One of the most pivotal aspects for any project is to have an effective time management system. Time is a significant factor that cannot be wasted in the ever changing and competitive market.
Business organizations have multiple projects on their platter and without a workable time management system – the execution process can go haywire.
As project managers and groups work on several different tasks with different deadlines, they need to maintain time lines to reach towards a common goal.
Time management is required for sticking to the schedule set for projects and abiding by it for each phase of the progress. An effective time management system allows users to review task, add time, comment, and assign tasks to the team members.
Let’s look into 7 pivotal time management techniques for successful projects:
- Time Management Strategies with the 20/80 Rule: Project managers are always looking for the fastest and most efficient ways to get projects delivered successfully. To achieve this, one of the best used principles is the 80/20 rule, also called the “Pareto Principle”. This principles emphasises on identifying 20% of project goals that have 80% of impact on the overall project. It enables users to focus on 20% of project activities which facilitates to achieve 80% of goals, saving the project time. By following this principle, users can focus on the most important activities, which also helps maximize the most effective time to perform project actions. This principle helps categorise the tasks on hand, segregate them on basis of their importance and helps users to achieve project goals in a much more effective manner.
- Project scheduling and prioritizing: It is imperative to have a schedule for the project workflow. The tasks of any project need to be scheduled based on the importance of the same. The best way to schedule projects is to prioritize the tasks that need to be performed. Prioritizing tasks is vital to manage time effectively for everyone who is involved in the project. This brings great improvement in project outcomes and ensures that the project is completed within the allotted time and budget. In order to manage the project time and deliver the same in a timely manner it is critical to identify different activities or tasks and define the sequence according to importance. A daily to-do list gives clarity on the task priorities and enables users to remain focused on achieving the project objectives. Prioritizing tasks and setting a time to deliver them drives the team to work responsibly.
- Breaking tasks into smaller actions: Breaking down tasks into sub-tasks and setting deadlines helps to keep the team on track to deliver on time. When a schedule is set for each task it further helps team to stay on track, thus adhering to the time schedule for every project. By breaking the tasks into sub-tasks users can save time by sorting the priority, task duration, completed phase, the to-do-tasks, the team and individuals assignees.
- Adhering to deadlines: Each project has start and end dates that define the time frame for the project progress. A set time schedule enable teams to work towards meeting deadlines with a sense of discipline in the team. As and when project managers assigns team members for different tasks, they set specific time frames or deadlines for the completion of the task. Meeting time lines enable teams to remain focussed all through the project progress and finish it on time.
- Control and Monitor time schedules: Controlling and monitoring time schedules facilitates projects to remain within the allocated schedule, meeting the goals for successful delivery. Time durations for each activity are met in the most effective manner with proper control and monitoring on project activities. It becomes easier to record updates and keep track of the task status on a regular basis. This helps control and monitor the flow of the tasks in a methodical manner and adjust with the issues faced during the project execution.
- Check the dependencies among tasks: Each project activity or task is dependent on each other and it is important for project managers to check the dependencies among the tasks to keep things on track. The cross section of dependencies enable to determine the order and time in which activities need to be performed. Tasks that need to be performed are sequenced according to their dependencies for each other, which further facilitates saving time. Project dependencies impact scheduling and resource activities, giving effective opportunities to improve the project schedule. Resource based dependencies are important for assigning proper resources from the team based on the expertise of each team member.
- Focus on regular communication: Working effectively with others, maintaining transparency and collaboration are some of the most important factors needed to meet deadlines. Keeping the lines of communication open among a cross section of teams is vital to keep them working towards a focussed goal on time. Collaboration maximises the productivity and harnesses time management, ensuring that the project group work together for a common cause and achieve the desirable project objectives. Spending time to focus on project opportunities, the risks that can act as a challenge while proceeding on the project and implement strategies to overcome setbacks help save time and give better results. Saving time by brainstorming effective solutions and implementing workable ideas enables timely project delivery. Conducting reviews on the progress of the project on a regular basis helps keep the team connected and performing on time.
By following a systematic time management system, which is a vital feature in Task2Bill, a project and invoice management tool, business organizations are successfully achieving reliability, accuracy and competency in the industry.