What is Project Management?
Project management is the act of planning, coordinating, and supervising the execution of a specified short-term project with the intention of attaining certain goals and objectives within a predetermined timeframe and budget. It typically entails coordinating the efforts of a team of individuals to achieve the project’s goals and objectives, and includes tasks such as developing project plans, scheduling and allocating resources, monitoring progress, and making any necessary adjustments to ensure the project is completed on time and within budget. Project management tools are software applications or platforms that help project managers plan, execute, and close projects.
How to Manage Projects
The best technique to manage a project varies on the project and the team involved, however, a successful project management strategy often involves the following steps:
- Clearly define the project goals and objectives, and ensure that everyone on the team understands them.
- Create a thorough project plan that defines the activities and milestones that must be met in order to meet the project’s objectives.
- Assign team members distinct roles and duties, and ensure they have the resources and support they need to perform their job.
- Monitor progress on a regular basis and make adjustments to the plan as required to keep on track.
- Keep all stakeholders informed and engaged in the project by communicating effectively with all stakeholders, including team members, clients, and other stakeholders.
- Set up a risk management and issue resolution system to anticipate and resolve any possible issues that may develop throughout the project.
- Processes should be evaluated and improved on a regular basis to boost efficiency and production.
- Celebrate the project’s conclusion and use the lessons learned for future ventures.
Using a project management tool like Smerank may assist to simplify this process. For small and medium-sized enterprises, Smerank is an affordable tool to manage your projects, team and finance. Start your 15-day free trial NOW.
Project Management Tools
Some common types of project management tools include:
- Project planning and scheduling tools: These project management tools help project managers create project plans, schedules, and Gantt charts. Examples include: Smerank, Asana, Trello, Monday, Jira, etc
- Task management tools: These tools help project managers and team members track and manage tasks and to-do lists. Examples include: Smerank, Asana, Trello, Monday, etc
- Resource management tools: These tools help project managers track and manage the resources (people, equipment, etc.) needed for the project. You can use Smerank for this purpose.
- Communication and collaboration tools: These tools help project managers and team members communicate and collaborate effectively. Examples include: Smerank, Slack, Microsoft Teams, Zoom, etc
- Time tracking tools: These tools help project managers and team members track the time spent on different tasks and activities. Smerank allows you to track clients and employees.
- Document management tools: These tools help project managers and team members manage and share documents related to the project. Examples include: Google Drive, Dropbox, etc
- Risk management tools: These tools help project managers identify, assess, and mitigate risks that could impact the project.
- Budgeting and financial management tools: These project management tools help project managers track project expenses and manage the project budget. You can manage your budget and finance in Smerank.
- Monitoring and reporting tools: These tools help project managers track project progress, identify any issues, and create reports on project status. The report tab in the Smerank app helps in tracking progress and performance.
Which Project Management Tool Is Good for SMEs?
Small and medium-sized enterprises (SMEs) have different needs and resources compared to large organizations, so the best project management tools for an SME may not be the same as the ones for a larger organization. Here are a few project management tools that are well-suited for SMEs:
- Asana: Asana’s premium plan costs $13.49 per user per month.
- Trello: Trello’s standard plan costs $6 per user per month.
- Monday: Monday’s basic plan costs $8 per user per month
- ClickUp: ClickUp’s basic plan costs $8 per user per month
- Smerank: Smerank’s starter plan costs $7 for 5 users per month, which is $1.4 per user per month.
These are some examples, there are many more project management tools available in the market and many of them are tailored to specific industries or areas of work. It is important to choose the right tool that fits the project and team needs. Smerank is budget-friendly, feature-rich and suitable for small and medium-sized enterprises.
Project Management Techniques
Some common project management techniques include:
- Agile: A flexible and iterative approach that emphasizes collaboration, customer involvement, and rapid iteration.
- Scrum: A framework for managing projects using the Agile methodology.
- Waterfall: A linear, sequential approach that progresses through distinct phases, such as analysis, design, development, testing, and deployment.
- Kanban: A method that emphasizes visualizing work and limiting work-in-progress to optimize flow.
- Lean: A methodology that emphasizes minimizing waste and maximizing value in the delivery of a product or service.
Ultimately, the best way to manage a project will depend on the specific requirements and constraints of the project. It’s important to choose a methodology and project management tools that fit the project’s needs and the team’s capabilities.
Project Management Skills
Project management skills are the abilities and knowledge that are required to successfully plan, execute, and close a project. These skills include:
- Planning and organizing: the ability to create a project plan and schedule, and to effectively allocate resources.
- Communication: the ability to effectively communicate with project team members, stakeholders, and other parties involved in the project.
- Leadership: the ability to lead and motivate a project team, and to make effective decisions.
- Problem-solving: the ability to identify and solve problems that arise during the project.
- Time management: the ability to manage one’s own time and the time of the project team effectively.
- Risk management: the ability to identify and mitigate risks that could impact the project.
- Adaptability: the ability to adapt to changes in project scope, schedule, or resources.
- Technical skills: specialized knowledge or expertise relevant to the project.
- Budgeting: the ability to manage project budget, expenses and cost.
- Stakeholder management: the ability to understand stakeholders’ needs and expectations and manage them accordingly.