Thursday, August 26, 2010

Focus on the Bottom Line

Most Projects are measured by what is delivered at the end. What is the bottom line of your project? What is the Return on Investment? Are you increasing revenue, reducing costs or increase customer satisfaction etc? In any case, make sure that your project objectives are very clear in order to be successful. Also ensure that you  have some metrics in place to track the ROI. You want to be able to document and track your teams success. If you don't then you should think if this project is really needed or whom it is supposed to benefit. To build your reputation (as a Project Manager) you need to present results. Projects change all the time because of the typical conflict of time, cost and scope (triple constraint). Nevertheless you can't be everything to everyone and therefore you have to set priorities.
In order to become a trusted adviser to your stakeholders as well as your project team it has to be very clear that you walk your talk. This is critical and there are no excuses at any time to not adhere to this.
In an ideal case that means you and your team deliver what you said you will deliver on time. In a more common scenario this means you need to focus more on either time or cost or scope. This requires a honest discussion at the beginning of the project but will benefit the project.  Then execute and don't get distracted.