It seems almost impossible for a corporate project to have an unlimited budget. Therefore, project management becomes critical.
Not only to save budget but project management is also needed to monitor processing time so that it takes place as efficiently as possible.
This is because each project has its own objectives and presents different challenges. Mismanagement risks causing the budget to swell and delays in the project work schedule.
Therefore, good management and organized steps are needed so that the project can be by the goals and expectations of the company.
The following article will explain the understanding and basics of project management for those who are just learning or increasing their knowledge in this field.
Intro to Project Management
In general, the notion of Project Management refers to the planning process for the execution of a project carried out by a company to achieve specific goals.
Generally, Project Management is handled by someone who works as a project manager or project manager. This person is responsible for overseeing the project’s running down to the smallest detail so that everything can be completed smoothly.
There are several core tasks of a project manager, include:
- Develop plans and design projects
- Form a communicative team
- Compile and calculate the calculation of the budget (budgeting)
- Prepare everything to anticipate problems.
- Supervise and monitor the progress of the project
- Make a report
From some of the tasks of a project manager, it can be seen clearly what the work methods and systems are like in project management.
Project Management Benefits
Now, if asked to continue the sentence, “Project management is ….”, you already know the answer, right? Now, what about the benefits of project management for companies? Come on, let’s peel them one by one.
1. Well Managed Budget and Schedule
Budget and schedule are one of the most essential things of a project. With tight or limited budgets and schedules, it will be more difficult for companies to complete tasks.
The existence of project management makes it easier for companies to manage the budget and schedule. The reason is a project manager will use the tools and experience needed to create a budget strategy and timeline that supports project priorities.
2. Increasing Productivity and Overall Quality of Work
The project management team is responsible for setting better goals and optimizing workflows to maximize project productivity and quality. With a clear roadmap, the team can navigate the project better and perform all tasks according to the required needs.
These various things will, of course, impact the overall quality of work and produce high-quality products.
3. Reducing Project Risk
Every project must have various risks, ranging from cost and time to performance. These risks can be analyzed, communicated, and prioritized if a company has a project management team.
Thus, companies can reduce risk before problems are more challenging to overcome.
4. Companies Gain Competitive Advantage
Every company that sells goods or services will have competitors in the market. Therefore, companies must produce competitive and superior products compared to their competitors.
Utilizing project management can help companies get ahead of the competition, improve product quality, and bring closer relationships with customers and stakeholders.
5. Improving Relations with Stakeholders
When planning a project, the company will work with various stakeholders, from investors to executives to vendors.
A project management team can improve the flow of communication to all parties involved in the project, manage shared risks, and improve the company’s relationship with all stakeholders.
A project manager must later understand the needs and interests of each stakeholder to ensure that the project results are the goals to be achieved by all claims.
The Triple Constrain in Project Management
The Triple Constraint is a model or theory that states three main limitations in project management.
This theory is generally known by other terms, such as the Project Management Triangle, Project Triangle, Triple Constraint Triangle, or Iron Triangle.
Broadly speaking, the triple constraint explains that the three elements in project management are closely related. If there is a change in one of the elements, it will affect the other two elements.
The three elements are time, scope, and cost.
The first limitation in project management is time. Time is the amount required to complete the project, from the starting point to the end. A project manager must be able to estimate and manage time as well as possible so that the project is completed according to the predetermined target.
With the proper schedule, all teams involved will have clear time limits on work.
The scope relates to the activities or works carried out during the project development process.
If there is no scope limitation, then the work becomes undirected and has the potential to derail the project plan or commonly known as scope creep.
The scope must be identified during the planning stage or before the project starts. With careful planning, everyone in the team will know and understand what tasks need to be prioritized for them to complete.
A project certainly costs money. In setting cost limits, the project manager must estimate, budget, and control costs as best they can. The existence of good cost management allows a project to be completed according to a pre-agreed budget.
Example of Project Management
Projects run by a project manager are very diverse. Here are some examples:
1. Construction projects, including the construction of highways, markets, toll roads, factories, buildings, bus stops, and others.
2. Software development to increase employee productivity.
3. Application development projects, such as recruitment applications for large companies.
4. Development of company information systems.
5. Making websites, networks, and new communication systems.
Of course, the examples above are only a tiny part. Considering that currently there are many types of companies, the projects undertaken are also very diverse.
Project management tools
Managing the course of a project today is no longer difficult. With the help of increasingly advanced technology, the project management process can even be done anytime and anywhere through internet-based software. Some project management tools references:
- Monday. com
- Kissflow project
- Zoho projects
You already know about the meaning and examples of project management tools that can be used. Implementing it directly in a company is not easy, but imagine the impact of implementing a project in your company.