Benefits of Good Project Management
More exercise, better diet, wake up earlier, clean out the closet – for many of us, the New Year means it’s resolution time. Time to figure out what’s not working as well as we’d like and to make plans to improve our health, habits and lives. And these days, tracking our progress is easier than ever thanks to fitness wearables, sleep trackers, smartwatches, and all sorts of other gadgets that provide us with metrics that matter. Yes, it’s a great time to revisit our personal goals, set new ones, and track our results. If we stick with it, we get to live longer, be happier, and accomplish more.
And as long as you’re focused on measuring and improving yourself, it only makes sense to do the same for your job or company, right?
You can even use the same approach that you use to create your own resolutions: define what matters, review last year’s performance, figure out where you want to improve, define your goals and then start tracking this year’s performance. Simple, right?…unless of course you don’t have a way to track your performance.
How are you supposed to improve if you don’t have specific goals and metrics? It’d be like trying to run a faster mile, but not having a stopwatch or GPS tracker – you’d have no way to know how fast or far you ran each day, and no sense of your progress.
For companies, that’s where project management comes in.
Benefits of good project management
A recent white paper from the Project Management Institute details the benefits of good project management – and there are several – including:
- Aligning an entire organization on what matters and what doesn’t. This alignment empowers each individual contributor to focus their efforts on the same goals.
- Tracking specific metrics improves performance measurement for the entire company as well as individual contributors. With granular performance measurement, it’s easier to identify and improve weak spots, and to reward success throughout the organization.
- Use operational and performance metrics to quickly identify wasted efforts, improving organizational efficiency.
Oh, and that concept of Organizational Agility we talked about previously? That comes from good project management.
Great – so good project management makes every project at your organization more efficient and more accountable but how do you get there? Well the Project Management Institute has some suggestions:
Using Project Management to improve accountability and effectiveness
- Define the ROI: Every project should have a clear definition of its value to the larger org. This helps when prioritizing projects and deciding where to cut back if resources are constrained.
- Manage what’s measured: identify the most important metrics for your business goals, collect the data, and share the data with everyone.
- Use metrics to align projects with strategy: Make sure your executives can see key metrics for your projects so they can make sure the projects continue to align with larger organizational strategy.
- Get everyone on board: Communication between all levels of the org is critical. Make sure everyone understands the metrics that matter, and why they matter. And train your staff on project management systems and processes.
So know your strategy, define the metrics that matter, and leverage software to bolster your communication and alignment of those metrics. Just like a fitness band, the more your entire organization understands about its goals and progress, the faster your mile time. And the faster your mile time, the farther ahead of your competition you will be.
Find out how CrossCap drives project management for marketing organizations. We’ve been working with some of the largest retailers in the world for more than a decade, and we can help you define and track the metrics that matter, and get your team or the entire organization on board. Contact us for a demo today!