The COVID-19 crisis has intensified the interdependence between IT and business strategy. As a result, organizations must integrate IT and business strategy to achieve business objectives as effectively as possible. The convergence of strategy and business will provide companies with potential opportunities and help identify associated risks. Tying every project’s goal to the company’s strategy will ensure optimized results. Project-based operations are now preferred by all organizations to deliver an enhanced experience, product, service, and value. This article at Forbes by Rebecca Zucker discusses how to succeed in the project economy.
Tips for Successful Project Management
The constant need for innovation has made businesses opt for a project management model. Here are some tips to be an efficient project manager:
Align the Project with Business Strategy
Companies need to advance projects that will complement their vision and mission. Projects can bring new value streams to businesses only when they are in sync with their overall strategy. Projects should always head toward achieving the company’s goals and not any individual goal.
Look For Value
Often project managers swamp themselves by running multiple projects in parallel. Identifying and selecting one project that adds value to the organization is more prudent than running various projects that add little value. This practice will help you and your employees avoid burnout and provide the best effort and result. A project for which your employees did not volunteer may be a bad project idea altogether. Being an effective communicator is fundamental when you handle your team. Coaching, communicating, and motivating are integral to keeping your team and project on track.
Be an Effective Communicator
Plans are nothing. Communication is everything. Uncertainty can foil plans anytime because no project is immune to risk. Despite the planning, you might come across pockets that save you time and the ones that make you stretch. In these circumstances, soft skills will be essential to effectively communicate with the team. Being transparent and honest with your employees about the bottlenecks and diversions will help you build a highly functional team.
Adopt Change to Be Successful
When change is the only constant, agility is the best solution. Being leaders at a high level, you must embrace change as quickly as possible to be nimble and get a strong footing. Choose five of your most important projects and give them a dedicated team headed by an executive. Leaders that do not promptly adapt to these changes will need to make space for others to take over.
To read the original article, click on https://www.forbes.com/sites/rebeccazucker/2022/01/11/how-to-succeed-in-a-project-economy/?sh=48e1f58928d9