Why Your Projects Fail and How to Avoid Project Meltdown?

Why Projects Fail and How to Avoid Project Meltdown?

There are several reasons why projects fail. Many businesses frequently find deadfalls with projects due to inadequate planning, confusing financials, and neglecting risk management. So what are the business strategies to cope with this problem? Here are some tips to avoid project failure, and if you are already in one, how you can recover from it.

Why Projects Fail?

First of all, it is not unusual for schemes to fail. The main reason for failure is associated with management difficulties, concerning the way a project is approached. There is an endless number of reasons why schemes may crash. Here are the most common and substantial ones.

Lack of Planning

Lack of Planning - Why Your Projects Fail?

A lack of a reliable project plan regarding time management and inadequately set project goals usually drive to a breakdown of the project in the end. Final deadlines that are unlikely to deliver because of excessive workload and a shortage of time, as well as unrealistic goals are making the project to collapse.

Client Changes

Reasons for project failure

When a client chooses to change their priorities during the project, it surely points to a surge in expenses and also to an expansion of the previous set time frame. Clients, stakeholders, or sponsors of the scheme, might modify or add something to the project in the middle of the execution, which is one of the most prevalent causes for a project to fail.

Budget Overruns

Budget Overruns

Inadequate regulation of the budget puts the project in danger. Estimated costs in the initial stages of the plan may appear to look accurate at first, but miscalculating the size of the project and not having a financial backup strategy for unexpected errors that might befall, can cause the resources to overrun immediately.

These are some of the main causes why projects fail; however, there can be more reasons too. A scheme that doesn’t succeed can bring immense harm to your business, whether it results in demolishing the image of the firm or in a loss of clients due to delays of the schedule or budget overruns.

How to Avoid Project Failure?

Executing a project is an open-ended process of planning, outlining time management, budget management, risk management and so much more. To save your project from failure, try these simple tips:

Planning

Planning

Even though the scheme requires a substantial plan and execution, don’t micromanage every area of the project. Comprehensive and systematic preparation, setting practical time schedules, and goals to accomplish step by step, is the most reliable way to succeed. The planning process is ongoing. If anything does not go the way it was intended, you have to review and adapt everything to the changes. The best two preferences in the domain of planning are:

  • Time Schedule (Deadlines and when to meet which goals)
  • Budget Management (How to use your budget and resources efficiently)

Teamwork and Communication

Teamwork and Communication

A precise description of responsibilities and duties encourages everyone to perform their role effectively and decreases the risk of errors or defective work. Open communication should always be one of the top preferences when working in a team, to give everybody the freedom to speak about concerns or queries.

Risk Management

Risk Management - Why Projects Fail

The above-discussed causes for failing usually occur because of a deficiency in risk management. Risk management is all about being prepared and how to respond when a problem arises. The most critical element of risk management is identifying and interpreting the possible hazards that might happen. Identifying potential risks right away makes it more comfortable to deal with them later on.

Timelo offers a Project Time Tracking software solution for more effective project planning. It enables you to create a detailed project and task structures, so you can observe precisely how much time is spent on each activity.

The 3 Most Important Tips for Project Management

The 3 Most Important Tips for Project Management

Project Management is an ever-changing profession that needs its experts to regularly update and develop a new collection of expertise and knowledge. Management, consultation, scheduling, cost control, quality management, and coaching are some of the important skills you need. Still, there are several practices, a result of both experience and skills that work as a base for completing a successful project. So here are the most important tips for project management you must use.

Important Tips for Project Management

These are the 3 most essential points for accomplishing a project successfully and you will be on the right track of your profession as a project manager

Communicate Efficiently

Communicate Efficiently

Always remember that communicating effectively with all of your team members is core to your project’s success. Research on the significance of effective communications discovered that “a startling 56%t of projects (US$75 million of that US$135 million) is at risk due to inadequate communications.”

Even a minute detail can be harmful to your project result. Therefore, if communicated efficiently well ahead of time, everything can be executed accurately and efficiently. Gone are the days when physical presence was necessary for daily meetings and check-ups. Now, the modern digital world empowers us to use different tools, such as SkypeGoogle Hangouts, etc. for productive communication at all times.

Earn Your Team’s Support

Earn Your Team’s Support

Surprisingly, having all the tools in the world to help you can’t ensure the success of the project unless you have your team behind your back. Their support will always play a game-changer part in your projects’ achievement. Win the trust of your team’s every single member by giving importance to their opinions and listening to what they have got to say and interacting with them friendly. Once more, communication is the game-changer. However, interaction with cooperation is the best combination for earning your team’s support.

Use Right Tools

Use Right Tools - Important Tips for Project Management

Executing a project can be both difficult and treacherous. However, using the right tools can go a long way and help you to deal with your nightmares. It will further assist your team members to boost their productivity and enjoy the workflow.

Wondering about the right tools? Great tools like Timelo can help you create tasks and handle specific projects online, track time, and have the capability to different productivity and efficiency reports generated based on your team’s performed overall activities. Furthermore, Timelo is offering a 15-day free trial with no credit card required.

How to do Remote Hiring? A Guide to Get Good Candidate

How to do Remote Hiring? A Guide to Get Good Candidate

The process of remote hiring is becoming a new trend in business. Especially, with the outbreak of the COVID-19 pandemic and other concerns, many enterprises chose to practice remote work as a conventional style of working. And one of the features of this working technique is remote recruitment. To assist you to make the process of remote hiring efficient and get a suitable candidate, here is a guide to doing remote hiring.

Remote Hiring

Remote hiring is almost identical to the regular one. With one big difference – it takes place in a completely-remote mode.

It is a complicated process since it needs a precise strategy and particular actions. So to build an efficient recruitment process for remote workers, it’s essential to document the whole process, from hiring decisions to onboarding.

Remote Hiring

This will benefit you understand the obligations and necessities, produce precision to the hiring process, and limit making mistakes.

Questions and Decisions

Remote workers

Starting with the basics, the foremost step before hiring remote employees is to ask yourself (or the firm) the question of why you need to hire remotely.

Is it because you’re overburdened or there are too many plans and projects in your team? If yes, set your preferences accurately, design workflow, and leave the decision about hiring new people. It’ll only add more work.

Contrary to this, if it’s because your firm requires a candidate effective for a particular job, then you should start thinking about what you require the candidate to be doing.

Talk to your hiring team

Remote Employees

Before you start looking for the right candidate for the remote job, consult the decision with other people. It may be a manager, a CEO, a team member, or the entire team. Talk to those who will be working directly with the person and ask for their feedback.

Who do they see as the right candidate? What skills and competencies should the person have? What role will he or she have?

It’ll reduce a lot of guesswork and boost up the recruitment process.

Determine the recruiting budget

Working remotely

According to the study by Glassdoor, hiring a new employee costs about $4,000 and takes 24 days. Normally, the budget includes expenses for outsourced services, background analyses, spending on particular tools, and other expenses.

So it is important to get carried away with the budget. But also don’t restrict it to the least.

Make a strategy for managing the workflow

Applicant Tracking System - Remote Hiring

Having a workflow management approach will support you manage the recruitment process. It’ll also guarantee a steady information flow.

Another great option is the Applicant Tracking System (ATS). It manages all the ‘paperwork’ and significantly reduces the workflow by automating tiresome responsibilities.

What are the Basic Team Management Skills?

What are the Basic Team Management Skills?

If you just started a new job as a manager, you would be familiar with the challenge you are facing to push your team members together to the ultimate goal. A good starting point is the Warren G. Bennis quote that “Leaders are people who do the right things; managers are people who do things right.” So it is clear that the managers are liable for ensuring that the vision is executed efficiently and successfully. In this article, we will tell you what the basic team management skills are.

Basic Team Management Skills

The main focus of this article is on the particular skills and responsibilities of managers, and on the tools available to them that will help them to use these basic team management skills for the success of the project.

Vision

Vision - Basic Team Management Skills

No doubt, managers usually have the greatest intentions, but they get caught up in handling the day-to-day responsibilities, putting out fires rather than working to unite their people under a common vision. Lack of vision leaves team members feeling unclear about their goals. They understand they’re working hard, but it’s challenging for them to understand their influence. They don’t know which actions to prioritize. As a good manager, you not only need a definite vision, but you also need to carry it well.

Delegation

Delegation

One of the top priorities for team managers is delegation. No matter how experienced you are, there’s only so much that you can complete working on your own. With a team following you, you can accomplish so much more: that’s why it’s so essential that you delegate efficiently.

Prosperous delegation begins with coordinating people and responsibilities, so you first need to define what your team’s role and aims are.

Develop your team

Basic Team Management Skills

Teams are made up of people who have diverse viewpoints and abilities and are at various stages of their professions. Some may find that the tasks you’ve designated to them are challenging, and they may require assistance. Others may be “old hands” at what they’re doing and maybe looking for possibilities to extend their abilities. Both ways, it’s your duty to develop all of your employees.

Your experiences in this perspective of management will determine your long-term achievement as a manager and you’ll make prominent participation in your company, too.

Communication

Communication

Communication skills are necessary for success in almost any role, but there are distinct skills and methods that you’ll use more as a manager than you did as a general worker. These fall under two titles: communicating with team members, and communicating with people outside your team. You should learn and teach both of these.

Respect

Business guides

Being a good manager doesn’t mean necessarily making everyone bow down to your order every time you open your mouth. Differences in viewpoints are inevitable, but a good manager can negotiate others with regard and courtesy, no matter the situation. Ask your subordinates why they think what they think. Consider their ideas, even if you differ. And in case they do something serious that requires to be pleaded, exercise adequate employee discipline to resolve the matter.

How to Manage Multiple Projects Effectively?

How to Manage Multiple Projects Effectively?

As a project manager, you’re probably manipulating several different projects daily. This normally includes handling multiple task lists and schedules, as well as interacting with different stakeholders. Keeping track of everything can get complicated when you’re in charge of multiple projects. Overseeing resources is particularly challenging when you’re taking caring of more and more projects at the same time. So this article will guide you how to manage multiple projects.

Manage Multiple Projects

Without the precise tactics in practice, you risk burning out and failing to meet your deadlines. In this article, we’re going to discuss how you can manage multiple projects efficiently while keeping stakeholders, your team, and yourself happy.

Set Goals

Set Goals - Manage Multiple Projects

Setting goals is important for managing multiple projects successfully. You’ll need to ask stakeholders about their aims for a project before you start working on it. Get everyone on the same page so that stakeholders have practical goals.

It’s up to you to plan and communicate what your team can get done and when they can deliver. Set goals for your team, too. Your team should be informed of the level of accomplishment you need from them to get everything done on time and spec.

Plan Everything

Planning

You might have heard that failing to plan means planning to fail. If you want to avoid missing project deadlines when handling multiple schemes, you’ll need to make certain to stay prepared.

The best technique to do this is to produce a project plan that will assist you predict risks and possible bottlenecks. A reliable plan makes it much more probable that your project is completed efficiently.

Prioritize

Prioritize tasks

Once you’ve planned out your responsibilities, take advantage of your organizational efforts by analyzing your workload at the start of every workday.

Simply go through your to-do list, analyze critical tasks, and try to be practical about how many things you and your team can achieve within a given day. Set priorities and make sure that you’re concentrating on those tasks that need your immediate consideration.

Delegate Tasks

Delegate Tasks - Manage Multiple Projects

You have to accept that you can’t do everything yourself, especially when you’re working on multiple projects at the same time. Don’t be hesitant to delegate critical tasks to your team members. Comprehending when to step back and let others do their duty is a part of being a successful project manager.

Delegating is important if you want to finish projects on time and employ your team in the most efficient way feasible. It will save you time, empower your team, and support you get more done.

Don’t Micromanage

Micromanagement

Project managers who aren’t pleased delegating usually do so reluctantly. Then, they try to micromanage team members to do things precisely their way.

Don’t do that. It destroys the meaning of delegating. Also, micromanagement puts stress on your team, decreases productivity, and undermines their trust in you.

Track Performance

Timelo - Time Tracking Software

Make certain to track your progress across all of your tasks at the same time. It’s easy to concentrate on each project individually rather than looking at the big picture.

For that purpose we recommend Timelo, a time-tracking software to keep the record of worked hours for billing, payroll, and other processes. This great tool is giving 15-day free trial with no credit card required.

Project Management Skills You Need to Learn in 2020

Project Management Skills You Need to Learn in 2020

Being a project manager does not mean sitting on a head chair and giving orders. A project manager is liable for inspecting a project from its initial stages to outlining and all the way through to finish and delivery. And all of this happens after managing the project team, assigning their tasks and responsibilities, observing their progress, all while being under a strict deadline with a restricted budget. In short, being a PM is not easy. So here are some project management skills you need to master to become a successful PM.

Project Management Skills

In this article, we have included some basic and crucial skills a project manager needs to have in today’s rapidly developing world, why they are so essential to have, and what you can do to master them.

Communication

Communication - Project Management Skills

One of the basic skills for project management is communication and essentially, a project manager’s job consists of communication with their team, with entrepreneurs and merchants, with project stakeholders and even clients. That’s why being qualified to carry one’s perception, opinions, and thoughts in a way that’s open, practical, and simply recognized, as well as being able to understand others, is an outright necessity.

Negotiation

Negotiation

Right after the communication comes negotiation. Executing a project is much like politics. It usually involves a group of different people, sometimes with different aims and opinions, and it’s the PM’s responsibility to find the middle spot and make certain that everyone is satisfied. A good project manager is being able to get everyone on the same platform and find a solution on which everyone agrees, or at the very least nobody feels their idea is neglected, is an ability that every successful project manager needs.

Leadership

Leadership

If there is one skill that describes the role of a project manager, it’s leadership. As a project manager, you don’t just supervise people around, you lead. You set the idea, set goals, and drive your team members to achieve them. And it’s your responsibility to make certain that everything along the process is going fine at all times – issues are quickly dealt with, any proposals or inquiries are discussed, and team performance is always observed and assessed with timely feedback.

Planning and Scheduling

Planning and Scheduling

Another one of the basic skills needed for successful project management is planning and scheduling. Without a plan, there is no project. So the strength to establish the project goals and split them down into actionable tasks. Good planning includes things on both the larger-scale – outline scope, material requirements, timelines, assessments, deadlines to smaller, as well as more ordinary things – organizing your projects throughout the day and making a to-do list with your everyday goals.

Risk Management

Risk Management - Project Management Skills

Directly linked to planning is risk management skills. Planning a project always involves several risks. Things can go reverse; it’s just the nature of business. And it is your responsibility as a project manager to analyze those risks to make certain they don’t become obstacles, as well as have a substantial plan for how to alleviate them if they do.

Time Management

Time Management

A big duty of being a project manager is determining and communicating what your team will be spending their time on, as well as keeping control of your own time. And this is where a strong grip on time management becomes really important. As a person in charge of a team of people with dozens of various tasks, there’s an unending list of things you need to be aware of at any given time. A good project manager can quickly decide which tasks need preference over others, what tasks are the most critical and should be worked on right now and which ones to delay for some time.

How to Manage Tasks Better with Basic Planning?

How to Manage Tasks Better with Basic Planning?

If you are wondering how to manage tasks better, then you are in the right place. One of the best techniques to stay organized at work is with a well-structured strategy. Not only does a task management plan give specific administration in your own daily efforts, it gives you better command over group or collaborative goals. In this article, we will discuss the basic planning tips to manage your task better.

How to manage tasks?

A few of basic planning elements form the basis of most management tactics. So if you’re ready to learn how to organize tasks at work with a strategy to improve productivity and keep distractions at bay, keep reading.

Break big goals into small objectives

Break big goals into small objectives - How to manage tasks?

Breaking large-scale goals into smaller, more actionable steps is the only approach to map out a feasible method for organizing work and marking progress.

By working with a combo of short-term and long-term objectives, you can:

  • prioritize and direct actions that will need to be taken
  • recognize how each action suits into the whole

Clarify objectives by converting them into series of tasks

Clarify goals

Arranging mini-objectives into tasks and sub-tasks allows you produce a range of daily and weekly to-do’s for yourself or team members. One benefit of understanding precisely what needs to get done and when is that you won’t feel so confused by the bigger endgame.

So to stay on point, provide your process a boost with task management software that will also track your time.

Lay out and manage task timelines visually

Manage task timelines visually

Running multiple projects – whether they’re daily, weekly, or group project one-offs – is much less of a trouble when you have a crystal-clear view of:

  • the start date and end date for each task
  • the various milestones along the way

Not only does visualizing your plan make it more comfortable to evaluate your own progress, it allows you inspect the status of shared tasks and revise or update pre-planned actions as required.

Implement this plan with centralized system

How to manage tasks?

Now that you have a strong hold on how to manage tasks for better performance at work, how do you bring these fundamental elements together?

Having determined that the most reliable approach to stay organized at work is with a personal or team task management plan, it should also be obvious that the best approach to design and implement that plan is with the help of one centralized system.

What is Float Project Management and what are the Benefits of It?

What is Float Project Management and what are the Benefits of It?

If you’ve been working in project management for quite some time, then you have presumably heard about float project management. While it is not so famous as other project management structures, float project management can be an effective way to boost your projects and give your productivity a great rise.

Float or slack is the amount of time an assignment or task can be delayed without it affecting the overall deadline or other assignments in the project. Counting them can assist you to verify your project plans and make certain you recognize whether you’ll be able to finish projects on time.

What is Float Project Management?

What is Float Project Management?

Float project management is a kind of project management that assists you to verify your project plans and work out how much time individual assignments can shift without affecting the overall timeline or delivery date.

If you already have a reliable method of handling the assignments that make up a project but cope with resource management or resource scheduling, float project management can be an exceptional approach to evaluate your team’s time more precisely and stop projects missing their deadlines.

What are the Benefits of it?

Benefits of Float Project Management

Float project management is extremely helpful because it assists distinguish which tasks are ready to be affected by delay or restructuring without harming your overall project. It also assists you to stop cutting path tasks from being taken back or moved which then prevents your project from missing the deadline.

Being able to distinguish float or slack in your projects is especially beneficial. Finding compliance in your plans indicates you can improve resource scheduling without requiring additional client or management approval for new deadlines. 

How to Calculate Float in Project Management?

How to Calculate Float in Project Management?

If all of this seems beneficial to you, you’re apparently thinking about how to determine float time in your projects. Luckily, float can be readily calculated using the float time formula.

The float time formula works out float using the earliest and latest start or finish times for individual tasks. The formulas are:

  • Float = Late Start – Early Start 
  • Float = Late Finish – Early Finish

For illustration, let’s consider two tasks, Task A and Task B. Task B can’t start until Task A is completed and Task A takes 5 days. But in your schedule, you’ve allotted 15 days for Task A to be finished. That implies that Task A could start 10 days after the scheduled start date without affecting Task B. The float for Task A is then 10.

How to Make Project Cost Breakdown?

How to Make Project Cost Breakdown?

Every project needs a proper planning before execution. Making work scope and estimating the time and resources for the completion of any project because it provides the basic idea of the next important step; estimating project cost. Though initial estimates are hardly accurate, it is possible to increase the accuracy by creating project cost breakdown and in these business guides will help you to do so.

In any case, clarity and logical structure of the cost breakdown is a must. Structuring a cost breakdown clearly and correctly is a tedious task, but it is important for future communication with clients and for a better understanding of how costs can be managed in the course of the project.

Project Cost Breakdown

In different project evaluation schemes, project cost breakdown can be used for producing more precise assessments of the ultimate figures. Given below are the tips to create a project cost breakdown.

Expert judgment

Expert judgment - Project Cost Breakdown

Experts’ evaluations used to make up for the lack of transparency in existing cost breakdown can control cost drivers where more clarity is needed. While this approach is used to come up with more precise calculations, a notable difference between the planned and the final figure is still possible.

Analogous estimation

Analogous estimation

Comparing estimations based on cost breakdown for earlier projects with new similar ones assists improve estimation methods and get a more detailed evaluation of project costs, profitability, and overall outcome.

Bottom-up analysis

Bottom-up analysis - Project Cost Breakdown

Planned project costs are structured on the basis of the costs of small tasks, services, and product parts. High efficiency is obtained by taking into account all cost drivers, including costs of everyday works, overhead, and potential extra costs.

Top-down analysis

Top-down analysis

A top-down cost structure can be used for coming up with a ballpark assessment of the final cost. When using it, it’s necessary to factor in different supplementary costs not included in the initial assessment.

Parametric estimation

Parametric estimation

This estimation process can be used with cost structures where cost drivers are predictable and calculable. On the basis of existing data, various parameters can be determined with a high precise degree.

How to Organize Your Day at Work?

How to Organize Your Day at Work?

There are times and situations when we thought that we could’ve done more work or possibly faced some situations when some critical tasks were left unfinished by the end of the day. How about the feeling of misused time? It happens because of a lack of strategy for organizing our day. If any of those situations feel familiar, it’s important to do some organizing. In this article, we will tell you some simple tips on how to organize your day at work.

Organize Your Day at Work

Be on Time

Be on Time - Organize Your Day at Work

Reaching at your workplace on time isn’t just an everyday habit. It assists you to stay focused and confident and gives more time to get ready for the day’s work. Not to mention leaving a big impression about you on your coordinates and managers.

Make To-Do List

To-Do list

It is productive to make a better list of tasks that needed to be done before you start working properly. Start with the most crucial ones — those need to be done first. This will allow you to concentrate on them more and give sufficient time to complete them precisely. The simple and short ones should be left for later, as you won’t need much focus to finish them. Note that your list can be digital — it’s more comfortable and more natural to operate.

Check your mail

Checking emails

Checking your email before doing important work should be a rule, as it can distract you later. While checking your inbox center on the most relevant messages and respond only to the most critical ones. It’s straightforward to misplace yourself in checking your email continually, so keep it to a bare minimum — no more than 3-4 check per day. The same is the case with checking voice mails.

Reward Yourself

Reward yourself

Motivation and recognition are very essential for productive work. So it’s great to present yourself small rewards after finishing a tough task. Even something as minute as a tea break can work phenomenally after an obnoxious meeting with a client.

Take Breaks

Take short breaks - Organize Your Day at Work

Even on the most hectic day, you need a pause. Continuous work produces a lot of stress and isn’t as powerful as you might imagine. Your mind and body require some downtime every now and then. It’s best to spend your break outside your workplace, as it assists you to relax and tackle the difficulty later with new enthusiasm. Frequent breaks are great for maintaining your productivity high every day.

Avoid Multitasking

Avoid Multitasking

It takes a long time to regain your concentration on the task at hand if you take your focus away from it, it will take you much more time to regain it. So if you need to be productive, set your mind on one task at a time. As a non-focused mind is not useful for productivity and achieving a desirable goal.

Be Realistic

Set realistic goals

Confidence is helpful but you should keep it in line at the workplace. Your goals must be realistic and you have to recognize that it can be tricky to accomplish everything you’ve planned for a particular day. The same task will be presumably left for the next day. Just try to organize the remaining tasks for the next day. This will assist you to be free of depression and anxiety.