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Seven Steps to Profitable Project Management,
Many Projects at a Time

By Tom Dormo, GrandView Business Solutions

Wouldn’t life be easier if you could manage or contribute to just one project or focused effort? For you, like most people, work is likely to be more complex.

With responsibilities in more than one initiative, you have multiple deadlines and milestones to meet. You have more clients, more vendors, more requirements, more costs to track, more information to share and more documents to file.

Seven Steps to Projects Management Success PDF

Click on the image to download the Seven Steps to Profitable Project Management PDF

Single project tools and techniques usually lack the overall work view and other features you need to see and manage priorities and progress. To avoid getting dragged down by multiple-project chaos, you need to know and see more.

Managing multiple projects? Methodology matters.

Systems engineered for multiple-project management and collaboration can help. Still, methodology and culture, not software and technology, are the keys to success when you regularly participate in more than one internal or client project.   

We’ve managed more than 2,500 projects for clients since 1989. Along the way, we developed a methodology that has enabled us to grow to nearly 150 people (and climbing) and earn repeat business from some of the world’s largest and most demanding companies.

Seven steps are essential to success in organizations that simultaneously manage multiple initiatives. Effectiveness begins with good pre-project planning plus an understanding of what a project is and what can be at stake.

What is a project?

Some people call them projects. Some call them jobs. Some call them contracts. Others just see it as their work. Whatever you call what you do, managing it almost always involves:

  • Applying technical knowledge, people, communications skills, and management talent.

  • Attempting to meet contract requirements and customer commitments on time and within budget.

  • Trying meet customer expectations.

Skillfully balancing time, resources and scope is often not enough. To stay ahead, teams and companies frequently must beat schedules, improve costs and exceed expectations. This requires much more than pretty Gantt charts.

Where good projects management can take you

For organizations of every size, the benefits of getting work management and collaboration right can be seen in staff morale and customer satisfaction. It also shows up in your financials: According to a study conducted by Pitney Bowes, Inc., and published in Automation World, good project management practices saves 25  to 35 percent in time to complete a project.

Given today’s salaries and related expenses, that adds up to a lot of money.

In our experience, companies or teams that cannot manage multiple projects are unable to grow past a certain point, usually about 15 people and $1 million in revenues. If you consistently miss deadlines, blow budgets and fail to deliver complete solutions, others will not want to give you new work or referrals.

Standard project management tools might not help. They tend to be rigid where your work is fluid, resource rather than task oriented and lacking in communication and collaboration functions.

Every project is an opportunity

Every project is an opportunity to produce something new, to make a real difference. You can introduce change, increase productivity, enhance capabilities of your company or of a client or build new relationships.

If you get it right.

What commonly goes wrong? No communication tools, unclear or poorly communicated goals, no agreed milestones, inaccurate staffing, missing deadlines, surprises, inconsistency from project to project.

Consistently following these seven key steps can directly improve your operations, profitability and sanity.

Seven Steps to Profitable Projects Management - Part One