Efficiency is key for all businesses, especially for small businesses. Reducing bottlenecks and time to finish tasks can really speed up workflow for a business. Because of those reasons, project management is becoming a crucial element for any businesses.

Debunking Project Management Fears

Many small businesses are hesitant when it comes to hiring or incorporating Project Management into their business. This is usually because many business owners feel that planning projects and timelines is a tedious task and takes an enormous amount of time. But, that isn’t true. There are many software available online such as Liquid Planner, Basecamp, Swiftlight, etc., that business owners can utilize to make it easier to plan projects and keep track with assigned tasks of their employees.

Let’s start Planning! Okay, now that you have your software or your interest has been piqued; let’s review the key essentials.

Key Project Essentials

  1. Use a process to track each project, this step will help organize all task and projects within a hub. It will help you organize and prioritize what needs to be done first.  For example, if you own a company doing sales you can track and manage each project’s deadlines from logistics to paperwork.

  2. Track business methods and outcomes, this will help you understand how long, how much resource is needed, and your efficiency on each project for your business.  Using the same example above, you can see how much your business is spending versus the profit margin that you are making per sale.
  3. Manage resources at hand, understand what you can do and cannot. If you are booked and undermanned you won’t be able to supply the demand needed. By knowing your budget, a company can project how they will be spending and can make necessary cuts to maintain efficiency and longevity.
  4. Manage funds and predict spending, each project or task may need a budget. By having an idea how much you can spend on items you can help reduce extra cost and be prepared. By being able to predict expenditures, companies can take extra budget items and use them for future or internal expenses.

By incorporating one of the project management tools mentioned above, you can start listing projects and track all resources going behind each item. All of these software tools provide a tutorial and they are intuitive. Just keep in mind that even if you make mistakes, you are still learning. With your newfound skills in project management you can help elevate your business above your competitors.