Effective project management is a crucial factor that determines the success of a business. However, according to a study published in the Gallup Business Journal that surveyed 10,640 projects from 200 organizations in 30 countries, merely 2.5% of the projects were successful.
Poor project planning and management can cost a company millions of dollars. In the 2016 Pulse of Profession, the Project Management Institute (PMI) published a sobering result after interviewing almost 2500 project managers, directors, and other executives. According to the interview results, organizations in the USA waste approximately $122 million for every $1 billion invested due to poor project management.
What are The Effects of Poor Project Management Planning?
The effects of poor project management don’t stop at a financial loss. Instead, the consequences include:
- Decreased employee confidence
- Betrayal of clients’ trust
- Bad reputation
- Project schedule delays
- Sustainability risk to the organization
You can seek to edit my essay services in colleges and universities whenever you’re in a pinch. There are hundreds of professional project managers and business experts to lend you a helping hand. However, you cannot hire another project manager to take over your assignment in a professional setting. The onus of the responsibility lies on you.
Leading Reasons Behind Poor Project Management
Project management failure can happen to any organization, even for the simplest tasks. Even though different organizations handle projects differently, researchers have found a few common problems plaguing businesses.
In 2007, several authors conducted an anonymous survey of professional project managers. According to the study, 43% of the respondents believe communication factors were the key to project failures. Meanwhile, 43% believe process factors were the main issue, while 32% believe that people involved in the project were the source of poor results.
The results align with a Computing Technology Industry Association (CompTIA) survey where nearly 28% of more than 1000 respondents cited poor communication skills as the #1 reason for project failure. Other reasons that contribute to poor project management are:
- Lack of preparation
- Improper documentation
- Horrible leadership
- Inexperienced project managers
- Inaccurate cost estimates
For students seeking project management assignment help in the US, it is best to understand the reasons behind project failures thoroughly. Otherwise, you’ll land in immense trouble when working for an organization.
7 Tips Project Managers Swear by for a Successful Project Management Plan
Suppose you’re looking for project management assignment help online to develop the best plan. In that case, this comprehensive guide compiled by the most efficient project managers in the USA will help you out.
Tip 1: Understand the requirements of the stakeholders
Project planning starts with a meeting with the key stakeholders to understand the task’s requirements. Even if the project stakeholders are identified in a document, you should always meet with them to check if the list is accurate. Furthermore, discussing the project objectives and scope with them before starting the assignment ensures everyone is on the same page.
Tip 2: Define the project scope
Once you’ve received proper communication from the stakeholders, you need to define the project scope to manage the stakeholders’ expectations and ensure the project elements align with the objectives. You must develop a detailed outline of the project aspects and boundaries in this stage. It also allows you to figure out the project constraints.
Tip 3: Break down the project into manageable tasks
Most students seeking project management assignment writing help from professionals are intimidated by the volume of the work. For example, if you have to write a dissertation of 100+ pages, there’s nothing more terrifying than staring at a blank page for hours.
Similarly, the best way to ensure a project’s success is to break the scope into smaller, more manageable sections. When you assign different teams to these “work packages,” you can facilitate better planning and coordination.
Tip 4: Estimate the duration, cost and resources
The scope of the project allows you to estimate the duration needed, costs and resources more accurately. Without proper estimation, it becomes challenging to figure out whether the project is progressing at the appropriate pace or whether you’ve exceeded the assigned budget or not. Therefore, having an accurate estimation of these details facilitates better planning and increased chances of project success.
Tip 5: Assign the tasks according to skills and resources
The success of a project depends on ensuring you have the required resources for successful completion. Additionally, it would be best to allocate the work packages to people who have the skills necessary to complete them successfully. For example, if you assign software development for a high-profile client to someone with entry-level knowledge of the task, you’ll run into problems with quality sooner or later.
Tip 6: Develop proper backup plans
Having contingency plans for every project allows you to be prepared for any hurdle that comes your way. But, of course, you cannot predict the future, and there’s no guarantee that the project will go smoothly. That’s why you should look into the history of similar projects and identify the risks that might derail your assignment.
Several internal and external factors can impact your project’s success. For example, if you’re relying on a vendor for some resources crucial to your project, it’s best to keep some backup vendors if the one you’ve hired fails to deliver the required materials on time. Therefore, you should always have multiple contingency plans to counter every problem that might hamper your assignment.
Tip 7: Provide quality control in every step
Develop a baseline for the scope, schedule and cost for every stage of the project. This allows you to determine whether the project execution is going according to plan. In addition, checking the work progress in every phase enables you to identify the issues that crop up and take corrective actions before it’s too late. After all, it’s easier to correct mistakes in the initial stages than after the project is completed.
Summing it up,
Project management is one of the most lucrative career options, as businesses are always on the lookout for brilliant project managers. However, if you don’t have a clear idea about developing the perfect plan to see through the assignment, you can hire project management assignment help services to lend you a helping hand.