The project manager needs and collects much information while executing a project. The Project Management Institute reports that 26 percent of all information technology projects are successfully completed on time and on budget; 46 percent are late and fail to meet the scope and quality; and 28 percent never even get completed. How can Project Managers deliver their projects on time, on budget and within scope? They must collect and manage the information that the project creates.
Information that the project manager must capture and share includes; intellectual capital, establish and use integrated documentation management, complete and use the work breakdown structure, quantify, qualify and respond to risks and issues, manage the budget, and report to management when needed. These actions if done correctly will help complete a successful project.
Share intellectual capital - as a project manager it is important to access, update, and store all project information so that it is easily available for future use. Make sure that the information is organized in such a way that it does not take long to find what is needed. The best way is to follow a formalized project management methodology. For documents that are updated, keep track of revisions and changes so an audit trail can be established. Make sure that the author and the date is clearly attached to all documents and templates.
Manage Work Breakdown structures - Make sure that a single database is used for the repository for budgets, costs, work effort, resource allocation, and schedule to project level, initiative level, and portfolio levels. This will insure that costs and project execution is managed both bottom up and top down.
Respond to risks and issues - The risk management plan can be used to identify and track risks associated with the project, make sure that the risk triggers are known and risk response plans are in place. Issues will come up while a project is underway. Create a list of issues with assigned resources to resolve and an estimated date to complete.
Budgets - estimate budgets by looking at historical data of similar projects. This is the best way to see what a project should cost. Capture the internal and external effort from the staff and contractors. Make sure to settle up with other business units, functional groups and cost centers; at the end of the project all costs and charges need to be accounted for.
Report - All reports and communication of reports must be complete and distributed respective groups on time. Ensure that the reports contain the appropriate type of information for the audience. A senior manager should not get a detailed issues list. Develop a communications plan and stick to the delivery dates.
A project manager is hired to manage the project and that requires the ability to collect, document, and record all information about a project; then making that information available to other when needed. Communication between other groups, project staff, and other resources is critical to complete the project. Following a project management methodology will help to complete the project on time, on schedule, and within scope.
Brad R. Holt is a Project Manager with 12 years of project and program management; focusing on Organizational Excellence and Building Businesses. Brad's dedication to process simplification and change management defines his work style. Contact Brad at http://www.bradrholt.com if you need help building systems to run a business.
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