well as address business challenges. This job role requires individuals to have creative work ethics, skills in handling clients, and expertise of organizational structures. List of courses that will help in Supply Chain Management Supply Chain Operations is a vast field. The job roles described above are just some of the many career options available in the field of supply chain and operations management. You can choose to major in Operations and Supply Chain Management, or focus on a specialization within this field, like Business Process Management or Sourcing Management. Take a look at some of the courses you can take that will prepare you to work in the field of supply chain operations. Supply Chain Management The course on supply chain management focuses on how the entire process of the supply chain functions, right from the point of origin to the point of purchase of a product. Professionals aiming for a career in supply chain management need to be able to effectively handle and oversee multiple supply chain channels, processes, and activities. This course involves several subset areas of supply chain management—operations management, procurement, warehouse and transportation management, for example—so taking this course will provide a holistic and in-depth overview of the major aspects of supply chain and operations management. Course offered by: Rice University, Kingston University London, Arden University Berlin Aviation Management and Operations This course has been designed for professionals who want to secure a career in airport management, air safety, aviation marketing, among other areas. Combining aviation and business, the fundamentals of this course focus on aircraft systems, aerodynamics, and business practices in the aviation industry. This course offers the necessary aviation and business skills required by professionals aiming to land a job in aviation supply chain management. Course offered by: Western Michigan University, American University in Switzerland Business Process Management This course is required for professionals who are tasked with managing business processes and activities in an organizational setting. As a business manager, business analyst, IT manager, or Information manager, you need to know how organizations work and how the beginning-to-end business process can be improved. Today, there is increasing demand for professionals with a certification in business process management; according to Mordor Intelligence, the business process management market is expected to reach a value of $4 billion by the year 2026. Course offered by: Boston University, University of California Berkeley, University of San Francisco Service Operations Management Service operations management deals with achieving competitiveness, cost-effectiveness, and efficiency in service operations in businesses. This course explores the designing of effective service delivery systems, quality management, the impact of information technology, etc., across a variety of industries in the service sector. Course offered by: Columbia Business School, ICMS Global Sourcing Strategies and Application This course elaborates on the processes of identifying, qualifying, and negotiating procurement contracts of goods and services from sources across the globe. In this fast-paced world, it is necessary for sourcing managers and individuals working in procurement to know how to implement global sourcing strategies, structure purchasing departments, and learn how to evaluate and select suppliers based on pre-defined criteria. Course offered by: Northcentral Technical College, Michigan State University, NYU Stern Supply Chain Planning and Execution Supply chain planning focuses on planning as the starting point of the supply chain and the execution of plans through the framework of the supply chain architecture. This course examines the day-to-day working of the supply chain plan and how to ensure that scheduled activities are completed on time. For supply chain managers, operations professionals, and individuals working in broad areas of the supply chain, knowledge of supply chain planning and execution is a basic requirement. Course offered by: National University, Walton College, Sloan School of Management How Operations and Supply Chain Management Essentials Will Help Maybe you’re a student planning to study supply chain operations, or you are a professional making the transition to this field. Or maybe you want to opt for a management position in supply chain operations and are looking to understand what goes on behind the scenes in creating a product. Whatever the case is, you require a basic understanding of how supply chains work as well as an overview of the entire process of supply chains and operations management. That’s where our book, Operations and Supply Chain Management Essentials You Always Wanted To Know can help. As the name suggests, this book contains a brief yet detailed overview of the essential concepts and practices of supply chain operations management. Through the example of a simple pair of scissors, which is taken up throughout the book, author Ashley McDonough takes the reader on a journey that highlights the interconnected stages of the supply chain. How to Order Operations and Supply Chain Management Essentials You Always Wanted To Know Order Operations and Supply Chain Management Essentials You Always Wanted To Know from our website or from Amazon.com. Happy Learning!  

When an organisation plans to start a project, there’s a need to adopt an effective framework to ensure the project is managed successfully. For this reason, most organisations opt for the agile approach. Agile working may seem like a business buzzword, but it is actually an iterative way to complete tasks in a complex work environment. In this article, you’ll learn how to adopt agile processes in your organisation, how the agile way of working differs from traditional project management and the characteristics that underpin an agile organisation. Before we begin, let’s look at the agile way of working. What is the Agile Way of Working? The word “Agile” simply means the ability to move quickly. When applied in the context of project management, agile working involves team collaboration, frameworks, processes and the use of technology to find the most appropriate way of working to carry out a particular task. With agility, a company can identify impediments or changes at an early stage and adjust to them accordingly and quickly. In other words, a team can work with more flexibility at a faster pace within the timeframe and budget of a project. Characteristics of the Agile Way of Working As we mentioned earlier, an agile way of working enables teams to work more efficiently in the best way possible. However, there are different ways companies approach agile working. In this section, you’ll learn 4 characteristics that underpin an agile organisation. Transparency Adaptability Customer-focused Flexibility 1. Transparency Organisations that apply an agile way of working are transparent in the way they work and communicate. The agile approach to project management enables an organisation to have a shared understanding of their work progress by integrating information radiators such as Kanban boards. As a result, team members can know what work is being done and how it is done at every stage of the project. This level of transparency helps to create a unified environment where team members can accept their errors and collaborate efficiently. 2. Adaptability Another important characteristic of agile working is the ability to adapt to changes throughout the project lifecycle. The fact that the agile approach enables teams to break down one big task into smaller time-boxed sprints creates room for adaptability. At each stage, a team can deliver value to the product owner, obtain feedback and make improvements throughout the project lifecycle. The goal is to obtain changing customer requirements, make changes and prevent any significant delays at the end of the project delivery. 3. Customer-focused An important aspect of agile approach is that it is customer-focused. It’s not just about building a solution, it’s also about ensuring that your product can solve your customers’ problems. This means that agile project management involves frequent customer collaboration with the aim of increasing efficiency. For example, feedback loops during agile product development enables customers to experience the product and solve their problem in real life. As a result, there’s a reduced wastage of time and resources. 4. Flexibility When it comes to flexibility, you may think remote working, working four times a week or maybe resuming work earlier or later in the day. However, flexible agile work processes entails the ability of a team to adopt new technologies and respond to change as quickly as possible to improve product efficiency. How the Agile Way of Working is Different from Traditional Project Management Traditional project management and agile project management are two contrasting processes, each with its own pros and cons.So, it’s important to understand the attributes that differentiate them. Traditional project management involves a linear approach and depends solely on upfront planning with little customer involvement. In this approach, the product manager is in charge of the entire project and is accountable for the product delivery. Agile project management on the other hand, is an iterative approach to project management that enables a team to collaborate effectively, be flexible and obtain customer feedback for improved product development. Ideally, the agile framework breaks down a project into smaller time boxed sprints that enables a team to make changes during the product life cycle. Having a knowledge of both methodologies, you may ask yourself what process is right for you. The agile framework allows for more flexibility and is more aligned with the current needs of the modern industrial environment. However, the best way to decide is to consider the team dynamics, scope, budget, etc. of the project that’s to be developed. Then you can pick the right methodology. What are the Basics of the Agile Way of Working? The 12 key principles of agile project management were created back in 2001 where there was a need for an improved approach to helping organisations be more flexible, adaptable and productive. They are as follows: Satisfy customers through early and continuous delivery Create room for adjustments late in the project Deliver value frequently Break the silos for your project Build projects around motivated individuals The most effective way of communicating is through face-to-face interactions Working software is the primary measure of progress Maintain a sustainable working pace Continuous attention to good design improves agility Apply simplicity when implementing agile Self-organising teams bring the most value for the customer Regular reflection on work enables a team to be more effective Benefits of the Agile Way of Working No doubt, an agile framework can provide tremendous benefits to an organisation. Here are some of them Reduced risks Agile framework involves time-boxed sprints that enable a team to make necessary changes during the product life cycle. As a result, there’s reduced risks of creating a product that may not be in line with the customer’s needs. Improved team performance Since agile teams are self-organized, they have full control over their choices. The team also collaborates more efficiently when they rub minds regarding challenges and project statuses. Greater customer satisfaction In agile processes, the customer is involved in the decision-making process of the product development. As a result, product teams can make changes according to the customer’s feedback. This ensures that they deliver value to the customer and the final product matches the customer’s needs. Conclusion The agile way of working is a sustainable and effective way of managing projects. In the complex, ever-changing work environment, an agile approach can help you and your team be more flexible, effectively manage risks and projects. Learn more about how you can manage the complexity of modern projects. The 4th edition of Project Management Essentials You Always Wanted To Know provides accurate and authoritative information on project management best practices.

If you don’t have sufficient funds, it’ll be a major challenge to complete a project successfully. A well-planned budget is essential to develop a project on the right foot and make the best use of available resources. This article will provide insight into what’s involved in determining an appropriate budget for your organization as well as the benefits it provides. Before we begin, we need to define what a project budget is. What is a project budget? A project budget is an estimated cost of all the tasks, milestones and activities involved in a project. In other words, it is the total amount of money that you need to complete every phase of a project. The project budget includes material, operating and labor costs. A project budget is important during the development of a project. Without a project budget, your project could lead to waste of resources, money and may even end up incomplete. Now that you’ve learned the definition of a project budget, how do you determine the appropriate budget for your project? You’ll learn about this in the next section. 5 techniques for determining the appropriate budget for a project Project budgeting can be challenging. However, the budget of a project depends on the nature of the industry and complexity of the project. The more complex the project, the more difficult it will be to determine the right budget for a project. Here are 5 techniques you can use to determine a well-planned budget for a project: 1. Bottom up estimation Bottom up estimation involves the estimating of a project in the most detailed possible way. Rather than estimating a project in a general sense, each part of the project such as milestones, tasks are estimated and then rounded up to get the estimated project cost. A disadvantage of this approach is that it takes more time to complete but the detailed time and cost estimate of a project improves the chances of meeting the estimated project cost. 2. Top down estimation Top down estimation is the opposite of the bottom up approach. This approach involves taking the estimated project cost and then breaking it down into smaller fractions. The type of budget estimation is ideal if you already have a fixed budget cost. A downside to this approach is that it’s less detailed compared to the bottom up estimate. It can be hard to predict the total cost of a project without understanding the project scope and plan. A way around this challenge is to understand how each milestone and task in the scope affects the initial fixed budget. 3. Analogous estimation This type of estimation is normally ideal if you’re not new to project management. Analogous estimation leverages past project data to determine the cost of your current project. An advantage of this approach is that it provides a better way of estimation during the early stages of a project especially when few details of the project have been identified. 4. Three-point estimation Three-point estimation presents a more realistic approach to determine a project budget. It allows you to establish a weighted average based on the best, worst and most likely budget cases. Since you’ll be evaluating project costs from different perspectives, you’ll arrive at a more realistic budget. An upside to this approach is that it reduces the chances of going over budget because your project plan will include every detail of your estimates. 5. Parametric estimation As the name implies, parametric estimation is an estimate based on parameters that define specific parts of a project such as costs, complexity, duration and then apply them to the current project. An upside to this approach is that it can be used in complex and diverse projects. The benefits of an effective project budgeting Project budgeting goes beyond just knowing what an entire project would cost. A well-planned budget provides the following benefits: 1. Helps establish guidelines A well-planned budget enables you to set clear expectations at the start of a project. In some cases, a project may have the need to accomplish several priorities. When you have an effective project budget, the project manager can know how much he can spend on any particular project. 2. Helps prioritize different parts of the project Another benefit of a project budget is that it helps you set clear priorities during project development. There may be some situations where the available funds may not be enough to complete a project. In this case, you can work on the tasks with the most priority while you put other tasks on hold. 3. Promotes future thinking and planning Like we mentioned earlier, there may be some situations where the fixed project budget may not be enough to complete a project. Having a placed budget enables you to plan ahead. For example, when you prioritize tasks due to insufficient funds, you should know the additional funds you will need to complete the entire project. 4. Cost estimating With an established budget, the project manager can determine the amount of money that can be spent on each phase of the project. As a result, you can determine whether the fixed budget will be enough to complete the project. 5. Quick access for documentation There are cases where you may need to retrace your steps during project development. With a project budget, you can always go back to evaluate project expenses and know how funds have been used during the phases of the project development. Some examples of popular project management software with budgeting features When you begin the process of project budgeting, automation can be helpful especially if you’re dealing with a complex project. Here are some examples of project management software with budgeting features. 1. Forecast Forecast is an AI powered software that enables organizations to predict project costs. It offers a visual budget that has an overview of revenue, cost and profit. This way, you can see how the time entries affect the project budget. 2. Orangescrum Orangescrum is an open source project management software that enables you to view your entire project budget in one screen. With Orangescrum, you can define budget, add billing rate, monitor your budgets and reports in real-time. 3. Scoro Scoro’s project budgeting software enables you to view your organization’s financial performance in real-time. Scoro allows you to create a separate budget for each project. You can also keep track of the budget against actual income and expenses. Conclusion Project budgeting may seem like a difficult task in project management but it is crucial to ensure your project is developed successfully. With a well-planned project budget, you reduce the chances of going over budget and increase profits. Learn more about how you can manage the complexity of modern projects in the 5th edition of Project Management Essentials You Always Wanted To Know. This book provides accurate and authoritative information on project management best practices.

“DISCIPLINE IS CHOOSING BETWEEN WHAT YOU WANT NOW AND WHAT YOU WANT MOST”, quoted by Abraham Lincoln. When one applies his/her knowledge, skills, tools and techniques to manage a project to achieve certain objectives, it is called Project Management. Kalpesh Ashar, in his book “Project Management Essentials You Always Wanted to Know”, refers to the Project Management Institutes definition of Project – “A temporary endeavour undertaken to create a unique product, service, or result ”. Projects have become an integral part of our everyday life. Projects are undertaken to bring about some change in the existing scenario, either in personal or professional life. Although projects have been executed for decades now, it is only much recently that the need has been felt to manage projects using a scientific approach. Projects executed using a scientific approach ensures greater chances of achieving project goals. Much still lies in how efficient a project manager is in the organization and utilization of resources. Typical responsibilities of a project manager include: Planning, Executing, and Closing Projects. The resources he/she manages include people, budgets(finances), technology and Intellectual Property and Data rights. Projects at Work: New product development Enhancement in existing product Feasibility Study Developing a software application Projects in Personal Life: Wedding event management Planning a birthday party Vacation Planning and booking Home improvement Pre-requisites of Managing a Project: Even though every project is different, they have two things in common : A predetermined Timeline and a Unique Outcome or goal. A project cannot carry on forever. Every project also delivers something unique or different than the outcome of the other project. Every project is started to meet certain objectives. Although it is felt that only the project manager does project management, it is usually not true. Every person working on a project is performing activities that help in achieving the Project Objectives. Management By Objectives: Setting clear and realistic targets/objectives. Periodic evaluation of the achievement of the targets. Implementing corrective action, if required, to bring performance in line with the targets. These are further elaborated in Project Management Essentials Book by Vibrant Publishers Constraints of Project Management: Every project has the following 6 constraint: Scope: The project needs to deliver a certain scope. Time: The project needs to complete within stipulated time frame. Cost/Budget: The project needs to be done within the stipulated  budget. Resources: The work on the project demands lots of resources – human resources, machinery, and raw materials. Quality: The final product will only be accepted if it meets certain quality parameters. Risk: Several uncertainties might come in the way, which should be managed properly by the project managers. The above constraints compete against each other and a project manager needs to juggle between them. The detailed steps and tools to successfully execute a modern day project and manage all its complexities are outlined succinctly in the book: Project Management Essentials you always wanted to know – 4th Edition

Every project is started with the intention of meeting certain objectives. When the Project Manager along with the respective team applies his or her knowledge, skills or tools and techniques to manage a project in order to achieve those objectives, it is known as Project Management. For the project to be successful, it has to go through five project management phases. It starts with Initiation, followed by Planning, Execution, Monitoring & Control and Closure. Monitoring & Control, in parallel with the other phases, helps monitor the particular phase and take appropriate control action, called corrective or preventive action. The phases may not always happen one after the other. There is certain degree of overlap between the phases. Monitoring & Control is a phase that starts almost in the beginning of the project and goes almost till the end of the project. Execution phase is generally the one that takes most amount of time and consumes most amount of resources and hence, incurs most of the project budget. Phase 1: Project Initiation: As the name says this is the start of the project. The goal of this phase is to define the scope of the project at the broad level. It usually begins with a business case. During this phase you will be researching about the project – whether this project is feasible or it should be undertaken or not? Stakeholders will be giving their say whether this project is a go-to or not. If the stakeholders are convinced then the project charter will be given to you which will include business needs, stakeholders and the business case. Phase 2: Project Planning: The focus of this phase is to develop a roadmap for developing the project. This phase is key to successful project management. This phase commences with setting goals. S.M.A.R.T. and C.L.E.A.R. are the two popular methods for setting goals. C.L.E.A.R. Goals: This method ensures that the goals have been thoroughly vetted. Specific: Ask yourself the following questions: Who, What, Where, When, Which and Why. Measurable: Some criteria should be developed in order to measure the success of the goal. Attainable: Set priority and identify the most important goals, and then proceed accordingly Realistic: The goals set must be realistic and achievable. Timely: A proper time-frame should be created in order to achieve the goal. S.M.A.R.T. Goals: A method developed while taking today’s fast paced businesses into consideration Collaborative: The defined goal should inspire all the employees to work together Limited: The scope should be limited as well as manageable Emotional: The defined goal should tap into the passion of the respected employees. This helps in optimizing the quality of the work. Appreciable: The defined goal should be divided into smaller tasks so that it can be achieved quickly. Refinable: The scope of the project should be flexible. Therefore, in the different situations’ goals can easily be refined. In this phase, the scope of the project is defined and a project management plan is already developed. It involves identifying the cost, quality, available resources, and a realistic approach to achieve the respective tasks. In this phase following documents are required to be created by the Project Manager: Scope Statement: Defining the business needs, benefits of the project, objectives, deliverables, and milestones.Work Breakdown Schedule: Visual representation of the different tasks assigned to the various team members.Milestones: Defining the high-level goals that need to be met throughout the project.Gantt Chart: A timeline that can be used to visualize the project timeline.Communication Plan: A proper communication plan in order to communicate with the team members, stakeholders, and other respected authorities.Risk Management Plan: Identify all the foreseeable risks. Example: unrealistic time and cost estimates, customer review cycle, budget cuts, changing requirements, etc. Phase 3: Project Execution As already discussed above this phase is the longest one in the project development cycle. During this phase deliverables are developed and completed. A lot happens during this phase such as status reports, meetings, development updates and performance reports. Some of the tasks completed during this phase:Develop TeamAssign ResourcesExecute Project Management PlansSet up tracking systems, etc. Phase 4: Project Performance / Monitoring This phase is all about managing project progression and ensuring that everything happening aligns with the project management plan. Project Managers will be using the KPIs (Key Project Indicators) in order to determine whether the project is on track or not. Phase 5: Project Closure This phase represents the completion of the project. Meetings are hold in order to evaluate project failures, etc. This is especially helpful to understand lessons learned so that improvements can be made for the future projects. The above text is an excerpt from Kalpesh Ashar’s book, Project Management Essentials You Always Wanted to Know. Read more about Project Management and its different phases in  Project Management Essentials You Always Wanted to Know, by Vibrant Publishers.