Handy tips in Mastering Project Execution
No project ever gets completed on time, maybe not the right saying if there is meticulous planning for project execution. It is because when it is time to deliver, project execution is all about action and direction. Though it is the longest phase in the project management cycle consuming the most resources and energy, it delivers the project’s output as experts confirm that any project plan is worth nothing without perfect project execution. Hence check out the many handy tips in mastering project execution to realize the plans with clinical precision.
The increasing importance of project execution
With software development and introducing various products for solving many real-time issues taking advantage of the technological advancement, project execution is gaining importance. The base characterization for the product development literature and organizational information process theory is their technology novelty and project complexity. These characteristics contribute to the project uncertainty hence affect the project execution (3). Also, risk management plays a key role in an organizational cycle for not guaranteeing a complete risk-free workplace to be a significant factor for determining successful project execution (4). Hence studies identify the many adaptations or changes in the conventional project management for better execution (1). Large projects rely on effective management of flexibility that depends on the development of four core competencies. It includes entrepreneurial, evaluative, relational, and technical competencies to support efficient project execution and delivery (2).
Benefits of perfect project execution
Many perfect project plans fall apart because of no proper project execution and is the reason for many to not deliver within deadline. Hence, it is critical to have a perfect project execution to construct deliverables according to the master project plan. Also, monitoring continuously and evaluating the project process progresses as per the master plan to deliver the output in time and as per the agreed specifications. Hence, project execution is all about action, direction for timely delivery of the products effectively, and customer satisfaction.
Project execution is the longest phase of any project for managing cost, time, quality, issues, risks and others. It also helps to manage procurement, communications and customer acceptance. To have all the benefits of perfect project management is easier said than done, as many reputed executive leaders confirm that only 60% of their project plans or strategic initiatives meet their goals. The major reason for the difficulty of mastering project execution is the lack of proper communication among the team members working in a manual system or a clunky, complex tool. Hence it becomes essential to have handy tips in mastering project execution that will help complete the project in time to the fullest satisfaction of the customers.
Handy tips for impeccable project execution
Closing the execution gaps
The execution gap or strategy gap is one of the significant causes of many projects not going as per plan. It represents the project vision and reality that makes it challenging for the best-laid out plans to follow and meet the goals. There are many reasons for these execution gaps to occur during the project process, like too ambitious timelines, not having enough clarity on the goals, not having enough key players, and lack of resources. Surveys confirm that 21% of projects fail because of inadequate resources like team members, specific departments, time, and other materials. Hence it is important to fill in these execution gaps to cross the finish line in time with the following handy tips in mastering project execution.
· Ensure that all involved with the project are on the same page to understand the objectives clearly by asking questions or raising concerns and getting proper answers for it
· Rather than mapping out a lengthy project charter, it is best to create a collaborative document like a project poster outlining the potential execution gaps and the measures for solving the specific problem.
· Keep all teams in the loop updated with the project status and any changes to enable the project handoff to other teams not to have many difficulties as they have a proper understanding of it.
· Proactively plan for adequate resource forecasting, reduce task dependency, and increase the resources for seamless project execution.
· Use the CPM or critical path method to ensure the timeline by knowing the were to stick strictly to the schedule and others to have a little breathing time.
· Check the progress regularly with frequent meetings with all involved and making sure that everyone feels heard and valued contributors to the project execution.
All the above handy tips in mastering project execution will help fill up the execution gaps to deliver the products in time with high quality to the clients’ utmost satisfaction.
Capabilities to improve clarity and increase productivity in project execution
The significant bottlenecks for perfect project execution are inadequate real-time communication among all stakeholders and not enough or no risk management (4). The following are handy tips for developing the capabilities to improve clarity and increase productivity in project execution.
· Managing the project by exception by having a central repository showing the project schedule will avoid disruptive reactivity, which happens because of all team members not having enough information or too much information.
· Stats confirm that a well-run PMO or project management office reduces 25% of failed projects and 43% improvement along with huge cost savings.
· Using the cloud-based PPM tools that permit plug-ins for easily integrating the teams’ existing systems preferences and easing adoption will increase productivity for completing the project in time.
· Having a PPM solution that highlights the deltas or the difference of the current position and the place to go will help to be on the way to project execution mastery.
The above handy tips in mastering project execution will help fill in the execution gaps and develop capabilities for improving clarity and increasing productivity for completing the projects in time and delivering high-quality products to satisfy the customers and fulfill their purposes.
References:
1. https://ascelibrary.org/doi/abs/10.1061/(ASCE)SC.1943-5576.0000270
2.https://www.sciencedirect.com/science/article/abs/pii/S0263786301000424
3. https://ieeexplore.ieee.org/abstract/document/820727/
4. http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.622.7729
5.https://www.emerald.com/insight/content/doi/10.1108/17538371211268898/full/html
6.https://www.sciencedirect.com/science/article/abs/pii/S0263786317308001
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