This weeks lecture talks about project planning and execution. As a Project Manager, what are the key factors that need to be taken into consideration for a successful project execution?
Also, what factors you would as a Manager emphasize on?
Commitment to Customer: It is essential that the manager sensitizes the team that release plans once locked-in are sacrosanct. On-time delivery is key. Hence it is extremely important that the entire team is fully aligned to the customer’s requirements. The manager must develop an in-depth understanding of not only the current activity/project, but also get a good understanding of the customer’s product road map. The goal is to become a true partner for the customer through excellence in delivery and technical depth/product understanding.
Dashboard driven: Metrics can be overwhelming and hence should be viewed as dash-board (aka cockpit panel or a car dashboard). This will provide the right amount of information to know if the project is under control. Standard metrics like schedule/effort variance are of course essential. In addition, customer satisfaction and various productivity measures needs to be tracked. It is also extremely important that the project management is aligned to the business goals. The project manager has to understand all the parameters that impact the project profitability and gets a regular view of the profitability of the project against target.
“Thinking” Plan-B: The changing dynamics in the project makes the manager’s role extremely challenging and it is important that the manager does not get into the Panic mode. It is imperative that the Manager “thinks” ahead of the team and is able to predict potential issues and be prepared with alternate approaches (often called plan-B). Proper Risk planning and management is absolutely necessary. This will give greatly improve manager’s confidence in dealing with risks/issues and be prepared for all outcomes.
Successful project execution relies upon completion of the activities in the WBS, following the guidelines in the DDP, and completing tasks and work packages. In the role of Project Manager, it would be important to emphasize that all project team members are up to date on information and that the project tasks stay within scope, so that the timeline is not delayed due to the completion of unnecessary tasks.
If by project execution you mean the execution plan/phase of the project, then it is safe to assume that the other phases have been completed. At this point in the project progression all or a majority of background research/ investigations into potential issues as well as the dynamics around the tasks delegated have been done. This mean that the major point to focus on is "where is not going according to plan" or "what can go astray that can derail the project". Since project managers are not always experts in the field of the project they are supervising, maintaining a steady communication channel with the experts either on the team or that are simply consultants and asking for their opinions on certain key indicating results during the execution plan can help prepare you for challenges with actual results of testing.
The ability to find the appropriate person or entity that can have an answer to a problem is just as important as finding an answer on your own, and i some cases it can save you time like in the 2nd scenario of the simulation, simply by talking to the right people you can fix a problem and as you all saw choosing the right person to talk and how you approach them, the human management aspect of PM, will likely decide if you will be a successful PM or not.
There are many factors that need to be taken into consideration for a successful project execution. Establish a clear and meaningful strategic planning process. Engage all levels of employees to ensure success. Communicate to employees throughout. Use an innovation process for all new product development, service delivery, etc. strategies. Create projects to manage the strategies and prioritize all of these projects to ensure they are properly resourced. Re-shape the organizational culture to be more adaptive to the changes the strategic plan requires.
Scheduling utilizes a combination of work breakdown structure and project information, these include:
tasks, key tasks, project types, location, project characteristics,WBS, and time and staffing standards.
As a project manager you need to plan for the unexpected things!.Things happen during executing the project, so as the project is being executed, project managers should be able to explain and support what has happened in the project to date, along with: current status, what the results thus far mean to the organization and its objectives, and what specific impact these results will have on the organization in terms of cost reduction for example. So as a project manager you need to take the time to define specific and measurable project objectives, and communicate those objectives to the team. Finally, you need to monitor the project progress regularly.
The key factors that need to be taken into considerations for a successful project execution includes: defining the scope of the project. Having clear objectives, scope, budget and methodology is one of the important things while considering for the successful execution. Selecting the team members by identifying the talents needed to execute the vision becomes easy. It will make up the team and delegate tasks and activities to the members which is best suited to them. Monitoring the progress of the project daily is very important. Creating the project schedule is very important because it defines each deliverable and defines the series of tasks that must be completed.
Although there are many important factors that would affect project planning and execution a project manager should focus on, I would emphasize on choosing the right person (team member) for the right task. Spending some time learning about team member's knowledge and skills would definitely pay off during the project execution, as it will ensure, to a degree, that tasks are performed by someone who knows his work, and this would lower the risk potential percentage and rise the project success level such as following the Gantt chart tasks and periods, being on the right budget, and not going over the planned value of the project, and so on. Selecting team members in the right way is a task itself. It will improve both the project performance and its outcome as well as it will ensure that tasks are completed with the least friction level and the highest possible effectiveness.
I believe there are several key factors that need to be considered to ensure a successful project execution. First and foremost, meeting and getting to know each team member from the start is an excellent way to not only be aware of their availabilities, but also their preferences, limitations, and personalities. Communication is key for efficiency and success. In addition, I would say preparing a space for a visual project management board, as well as risks and scope, will be convenient when beginning to understand the trajectory of the project. Being organized from the start will also help greatly with efficiency and help prevent the PM from being blindsided.
The Project Execution is the performing the project scope of works and activities in accordance with the project baselines, plans and procedures with the resource, interface, change, schedule, cost, risk, quality, safety and environment management, and other contractual requirements. The key success factors for the project execution is well defined project definitions, and roles and responsibilities, organised and building the team works, and accurate status reporting timely decision making under the project manager’s leadership within internal and external organisations.
Project execution is the phase in which the plan designed in the prior phases of the project life cycle is put into action. The purpose of project execution is to deliver the project expected results. Is to develop and produce the project expected deliverables that must be on time and within budget and must meet the agreed upon scope and fulfill customer quality requirements. The project execution plan is the governing document that establishes the means to execute.
Project Execution is the longest phase in the project management cycle. If you need to control and monitor the project, you need to establish a set of project management processes. These management processes helps to manage time, cost, quality, risk, customer acceptations and communications. The success factors of project execution include key objectives of the project, strong team working, effective communication, decision making skills etc.
This weeks lecture talks about project planning and execution. As a Project Manager, what are the key factors that need to be taken into consideration for a successful project execution?
Also, what factors you would as a Manager emphasize on?
Dr. Simon mentioned the two key factors to consider are the amount of resources required to complete the project, and how much it will cost. If a project will take more resources than the company has to offer, or it will cost more than the company can afford, then the company will not be able to work on it. As a PM, it is important to identify the amount of work that needs to be done and assign the appropriate number of resources that will be required. Next, the PM and individuals assigned to the project will need to understand how much each task will cost to complete. Therefore, it is important to properly identify the number of resources and cost associated with a project. If this estimate is off, then individuals may be overworked or they may not finish the project on time, or the project may wind up costing more than the company can actually afford.
Another important thing to consider is time. A company will always try to finish a project as quickly as possible to get the latest device/technology out on the market and start making money from it. If it takes too long to complete a project, the thing the company is working on may not even be relevant by the time the project is completed, or the company's competitors may have already come out with a better product.
Before you start a project, make sure that you have laid the foundation for success, this means obtaining approval from all owners of the project for all the specific details and clearly define the scope of the project itself, including the different roles and responsibilities of team members, develop a detailed plan and set goals, Then create measurable criteria for success, set your own schedule, and keep in mind that some items will likely change along the way. But if your initial plan includes enough details, your team will be able to adapt to any variables
The ultimate goal of directing and managing the project’s execution is to guide
the project to the ultimate goal of fulfilling and meeting the predetermined and
pre-set requirements that was set forth by the buyer at the onset of the
project. The act of directing and managing project execution can be conducted
only by the project leader, or sometimes assigned to individual team members
to manage individual components, or it may be conducted by the project team
as a whole.
