As a company grows there are more employees, more projects, more clients and more complexity to deal with. It is vital that effective project management processes are in place to ensure that order reigns in all that chaos. Are you able to effectively repeat the sales process? Or the client on boarding process? Do you know if a project is behind schedule? Or over budget?
A business that doesn’t take the time needed to create a project management structure can quickly lose profitability. The time, money and energy lost to an inefficient system can add up faster than you can even say project management. A little here, a little there, without you really noticing until it’s too late. If, however, you have a solid project management plan in place, you’ll better be able to track the project through each stage of completion and understand the key health metrics of it. You’ll know how it’s faring compared to its budget, or whether or not the work is being done accordingly to deadlines.
The biggest advantage of a good project management system is that it allows you and your company to repeat the process with similar outcomes each time. No, not every project is exactly the same, but projects tend to have a similar enough structure that you’d be able to use the same system for the majority of projects. You won’t have to reinvent the wheel every time you get new work and you’ll better be able to forecast the costs and deadlines for the project as well. Start by looking at what project management systems you have in place today. Are they working relatively well? Or are you constantly behind schedule and over budget? It could be an ineffective project management process that is to blame.
If you’d like to be more intentional about your company’s growth, we can send you a workbook that addresses the most pressing issues a company of your size faces. Just register here to let us know the size of your company.