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How to Design the Best Project Plan in Less Time!

Every project has something important to say. The goals, enthusiasm, time limits, deliverables, and what not! Expressing everything in just a few pages and that too, with the pressure of approvals or rejections, is not an easy task. It requires lots of efforts to tell the right story at the right time and in the right amount. Some of them are short and sweet, and some are amazingly lengthy.  The stories can either be ‘straight to the point’ or the ‘beat around the bush,' but the beauty is that both types are fine if the crux is correct. No matter what is the length of such stories; if you want to make it popular, wanted, or approved, you have to create an outline which can cover the arc of your proposed matter.  That outline is a ‘project plan’ in the language of project management. It is the most important thing to start with, in any project. It is the process of defining objectives, scope, and the steps of completion of the project. In this article, you will get to know how you can design the best project plan in minimum time!  First of all, let’s understand where we waste our time while working on a project plan;  To make it fancy,  To write a lot of descriptions,  Not using the right project management tools,  Doing constant changes in the initial strategies,  Not following the project schedules, etc. These were the common flaws in project management.. Avoid such issues to be quick. Make a priority list, set goals, make a strategy, and stick to it. You must include situational flexibility in your schedule, but not the sudden or major changes. That activity can confuse your subordinates/ team, and it may create chaos. So, what should we do to minimize the wasting time and focus on the actual and valuable work? Read further… Best design plan in less time 1. Keep it simple As I have mentioned earlier, most of the people waste a lot of time to make a project plan fancy and descriptive. It is not required. The beauty of an effective project plan lies in its simplicity. The reason to keep it simple is that it will be easy to understand. Let’s face the fact that you will be given only a few minutes to explain your plan to the stakeholders, and during this time you have to make them interested in your project. Trust me, they have clear expectations and look only for benefits which your project will deliver. So, the project plan should be scannable. 2. Never avoid your homework Invest your time in homework. A good homework can give clarity to so many things at a time. This process will save a lot of time in future, so it is a good deal to do homework at this stage. If you want to cut the trees with minimum effort, then you have to invest some time to sharpen the axe. First, identify the stakeholders, and then define the beneficiaries, expected benefits, communication channel, skill set requirements, etc. It will make the whole process fast. 3. Choose your warriors wisely Team selection is a major step while working on the project plan. It defines work breakdown structure. It also strengthens the project. You must take it seriously as it will directly affect the output.  Choose a team which is quick, confident, and deliverable. You must know all the team members’ skill sets, as those will be useful to divide the project’s responsibility. Try to make a team of multitaskers, who can handle the given work. 4. Make a SMART strategy The strategy is as important as the research process. There are several tasks, subtasks, milestones, goals, and expectations in the project management. If there is no strategy, everything might become a mess.  As you know, SMART stands for goals which are; ●    Specific, ●    Measurable, ●    Achievable, ●    Realistic/ Result focused, and ●    Time-bound. Make a strategy which covers all these things. Strategy gives a way of thinking about everybody and defines the job roles for each team member. The strategy can also schedule the project, which makes everyone active and gives them an expected deadline so that they can work accordingly. 5. Communicate like a PRO You must have heard that communication is the key to success. How? It's because it gives clarity and avoids many misconceptions/ misunderstandings between two team members. You should also communicate with each other frequently. Inform your stakeholders about the progress, review the project, keep your team members informed, be transparent by sharing details with your team. 'Describing' leads to questions, and to find out the answers to such questions, you all must have some brainstorming session, which leads to more clarity – which will drive to the predictability. 6. Keep a track record and never abandon your expectations If you want your desired results in less time, you have to keep a track record. You should take care when a particular task is supposed to start, who is going to do it, what are the steps to follow, the further actions, when all of these will be completed, etc. Moreover, you should never abandon the expectations, (i.e., goals) which were decided at the time of strategy making. With the passing time, you and your team must know about the project risks. To keep the record of the risks, make risk charts which can display the risk factors. 7.  Be calm  This is the most efficient and important thing (and always works positively). Don’t panic under any circumstances. Hyper mind or actions may lead you and your team in some wrong direction. To avoid silly mistakes, it is fundamental to have a calm mind.  Neither rush too fast, nor go too slow. Be stable and moderate. Balance the whole journey. Take certain breaks and keep your team motivated. Be your team’s biggest support and have faith. Always remember that positive thinking and positive actions can lessen the chances of mistakes, which ultimately saves a lot of time. So, these were some simple, but not so known ideas to design the best project plan in less time. Try to implement these strategies once, and I am sure you will be able to present a perfect project plan to the stakeholders with a much more professional approach.  I hope this article will help you to make a project plan. It will surely save your time as well as extra & unwanted efforts so that you can utilize them in some other important tasks. We provide Project Management Professional training, to check out the schedule click here
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How to Design the Best Project Plan in Less Time!

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How to Design the Best Project Plan in Less Time!

Every project has something important to say. The goals, enthusiasm, time limits, deliverables, and what not! Expressing everything in just a few pages and that too, with the pressure of approvals or rejections, is not an easy task. It requires lots of efforts to tell the right story at the right time and in the right amount. Some of them are short and sweet, and some are amazingly lengthy. 

The stories can either be ‘straight to the point’ or the ‘beat around the bush,' but the beauty is that both types are fine if the crux is correct. No matter what is the length of such stories; if you want to make it popular, wanted, or approved, you have to create an outline which can cover the arc of your proposed matter. 

That outline is a ‘project plan’ in the language of project management. It is the most important thing to start with, in any project. It is the process of defining objectives, scope, and the steps of completion of the project. In this article, you will get to know how you can design the best project plan in minimum time! 

First of all, let’s understand where we waste our time while working on a project plan;

  •  To make it fancy,
  •  To write a lot of descriptions,
  •  Not using the right project management tools,
  •  Doing constant changes in the initial strategies,
  •  Not following the project schedules, etc.

These were the common flaws in project management.. Avoid such issues to be quick. Make a priority list, set goals, make a strategy, and stick to it. You must include situational flexibility in your schedule, but not the sudden or major changes. That activity can confuse your subordinates/ team, and it may create chaos.

So, what should we do to minimize the wasting time and focus on the actual and valuable work? Read further…

Best design plan in less time

1. Keep it simple

As I have mentioned earlier, most of the people waste a lot of time to make a project plan fancy and descriptive. It is not required. The beauty of an effective project plan lies in its simplicity. The reason to keep it simple is that it will be easy to understand.

Let’s face the fact that you will be given only a few minutes to explain your plan to the stakeholders, and during this time you have to make them interested in your project. Trust me, they have clear expectations and look only for benefits which your project will deliver. So, the project plan should be scannable.

2. Never avoid your homework

Invest your time in homework. A good homework can give clarity to so many things at a time. This process will save a lot of time in future, so it is a good deal to do homework at this stage.

If you want to cut the trees with minimum effort, then you have to invest some time to sharpen the axe. First, identify the stakeholders, and then define the beneficiaries, expected benefits, communication channel, skill set requirements, etc. It will make the whole process fast.

3. Choose your warriors wisely

Team selection is a major step while working on the project plan. It defines work breakdown structure. It also strengthens the project. You must take it seriously as it will directly affect the output. 

Choose a team which is quick, confident, and deliverable. You must know all the team members’ skill sets, as those will be useful to divide the project’s responsibility. Try to make a team of multitaskers, who can handle the given work.

4. Make a SMART strategy

The strategy is as important as the research process. There are several tasks, subtasks, milestones, goals, and expectations in the project management. If there is no strategy, everything might become a mess. 

As you know, SMART stands for goals which are;

●    Specific,
●    Measurable,
●    Achievable,
●    Realistic/ Result focused, and
●    Time-bound.

Make a strategy which covers all these things. Strategy gives a way of thinking about everybody and defines the job roles for each team member. The strategy can also schedule the project, which makes everyone active and gives them an expected deadline so that they can work accordingly.

5. Communicate like a PRO

You must have heard that communication is the key to success. How? It's because it gives clarity and avoids many misconceptions/ misunderstandings between two team members. You should also communicate with each other frequently.

Inform your stakeholders about the progress, review the project, keep your team members informed, be transparent by sharing details with your team. 'Describing' leads to questions, and to find out the answers to such questions, you all must have some brainstorming session, which leads to more clarity – which will drive to the predictability.

6. Keep a track record and never abandon your expectations

If you want your desired results in less time, you have to keep a track record. You should take care when a particular task is supposed to start, who is going to do it, what are the steps to follow, the further actions, when all of these will be completed, etc.

Moreover, you should never abandon the expectations, (i.e., goals) which were decided at the time of strategy making. With the passing time, you and your team must know about the project risks. To keep the record of the risks, make risk charts which can display the risk factors.

7.  Be calm 

This is the most efficient and important thing (and always works positively). Don’t panic under any circumstances. Hyper mind or actions may lead you and your team in some wrong direction. To avoid silly mistakes, it is fundamental to have a calm mind. 

Neither rush too fast, nor go too slow. Be stable and moderate. Balance the whole journey. Take certain breaks and keep your team motivated. Be your team’s biggest support and have faith. Always remember that positive thinking and positive actions can lessen the chances of mistakes, which ultimately saves a lot of time.

So, these were some simple, but not so known ideas to design the best project plan in less time. Try to implement these strategies once, and I am sure you will be able to present a perfect project plan to the stakeholders with a much more professional approach. 

I hope this article will help you to make a project plan. It will surely save your time as well as extra & unwanted efforts so that you can utilize them in some other important tasks.

We provide Project Management Professional training, to check out the schedule click here

Bhumi

Bhumi Patel

Blog Author

I am a tech freak, blogger, translator, and an aspiring writer. I write about technology trends, business strategies, internet of things, productivity, etc. I have a wide interest in inventions and innovations. Currently, I am associated with Internet Geeks as a content writer.

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Top Characteristics Of a Project Manager

Good leaders are hard to find, but great project managers are rarer stillWhat a great saying! Well, it has its own worth acknowledging that to find a reliable, and successful project manager in the current era is like finding a true pearl inside the seashell.IntroductionThe project management journey starts with initiation and ends with the closing of a project. And this raises the demand for skilled Project Managers across the globe who can use project management tools to keep all aspects of a project organised. According to Payscale, the average annual salary of a Project Manager is $72,675.Being a project manager is a specific kind of leadership position, which requires certain character traits and important qualities. If we ask you, do you have any general idea about a good project manager, a single point you can define them would be – they deliver projects within the deadline and budget set by the clients, meeting or not withstanding surpassing the desires of the partners, right?It’s not enough. Actually, it takes more to become a good and ideal project manager to whom someone could admire. In this article, we are going to highlight some striking traits and important qualities of a Good project manager which can help you become a better one or to improve yourself. Time Management techniques help you to assign correct time slots to activities as per their importance. The right allocation of time to the right task in order to make the best possible use of time refers to time management. You can also take up a PMP® training to validate your project management knowledge and skills through a certification that’s acknowledged across the globe. Top 13 Important Qualities to Become a Successful Project ManagerA good project manager needs to possess certain skills like technical, business, and management skills to manage projects with utmost efficiency. Moreover, as a responsible position, a project manager must possess certain qualities for smooth delivery of various projects. Few of the qualities that a good project manager should possess are as follows:1. They Inspire a Shared VisionAn effective project leader is often described as having a vision of where to go and the ability to articulate it. A leader or project manager is someone who lifts you up, gives you a reason for being, and gives the vision and spirit to change.The visionary project managers enable people to feel they have a real stake in the project. Moreover, they empower their teammates to experience the vision of their own and offer other the opportunity to create their own vision, to explore what the vision will mean to their jobs and their lives, as well as to envision their future as part of the vision of their organization.2. They are a Good CommunicatorAccording to Jada Pinkett Smith, a slogan of every good project manager is;“My belief is that communication is the best way to create strong relationships”Another strong trait that distinguishes a good project manager from others is their ability to communicate with people at all levels. Since, the project leadership calls for clear communication about responsibility, goals, performance, expectations, and feedback – a good project manager can be said a complete package comprising all these important qualities.The pioneer must be able to successfully arrange and utilize influence when it’s important to guarantee the accomplishment of group and venture. How it comes about gainful? Successful correspondence brings about group accomplishments by making express rules for professional success of cable car individuals.3. IntegrityOne of the most important things any project manager should always keep in their mind is, it takes their actions to set a particular modus operandi for a team, rather than their words. A good management demands commitment and demonstration of ethical practices.The leadership or project management depends on integrity represents a set of values, dedication to honesty, and consistency in behaviors with teammates. Integrity is that a good project manager takes responsibility for setting the high bar for ethical behaviors for oneself, as well as reward those who exemplify these practices. Leadership motivated by self-interest does not serve the wellbeing of a team.4. They Possess Leadership SkillsIf you want to become a successful project manager, you ought to own good leadership skills. Project managers must also deal with teams coming from various walks of life. Hence, it winds up noticeably basic for them to rouse workers and calibrate group execution to achieve organizational goals through various leadership styles.A great project manager sets the tone for the project and provides a clear vision about its objectives for the team. A feeling of foreknowledge helps also – by foreseeing potential issues, you can have your group prepared to solve them in the blink of the eye. Enthusiasm and passion are two key elements you should adopt if you want to make people follow you—nobody will do so if you’re sporting a negative attitude.5. They are Good Decision MakersGood decision making skill is not only crucial for personal life but it also very important in professional life as well. The good project managers are empowered to make countless decisions which will help define the project track.As we all know that a single minor wrong decision taken can easily jeopardize the entire project. Thus, a project manager needs to be capable of thinking quickly and reacting decisively.6. Expert in Task DelegationTask delegation is another basic skill in you which you need to be expert in. You should be able to judge your team members’ skills and assign the tasks in accordance with their strengths.Being a pioneer doesn’t imply that you have to consider each minor little detail of a venture. Show your team members you trust them and delegate tasks to them.7. They are Well OrganizedHenry Mintzberg said;“Management is, above all, a practice where art, science, and craft meet”Good organization is a key factor for creating a productive work environment as well as solving problems under pressure. Being well-organized helps to stay focused on the big picture and to prioritize your own tasks and responsibilities.With regards to exhibiting your outcomes, you ought to have the capacity to recuperate all the important information and demonstrate an intelligible vision of a venture to be executed.8. They Own ProficiencyProficiency and thorough knowledge – they both can be said basic yardsticks on the basis of which a leader’s or manager wisdom or excellence can be weighed. Being on top of your projects entails a vast amount of industry knowledge to be effective in what you do.Some learning on the money related and legitimate side of your tasks won’t hurt either. You should be seen as able and skilled by your group.9. They are Great Problem Solver!The good project managers work with a team of experts or consultants and use their mastery of handling issues in most effective ways.Nobody will anticipate that you will have a prepared answer for every single issue; you should have the capacity to utilize the knowledge of your team members and stakeholders to produce a collective response to any problems you experience on your way to delivering a project.10. They Know What is CollaborationThis is the last and the most important trait that should exist within every good project manager or leader. A grip of group progression is fundamental on the off chance that you need your group to work easily on your ventures.When building up your group, remember this: contentions and contradictions will undoubtedly happen; as a pioneer, you’ll have the capacity to intervene them and ensure all you colleagues progress in the direction of a similar objective.11. Should Possess Good Negotiation SkillsIt is important for a project manager to possess good negotiation skills. Further, this skillset plays a pivotal role to resolve the conflicts by settling the issue and maintain harmony in the team.12. Managing the Project Life CycleThere are numerous life cycle phases involved in a project. In the early years the practice of project management focused on planning and controlling the execution of projects which has now moved to including the conceptual phases and project portfolio management that provides needed linkage between strategic growth management of the organisation and project management. A project manager must be capable of linking the strategic growth management of the organisation and project management.13. Achieving the Project BenefitsThe success of a project is measured by the benefits that it delivers in terms of output. A project manager should be capable of ensuring that the team focuses on benefits delivery and not just merely completing their project on time and within budget.How do these Qualities Help to Tackle Project Constraints?Before moving forward, let us understand the constraints which a project manager should watch out for. The constraints are:Scope: It defines the needs of the customers as well as the requirements expressed and implied.Time: The customers want their projects to be delivered by an agreed date.Quality: It can be defined as the standard that a project is expected to be delivered.Resources: This denotes the amount of money, budget or resources available for spending on the project.These are not the only constraints in a project. The following are few of the important reasons for failure of the project:Lack of user involvementLong or unrealistic time scalesPoor or no requirementsScope creepNo change control systemPoor testing The suggested qualities collaboratively help a project manager to avoid all these constraints and take ahead the project smoothly. Key TakeawaysCommunication, leadership, and problem-solving skills play a crucial role for an individual to become a good project manager. Moreover, he or she should be a good decision maker for smooth maneuvering of the project journey. Apart from these qualities, you should possess the following attributes in order to be a good project manager:IntegrityEnthusiasmEmpathyCompetenceAbility to delegate tasksStay cool under pressureTeam-building skillsProblem-solving skills.Demand for Project Managers Across the GlobeAccording to the PMI and Anderson Economic Group (AEG) analysis that analyses project-oriented employment opportunity in 11 countries on five continents representing developed or growing economic powers. Project-Related job growth is expected to be 33% collectively. The following chart explains it elaborately:CountriesProject Management Jobs in 2017Expected Project Management Jobs in 2027China34.9 million46 millionIndia14.7 million21.7 millionUnited States6.7 million8.8 millionJapan3.4 million3.8 millionBrazil1.9 million2.4 millionGermany1.9 million2 millionUnited Kingdom1.0 million1.2 millionCanada690,184779,828Australia474,495574,399Saudi Arabia201,127228,077UAE73,35293,861On a concluding noteThere are certain attributes and characteristics that a project manager should possess while deploying various project management tools to keep all aspects of their projects organised. These characteristics make a project manager efficient to approach each project as its own unique entity. Further, with the rising demand for the project managers across the globe, the above-mentioned qualities will surely help you to gain your grip in the fast-paced market scenario. Wish you all the luck for your project management journey!
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How Important Is Project Monitoring And How Do We Implement It Through AI?

Project Monitoring plays a vital part in project management as well as the project manager’s decision making processes. However, it is a method often overlooked and only done for the sake of fulfilling the requirements of a project management plan. But if put into practice, project monitoring can help project managers and their teams foresee potential risks and obstacles that if left unaddressed, could derail the project. It clarifies the objectives of the project, links the activities to the objectives, sets the target, reports the progress to the management and keeps the management aware of the problems which crop up during the implementation of the project. It supports and motivates the management to complete the project within the budget and on time.   What is Project Monitoring? Project Monitoring refers to the process of keeping track of all project-related metrics including team performance and task duration, identifying potential problems and taking corrective actions necessary to ensure that the project is within scope, on budget and meets the specified deadlines.  To simply put, project monitoring is overseeing all tasks and keeping an eye on project activities to make sure you’re implementing the project as planned. The process of project monitoring begins during the planning phase of the project. During this phase, it is important to define how the project success will look like and how the goals can be measured using KPIs (Key performance indicators). Why is Project Monitoring important? When project managers make important decisions without verified data, it is like taking a stab in the dark. Your decisions will be based on very little to no evidence, so the action may not be very efficient and could only be a waste of time and resources.  Getting a PMP certification will help you grow and become a successful, object-oriented Project Manager.   That’s why it is important to monitor projects diligently and use the data you gathered to come up with intelligent decisions. Here are some questions answered through project monitoring: Are tasks being carried out as planned? Are there any unforeseen consequences that arise as a result of these tasks? How is your team performing at a given period of time? What are the elements of the project that needs changing? What is the impact of these changes? Will these actions lead you to your expected results? Automated tools and technologies can simplify the tedious process of project monitoring. Most project managers have already adopted project management tools to delegate tasks and monitor their projects. However, project monitoring is a complex process and there are only a few project management apps out there that can support the project manager’s requirement to have laser-focus on individual tasks and team efficiency. Types of Project Monitoring: Project Monitoring can be attained via: Staff Meetings, which can be conducted on a Weekly, Monthly or an Annual basis. Partners meeting, Learning forums (FGD, Surveys) or Retreats. Participatory reviews by the stakeholders Monitoring and Supervision Missions that can be Self, Donor or Joint. Statistics or Progress reports How to implement Project Monitoring and Control in projects? The following are the steps to implement Project Monitoring and Control (PMC) in projects: Monitor the parameter of project planning: It requires the monitoring of project parameters like effort, costing, schedule, timeline, etc. It is the responsibility of a Project Manager to track such metrics while working on a project. Monitor Commitments: Being a Project Manager, you will have to keep track of the commitments of different stakeholders in the project. The stakeholders can include anyone: the team members, management, peers, vendors as well as clients. Monitor the Project Risks: It is important to keep a track of all the risks that might be involved with the project. There are various types of risks that can be involved in a project, including process, people, technology, tools, etc. Data Management monitoring: Keeping track of all of the configuration items, which includes software, hardware as well as documentation of the project. Monitoring the Stakeholder involvement: As a Project Manager, it is important that you keep track of how all the stakeholders are involved in the project. This can be done through different types of meetings, status reports, etc.  Manage Progress Reviews: Conduct and manage the project progress reviews with the help of different techniques which includes the work progress of team members, client meetings, milestones reviews, etc. Based on these activities, various status reports are created, which are shared with the stakeholders as well. Manage actions to closure: Based on the progress of the project, it is important to take corrective actions to get control over the progress of the project plan.  These corrective actions are then tracked by the Project Managers till the project closure or until the progress is under control. Why Project monitoring? Project monitoring aids various purposes. It brings out the problems which occur or which might occur during the implementation of the project and which demands solutions for smoother progress in the project. Effective monitoring helps in knowing if the intended results are being achieved as planned, what actions are needed to achieve the intended results during the project execution, and whether these initiatives are creating a positive impact towards the project execution. To assess the project results: To know how the objectives are being met and the desired changes are being met. To improve process planning: It helps in adapting to better contextual and risk factors which affect the research process, like social and power dynamics. To promote learning: It will help you learn how various approaches to participation influences the outcomes. To understand stakeholder’s perspectives: Through direct participation in the process of monitoring and evaluation, learn about the people who are involved in the research project. Understand their values and views, as well as design methods to resolve conflicting views and interests. To ensure accountability: To assess if the project has been effectively, appropriately and efficiently executed, so that they can be held accountable. 3 Ways to Track and Re-Plan a Project It is said that projects never go according to what we have planned. Hence, one must be ready to make any amendments as needed. You can also opt for the following three-step approach: Check and understand the progress of the project: Before starting to re-plan your project, you should be sure of the current state and status of the work. Setting up a meeting for the whole team together to get to know about the updates of the current work, upcoming tasks and issues will be beneficial. Also, recognize the important milestones in this meeting. Search for and Manage Exceptions: Stay on a look-out for exceptions like risks, issues and change requests. Open issues will have to be resolved so that roadblocks can be removed, and a risk mitigation plan will have to be developed. Re-plan the project: You have an idea of how to re-plan the project. The following steps will help you do so: Keep the important project documents updated, which includes the project charter. Share the new plan with the shareholders. As per the demand, re-assign the work. Communicate with the team members regarding the new assignments and send automated reminders to them. As required, make changes on the project site with the updates reports and dashboards. Project Monitoring with KnightSpear’s AI Work Coach Isabella KnightSpear has a practical way of helping project managers to monitor their projects and team’s performance. With the help of Isabella, KnightSpear’s AI work coach with machine learning capability, the information you need for project monitoring is handed over to you so you can spend less time gathering and interpreting data and more time taking action instead. Isabella, the KnightSpear’s AI-enabled chat-box work coach, can process data within the app. Accordingly, they respond to the project managers with reports and suggestions on how they can manage tasks and keep his/her team engaged. Here are some ways by which Isabella helps you with project monitoring. Real-time monitoring of team performance With automated task monitoring, Isabella can monitor how everything is going, including what the team is working on, which team members are stuck on a task or what other tasks need to be done to move forward with the project. Regular status and progress reports Isabella provides the duration summary of a task. It displays the amount of time the assignee has spent on a task and predicts how much more is needed to complete the entire project so you can identify existing issues and make timely adjustments to get things back on track. Providing recommendations and suggestions Isabella can estimate the percentage of project success or failure. She can also predict the probability of tasks going overdue or missing its deadline and provide valuable advice on how you can get the team to work together to prevent this from happening. Ensuring that recommended actions are implemented It’s important that the team is clear if there are any changes to the project plan. Isabella can remind the team of any over dues, hanging tasks and issues that need quick resolution so you can drive your team to the direction you are planning to take. In conclusion, project monitoring is important in making the project management plan work to meet your project objectives. It is a part of the project and project management, not an addition to it. Given the data about the team, the project and the prediction of overdue, project managers can customize the project plan and address issues before they happen. With project monitoring, you can identify the most efficient way to manage your resources and continually assess your project status, so you can ensure your project success.
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Is PMTQ the new buzzword in the Project Management world?

With an increasing number of technologies and effective tools for project management, the number of projects has skyrocketed in the past few years. Businesses are heavily investing in projects and related resources to increase revenue generation. According to Capterra, on average, businesses are spending anywhere between $1,000 to $10,000 annually (2020), on project management software. However, data from the PMI indicates that almost 12 percent of these business investments were wasted in 2019, owing to poor performance. Reports dating way back from the previous year also indicate that this number has barely budged over the past five years.The fundamental problem of this business loss is rooted in the gradual shift in the way of work that we are presently witnessing. While project management tools are getting iterated almost daily, the project professionals aren’t suitably geared to leverage this new technology. Additionally, only a fraction of business leaders are interested in investing in training and reskilling employees.With this, businesses are at the risk of creating digitally unsustainable environments. In a survey by PwC, 85 percent of respondents commented that artificial intelligence (AI) alone will significantly change the way they do business in the next five years. Close to two-thirds of global CEOs see AI as a bigger disruptor than the internet!  In order to build a capacity to adapt to the constant changes that advancing technologies are bringing, businesses are looking to build/hire professionals with high PMTQ (Project Management Technology Quotient).What is PMTQ?PMTQ (or Technology Quotient) is an agile concept of being able to adapt, manage, and integrate technology on the go, based on business/project needs. The PMI identifies three characteristics that define high PMTQ:1. Always-on curiosity:Looks for new project delivery approaches, new ideas, perspectives, and technologies.Open-minded, but with a skeptic’s approach. Has the ability to integrate the appropriate project delivery practices without chasing after every new digital trend.2. All-inclusive leadership:Leadership shift from people-management to tech-management i.e, assigning the right task to the right people – including robots! This leads to the effective management of newer technologies based on the team’s capabilities.  An advocate of technology3. A future-proof talent poolRecruiting and retaining the right project professionals, with skills most-needed for the digital era. These professionals are not just passionate about new trends and technologies but have the capabilities to adapt and keep up with constant rearrangement of ideas.The leader should be willing to accept that these cutting-edge technologies can be short-lived. They should adapt to these changes on par with tech growth, which is essential for business growth.The rapid growth of technologies creates a new scope for project professionals and businesses. The future of work is demanding businesses to build the flexibility to accommodate broad and varying skills, capabilities, and different project delivery approaches to get the work done. Even the approach to the work has shifted from “job for life” to “portfolio of projects”, for both individuals and businesses. Project managers today are no longer handling the same static responsibilities throughout their career, transitioning the nature of work to multifaceted projects that require new technologies to succeed. Factoring in the new changes, there is an immense demand for individuals and businesses to embrace PMTQ.Cultivating PMTQAs PMI points out, “The real opportunity lies in project leaders/businesses beginning the hard work of developing a PMTQ mindset throughout their organization.” A study has already found the positive effect of cultivating PMTQ within employees. PMTQ innovators were found to waste lesser investment (8.5%) compared to laggards at 16.3%, and also reduce scope creep in projects. Certifications like PMP® and PRINCE 2® further leverage individuals and teams to be digitally enabled.A truly digitally sustainable environment is created when ready-for-anything teams are cultivated, fuelled by the knowledge of their technology, as well as their project management which is exactly the intent of high PMTQ.
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Is PMTQ the new buzzword in the Project Management...

With an increasing number of technologies and effe... Read More

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