{"id":686,"date":"2022-11-18T14:41:24","date_gmt":"2022-11-18T13:41:24","guid":{"rendered":"https:\/\/cms-bw.freelo.io\/?p=686"},"modified":"2024-04-05T13:39:20","modified_gmt":"2024-04-05T11:39:20","slug":"what-is-project-management-and-how-it-can-help-increase-your-teams-effectiveness","status":"publish","type":"post","link":"http:\/\/cms-bw.freelo.io\/en\/what-is-project-management-and-how-it-can-help-increase-your-teams-effectiveness\/","title":{"rendered":"What Is Project Management and How It Can Help Increase Your Team\u2019s Effectiveness"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Less than <\/span><a href=\"https:\/\/financesonline.com\/project-management-software-statistics\/\"><span style=\"font-weight: 400;\">half of companies<\/span><\/a><span style=\"font-weight: 400;\"> consider the implementation of project management important. All the while, the <\/span><a href=\"https:\/\/www.pmi.org\/-\/media\/pmi\/documents\/public\/pdf\/learning\/thought-leadership\/pulse\/pmi-pulse-2020-final.pdf?v=2a5fedd3-671a-44e1-9582-c31001b37b61&amp;sc_lang_temp=en\"><span style=\"font-weight: 400;\">statistics <\/span><\/a><span style=\"font-weight: 400;\">speak clearly:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>67%<\/b><span style=\"font-weight: 400;\"> \u2013 On average, this is how many more projects fail for companies that undervalue project management.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>11%<\/b><span style=\"font-weight: 400;\"> \u2013 This is how many resources companies waste on unnecessary processes associated with poorly implemented project management.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>37%<\/b><span style=\"font-weight: 400;\"> \u2013 This is how many project failures are caused by poorly defined project goals.<\/span><\/li>\n<\/ul>\n<p><!--more--><span style=\"font-weight: 400;\">But enough about the numbers \u2013 <\/span><b>do you know how to ensure your project does not fall into these statistics<\/b><span style=\"font-weight: 400;\">? Take a moment to<\/span><b> find out in our <\/b><b>comprehensive <a href=\"https:\/\/www.freelo.io\/en\/project-management-wiki\">guide to project management<\/a><\/b><span style=\"font-weight: 400;\">. Because a few minutes of reading is worth it compared to a failed project, right?<\/span><span style=\"font-weight: 400;\"> \ud83d\ude42<\/span><\/p>\n<h2>What Is Project Management?<\/h2>\n<p><span style=\"font-weight: 400;\">Project management is essentially the planning of steps, which lead <\/span><b>from the original idea to the final project evaluation<\/b><span style=\"font-weight: 400;\">. <\/span><b>The goal of project management is to successfully execute a project<\/b><span style=\"font-weight: 400;\">. However, it does not just have to do with the well-known project management triangle, it is a <\/span><b>set of various important actions<\/b><span style=\"font-weight: 400;\"> in all phases of the project (from planning to implementing to taking measure of the project).<\/span><\/p>\n<figure style=\"width: 960px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"br-2 sm-br-3\" src=\"http:\/\/cms-bw.freelo.io\/wp-content\/uploads\/2022\/04\/Co-je-projektove\u0301-r\u030ci\u0301zeni\u0301.webp\" alt=\"Projektov\u00fd management je \u0159\u00edzen\u00ed r\u016fzn\u00fdch proces\u016f v projektu\" width=\"960\" height=\"640\" \/><figcaption class=\"wp-caption-text\">Project management is the administration of a range of processes in a project. <em><a href=\"https:\/\/twitter.com\/rahiiee\/status\/1491388692295929858\/photo\/1\">Source<\/a><\/em><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Let&#8217;s say that you have a great idea for a project and you want to go through with it. What next? To make everything work, you first need to:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>define the goal of the project<\/b><span style=\"font-weight: 400;\"> (what you want to achieve and why \u2013 e.g., a new website design to generate more traffic),<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>define the objective of the project<\/b><span style=\"font-weight: 400;\"> (a measurable effect after the project is completed \u2013 e.g., 30% more website traffic within 6 months),<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>identify the appropriate project management methods and techniques<\/b><span style=\"font-weight: 400;\"> for your project,<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>assemble a team<\/b><span style=\"font-weight: 400;\"> led by a project manager<\/span><span style=\"font-weight: 400;\">,<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>plan a project timeline<\/b><span style=\"font-weight: 400;\"> (by when you want to achieve your goals \u2013 task deadlines, major milestones, and project completion),<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>assign tasks<\/b><span style=\"font-weight: 400;\"> (so everyone knows what to do and what they&#8217;re responsible for),<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>create a budget<\/b><span style=\"font-weight: 400;\"> (in the initiation phase by estimating, in the planning phase by calculating),<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>plan communication<\/b><span style=\"font-weight: 400;\"> within the team (meetings, through what medium, how often, etc.),<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>determine the possible risks<\/b><span style=\"font-weight: 400;\"> of the project (e.g., through a <\/span><a href=\"https:\/\/en.wikipedia.org\/wiki\/SWOT_analysis\"><span style=\"font-weight: 400;\">SWOT analysis<\/span><\/a><span style=\"font-weight: 400;\">).<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Alright, but how do you do it <\/span><span style=\"font-weight: 400;\">practically<\/span><span style=\"font-weight: 400;\">? How do you get everything in order? How to set it all up and<\/span><b> how to organize the steps?<\/b><b> \ud83d\udc47<\/b><\/p>\n<h2>Why Implement Project Management Software in Your Company<\/h2>\n<p><span style=\"font-weight: 400;\">Sure, it can be done in excel spreadsheets, emails, and flipcharts\u2026<\/span><\/p>\n<figure style=\"width: 718px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"br-2 sm-br-3\" src=\"http:\/\/cms-bw.freelo.io\/wp-content\/uploads\/2022\/04\/image1.gif\" alt=\"Gif Southpark, projektov\u00e9 \u0159\u00edzen\u00ed\" width=\"718\" height=\"404\" \/><figcaption class=\"wp-caption-text\">You&#8217;ll have a better overview of tasks and processes in a project management tool, not on a flipchart. <em><a href=\"https:\/\/twitter.com\/cdbond\/status\/1491551831260078083\">Source<\/a><\/em><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">\u2026but it is not really pragmatic. <\/span><a href=\"https:\/\/www.freelo.io\/en\"><b>Project management software<\/b><\/a><b> can ensure you systematize your work much more efficiently<\/b><span style=\"font-weight: 400;\">. With such a tool, you can <\/span><b>assign tasks, communicate<\/b><span style=\"font-weight: 400;\"> with all participants in the project (including freelancers), <\/span><b>monitor the budget<\/b><span style=\"font-weight: 400;\"> and deadlines, or even <\/span><b>measure time<\/b><span style=\"font-weight: 400;\"> spent on tasks and the entire project.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-689\" src=\"https:\/\/cms-bw.freelo.io\/wp-content\/uploads\/2022\/11\/Freelo_EN_A1-1.png\" alt=\"\" width=\"2016\" height=\"1108\" srcset=\"http:\/\/cms-bw.freelo.io\/wp-content\/uploads\/2022\/11\/Freelo_EN_A1-1.png 2016w, http:\/\/cms-bw.freelo.io\/wp-content\/uploads\/2022\/11\/Freelo_EN_A1-1-300x165.png 300w, http:\/\/cms-bw.freelo.io\/wp-content\/uploads\/2022\/11\/Freelo_EN_A1-1-1024x563.png 1024w, http:\/\/cms-bw.freelo.io\/wp-content\/uploads\/2022\/11\/Freelo_EN_A1-1-768x422.png 768w, http:\/\/cms-bw.freelo.io\/wp-content\/uploads\/2022\/11\/Freelo_EN_A1-1-1536x844.png 1536w, http:\/\/cms-bw.freelo.io\/wp-content\/uploads\/2022\/11\/Freelo_EN_A1-1-1568x862.png 1568w\" sizes=\"auto, (max-width: 2016px) 100vw, 2016px\" \/><\/span><span style=\"font-size: 10pt;\"><span style=\"font-weight: 400;\">An example of project management in <\/span><a href=\"https:\/\/www.freelo.io\/en\"><span style=\"font-weight: 400;\">Freelo<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/span><\/p>\n<p><span style=\"font-weight: 400;\">The advantage being that you can <\/span><b>keep track of things at all times<\/b><span style=\"font-weight: 400;\"> and can effortlessly review whatever was being dealt with. You know exactly <\/span><b>who is working on what<\/b><span style=\"font-weight: 400;\">, how long it took them, and what impact it had on the budget. So <\/span><b>no more pointless meetings<\/b><span style=\"font-weight: 400;\"> and searching for information in a pile of handwritten notes. <\/span><span style=\"font-weight: 400;\">\ud83e\udd73<\/span><\/p>\n<figure id=\"attachment_691\" aria-describedby=\"caption-attachment-691\" style=\"width: 843px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-691 size-full\" src=\"https:\/\/cms-bw.freelo.io\/wp-content\/uploads\/2022\/11\/Nikon-1.png\" alt=\"\" width=\"843\" height=\"543\" srcset=\"http:\/\/cms-bw.freelo.io\/wp-content\/uploads\/2022\/11\/Nikon-1.png 843w, http:\/\/cms-bw.freelo.io\/wp-content\/uploads\/2022\/11\/Nikon-1-300x193.png 300w, http:\/\/cms-bw.freelo.io\/wp-content\/uploads\/2022\/11\/Nikon-1-768x495.png 768w\" sizes=\"auto, (max-width: 843px) 100vw, 843px\" \/><figcaption id=\"caption-attachment-691\" class=\"wp-caption-text\">Nikon on the advantages of Freelo as their project management software. <em><a href=\"https:\/\/www.freelo.io\/en\/references\">Source<\/a><\/em><\/figcaption><\/figure>\n<h2>How Good Project Management Increases Work and Team Efficiency<\/h2>\n<p><span style=\"font-weight: 400;\">The statistics at the beginning of this article made it clear that you should not underestimate project management. And indeed, with the correct project management setup and a capable project manager:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You are more likely to complete the project successfully.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You save time and costs. (Thanks to a well-planned schedule and budget.)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You have efficient, fast, and clear communication with the whole team.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You know the risks of the project and can react to them.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The project is more likely to be profitable.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You have a constant overview of the project&#8217;s status.<\/span><\/li>\n<\/ol>\n<h2>When Things Don&#8217;t Go as Planned&#8230;<\/h2>\n<p><b>It&#8217;s normal<\/b><span style=\"font-weight: 400;\">, and you should be prepared for it. Things just don&#8217;t always go according to plan. And since <\/span><b>you face challenges and unexpected problems on a daily basis<\/b><span style=\"font-weight: 400;\">,<\/span> <span style=\"font-weight: 400;\">that goes for project management too. How to deal with them? Perhaps by embracing the <\/span><b>increasingly popular <\/b><a href=\"https:\/\/en.wikipedia.org\/wiki\/Agile_software_development\"><b>Agile development practices<\/b><\/a><span style=\"font-weight: 400;\">. These allow you to <\/span><b>lead a project flexibly, strategize as you go along, and not get tied to a year-old plan<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<figure style=\"width: 1024px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"br-2 sm-br-3 bs-4\" src=\"http:\/\/cms-bw.freelo.io\/wp-content\/uploads\/2022\/04\/image5-1024x669.png\" alt=\"Agiln\u00ed metody \u0159\u00edzen\u00ed projektu, jak je zav\u00e9st do firmy\" width=\"1024\" height=\"669\" \/><figcaption class=\"wp-caption-text\">How to implement agile project management methods into your company. <a href=\"https:\/\/medium.com\/swlh\/the-ultimate-guide-to-building-products-the-agile-way-8e376d4a4cd4\"><em>Source<\/em><\/a><\/figcaption><\/figure>\n<h2>The Future of Project Management: How to Prepare for Technological and Societal Changes<\/h2>\n<p><span style=\"font-weight: 400;\">Technology, the economy, and society are evolving at an ever-increasing pace, and this will affect a field like project management. (In fact, project management has gradually evolved into its own <a href=\"https:\/\/www.theuniguide.co.uk\/search\/course?utf8=%E2%9C%93&amp;c%5Bq%5D=Project+Management\">university major<\/a>.) <\/span><b>According to <\/b><a href=\"https:\/\/www.forbes.com\/sites\/danabrownlee\/2019\/07\/21\/4-project-management-trends-on-the-horizonare-you-ready\/?sh=3c6b9a8d6769\"><b>Forbes<\/b><\/a><b>, project management will change in the near future mainly in the following ways:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b style=\"font-weight: 400;\">Agile <\/b><b>development<\/b><b style=\"font-weight: 400;\"> will become more common: <\/b><span style=\"font-weight: 400;\">Companies that can adapt to rapid developments have a big advantage. Will an unexpected economic upheaval disrupt your budget? Will you have to adjust your project&#8217;s timeline because of societal changes? It doesn&#8217;t matter since you manage the project with an agile approach, so you can react flexibly.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Artificial intelligence will dominate processes <\/b><span style=\"font-weight: 400;\">\u2013 <\/span><a href=\"https:\/\/www.pwc.com\/mu\/pwc-22nd-annual-global-ceo-survey-mu.pdf\"><span style=\"font-weight: 400;\">85%<\/span><\/a><span style=\"font-weight: 400;\"> of CEOs worldwide believe AI will significantly impact business in the coming years. But at the same time, it is hard to find qualified staff to introduce at least some kind of AI into companies. This sounds like a challenge for project managers \u2013 with a basic understanding of robotics, data science, and other areas of AI, you will have a big enterprise advantage. <\/span><span style=\"font-weight: 400;\">\ud83d\ude42<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>More emphasis on empathy and soft skills for project managers<\/b><span style=\"font-weight: 400;\"> \u2013 According to <\/span><a href=\"https:\/\/www.forbes.com\/sites\/tracybrower\/2021\/09\/19\/empathy-is-the-most-important-leadership-skill-according-to-research\/?sh=646485c93dc5\"><span style=\"font-weight: 400;\">Forbes<\/span><\/a><span style=\"font-weight: 400;\">, empathy is the most important trait for team-leaders and will be increasingly emphasized. Be interested in your team members \u2013 in what they are feeling and if their sudden drop in productivity is related to personal issues. Soft skills are increasingly high on the list of manager abilities.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In conclusion \u2013 <\/span><b>How do you know if you set project management up correctly?<\/b><span style=\"font-weight: 400;\"> By successfully completing a project that:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">meets its goals,<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">meets a predetermined measurable objective,<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">isn&#8217;t over budget,<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">follows the schedule,<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">eliminates potential risks,<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">makes effective use of all resources,<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">has a positive impact on society.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Less than half of companies consider the implementation of project management important. All the while, the statistics speak clearly: 67% \u2013 On average, this is how many more projects fail for companies that undervalue project management. 11% \u2013 This is how many resources companies waste on unnecessary processes associated with poorly implemented project management. 37% &hellip; <\/p>\n<p class=\"link-more\"><a href=\"http:\/\/cms-bw.freelo.io\/en\/what-is-project-management-and-how-it-can-help-increase-your-teams-effectiveness\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;What Is Project Management and How It Can Help Increase Your Team\u2019s Effectiveness&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-project-management-wiki","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What Is Project Management | Business Wiki<\/title>\n<meta name=\"description\" content=\"Find out what Project Management is and why statistics show substantial increased effectiveness in companies that value it.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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