Achieve success with effective project planning
What do companies that work on a project basis have in common? That’s right, an often jam-packed and stressful daily routine. Ongoing projects with pressing deadlines, demanding pitches for new clients, and unforeseen change requests during project submissions, alongside internal tasks such as accounting and personnel management—the task list for agencies, consultancies, and all other companies involved in project-based work often seems endless. For this very reason, it is important to pursue stringent project management, including a well-thought-out project plan. In this blog post, we will show you how to design project planning in an ideal way and share tips and tricks that lead to project success.
What does project business actually mean?
Basically, the project business describes itself completed package of services. Examples include the creation of a new website, the implementation of a marketing campaign or even the (interior) construction of a house. In contrast to product business or standard business, the start and end points of the project can be far apart. That's what she does planning and Very complex control, which is why it is important for companies in project business to internally right infrastructure to create. The success of projects depends on the right planning.
What is project planning?
Project planning is a an integral part of project management, because it forms the basis for efficient project management, smooth implementation and, ultimately, corporate success. Project planning includes the clear attribution of responsibilities, the definition of Objectives and Milestones as well as a time planning for the entire project. The goals should be formulated ambitiously, but also be realistic in order to properly manage customer and team expectations. Since even the most precise project planning does not protect against external disruptive factors, such as late deliveries or sick absences, planning should always provide room for flexible adjustments.
What does project-based work actually mean?
Fundamentally, project-based work refers to a completed package of services. Examples of this can include creating a new website, running a marketing campaign, or the (interior) construction of a house. Unlike product-based work or standard business operations, the start and end points of a project can be far apart. This makes planning and control very complex, which is why it is important for companies involved in project-based work to create the right infrastructure internally. The success of projects rises and falls with proper planning.
What is meant by project planning?
Project planning is an integral part of project management as it forms the foundation for efficient project control, smooth implementation, and ultimately, business success. Project planning includes the clear assignment of responsibilities, the definition of goals and milestones, as well as a timeline for the entire project. The goals should be ambitious yet realistic to properly manage expectations from clients and within the team. Since even the most precise project planning cannot protect against external factors, such as delayed deliveries or sickness-related absences, the plan should always allow room for flexible adjustments.
When is project planning carried out?
Project planning should begin before the start of the project and is only completed at the same time as the project’s conclusion. It accompanies the entire project and must be regularly reviewed and adjusted over time. The level of detail in the planning also changes over time and becomes increasingly refined.
Project planning is often given too little attention, and projects are launched prematurely. However, the principle holds true: more effort in the early planning phase saves time, nerves, and money later in the project.
What does project planning involve?
The project plan covers every aspect of a project and is carried out in subprocesses. The plan establishes the project structure, costs, the team, the timeline and deadlines, as well as the project organisation.
The components of project planning include:
- Project structure plan with the division of the entire project into individual packages, setting milestones
- Effort estimation, including defining the required working hours and the service period
- Process planning and schedule planning, including setting a logical sequence for subproject timeframes
- Resource planning, with demand assessment for personnel, team allocation, and estimation of the necessary materials and resources
- Cost planning based on the required resources and project duration
- Project organisation, including the allocation of responsibilities and roles
Why is project planning important?
As already mentioned, good project planning significantly contributes to project success. It supports the achievement of project goals with regard to costs, resources, and scheduling. Diligent monitoring of the plan enables early detection of risks and potential errors, allowing for swift responses and corresponding adjustments to the plan. Clearly defining responsibilities and expectations within project planning also facilitates communication within the team.
Problems and challenges in project planning
Project planning not only has a significant impact on success but naturally also affects the failure of a project. The top 3 reasons for project failure can be attributed to planning: insufficient preparation (39%), inadequate effort estimation (28%), and incorrect cost planning (26%) (Source: Project Management Institute (PMI)).
Tips for successful project planning
How efficient project planning is structured naturally depends on the size of the company and the type of business, but the following tips apply regardless of size and type:
- Set clear goals: Defining goals is the foundation for the entire project plan, as only when the goal is clear can you move in the right direction. Goals should be developed based on the SMART method and formulated specifically, measurably, acceptably, realistically, and scheduled in a timely manner.
- Promote open communication: With recurring meetings (daily, weekly, or monthly) and regular updates, it is ensured that team members are on the same page and that project development is always transparently traceable.
- Strengthen team spirit: A strong sense of “we” within a project boosts motivation and productivity. Every team member should therefore be made to feel that they are making an important contribution to the project's success. Team events or shared lunches can be used to show appreciation for employees.
- Plan realistically: Nothing is more demotivating in a project than being behind schedule from the start and constantly under time pressure. Therefore, the timeline and effort estimation should be created realistically, and time should be allocated for corrections, sick leave, and unexpected problems, such as long delivery times. For the most realistic planning possible, it helps to divide the project into small packages and set milestones, as well as involve the responsible person in the planning.
- Planning and control: Project planning and control should go hand in hand from the start. By comparing actual and planned progress, project control helps identify possible deviations in the project course, which must then be considered in the planning.
- Use tools and software: The right tools not only prevent the dreaded paperwork chaos but also simplify (digital) collaboration among team members through central access to documents. The right project management software can help keep track of timelines and costs.
The project planning template from Tidely
Tidely's project planning template helps you create project budgets with the help of comprehensive planning templates. Simply create milestones and abstract your project with a focus on financial development. With scenario planning, you can anticipate the development of your project and, if necessary, counteract liquidity bottlenecks early on. Let Tidely support you with controlling your project.
Find out more about the possibilities for your project management with Tidely: www.tidely.com.
