Is it easy to be a start-up founder? Well, in the initial stages of your start-up you might be able to multitask as the CEO, the Sales and Marketing head and work as an entire HR department. As your venture expands, it gets daunting when the complete management goes haywire and you are worn to a frazzle ! It gets difficult to take your projects to the finish line and that’s where the responsibility of a ‘Project Manager’ comes into play. However, in the beginning of your startup journey you can’t afford to waste both your time and money as the resources are limited.
Fortunately, in the current digital world you don’t need to hire a professional Project Manager. Some basic understanding of the policies, processes and the right Project Management tool will help your teams in task management and effective communication.
Let’s talk about ways in which you can improve your Startup’s Project Management and keep away from future errors, if any.
1. Map out workflows in depth
As a project manager/entrepreneur, it is your responsibility to know the scope of a project, responsible team members, desired outcome and the overall project plan. Before beginning any project – Map out workflows that show how your project will progress over time. Initially, start only with processes that are underperforming or that face Business Process Bottlenecks (this stage occurs when demand outweighs the production capacity). This information will help you know how other areas of your organisation are being impacted by these processes.
TIP: Prior to mapping the workflow of a project, ask yourself questions like – ● What are the goals and objectives of the project?
● What are the goals and objectives of the project?
● What are the important aspects of your project?
● What are your desired outcomes from the project?
2. Track Project Performance and Spend Analysis
For a successful startup, it is of utmost importance to track the milestones of ongoing projects. We must keep a track of estimated delivery dates, task completion and project outcomes. It is suggested to create a milestone to achieve so that you know you are on the right track of your project journey. Several ways to achieve the project milestone are as follows:
● Track and Analyse the risks associated with the project
● Divide the project into different subdivisions of deliverables
● Estimate the rate of your progress
● Set measurable future milestones
● Highlight significant dates related to the project milestone
● Integrate Teamwork culture
Along with keeping a track of the above mentioned milestones, keep a record of your budget and spend analysis as most start-ups fail due to an ill record of cash flow and budget. Be aware of money spent on every task in the project. A good track record of project performance will help avoid the unforeseen risks that deflect the project’s budget.
3. Use Advanced Project Management Tools
Every Start-up needs a good Project Management tool that gives complete supervision over the project. In the beginning of your start-up journey, you will witness a stage when two members of a team who work well together also start arguing over what task each should have done and when. Therefore, it is vital to have an advanced and effective Project Management Software that plans and organizes your entire project from start to finish.
You can use tools such as ActiveCollab, a work management platform wherein you can communicate and collaborate with your team members, members from different teams within your organization and even clients. Such tools keep communication lines open for all and thus result in efficient collaboration.
With the help of tools like ActiveCollab you can:
● Evaluate your progress and keep a track of time
● Get a repository of required documents
● Prioritize your Project Lists and Backlogs
● Stay within the budget and get paid for the work done
● Measure the overall impact your business is making
At Diginnovators, we use ActiveCollab for overall Project Management. This platform allows us to deliver the projects ahead of deadlines and increase work productivity everyday.
4. Evaluation is the key
Whether you are a Start-up or an Enterprise, it is important to perform frequent Evaluation of your Project Management. Proper Evaluation will enhance the productivity of your Start-up and spur the entire process of your Project Management. Always seek suggestions from your team members and keep assisting them at various stages of your Project Management Life Cycle.
At Diginnovators, we use the Slack platform for effective internal business communication. Slack adopts a culture of open communication and allows everyone in the team to give more honest and direct feedback. Thus, increasing overall productivity.
You can Improve your Start-up’s Project Management using the above mentioned ways but it is unfeasible without a consistent Project Management Strategy. Our team of innovative Designers, Product Developers and Digital Marketing Experts will make the perfect Strategy and Implementation for your Start-up business.
ABOVE ALL, DO NOT FORGET TO KEEP YOURSELF UPDATED WITH THE CHANGING TRENDS IN PROJECT MANAGEMENT !