Project managers are often asked to provide time estimates, details on project scope and coordinate teams' efforts so that developments align effectively. This makes time management a critical skill for any PM, as most projects fail because of a lack of schedule management.
Any project, no matter the scale or the number of teams involved, can be broken down into discrete tasks that need to be performed. To create an accurate project schedule, it is first necessary to determine the priority of these tasks and the teams or individuals best suited for each.
The sequence of these tasks is critical to bringing the project in on time and within the established budget. If the progress of one task is overestimated, it can create a cascading scheduling delay that results in a significant waste of resources.
There are many different software options to assist the project manager in visualizing progress and determining the relationship between tasks. Ideally, your chosen software should include decomposition capabilities. Decomposition involves subdividing project elements into smaller, more manageable components in order to provide better time management control. After the list of tasks has been shared to project teams, it is often beneficial to pursue input from the teams or individuals to determine if there are any potential roadblocks or challenges that may have been overlooked.
If your organization has experienced difficulty with bringing projects to a successful completion within original scope, a business management consultant may be necessary to optimize scheduling strategy and increase collaboration between teams. Successful time management is critical to reducing budget overages and ensuring all stakeholders' needs are addressed.