Best Practices in Effective Project Management for Business Administration

An important skill a person should have while pursuing business administration is efficient project management. Whether managing a small team or overseeing a large project, knowing how to keep everything organized and running smoothly is critical for success. 

The Project Management Institute estimated that organizations waste 12 times their spending due to poor project management. That means an efficient approach saves time, money, and resources. The following are some best practices to help you become efficient in project management and thrive in a business administration career.

Set Goals and Objectives

One of the first things a person should do when managing a project is set objectives or goals. These objectives must be specific, measurable, attainable, relevant, and time-bound (SMART). When you know exactly what you want to achieve, planning and executing the project becomes more accessible.

For example, a 10% sales increase for the next quarter may be broken down into making a marketing plan or improvements in customer service. Clear objectives will keep all levels of the team working and set toward one very distinct outcome or result.

Create a Detailed Project Plan

After establishing your goals, during this phase, a detailed project design is developed that describes the overall activities related to the project, assigns responsibilities to individual team members, and sets deadlines for each task.

A well-thought-out project plan lets you track and helps ensure all parties know what needs to be done. It enables you to highlight potential problems well in advance, making necessary adjustments before they become more magnified.

Critical elements of a project plan include:

• List of tasks and subtasks.
• Assigned responsibilities.
• Deadlines and timelines.

A detailed project plan ensures efficiency and organization throughout the project. The entire team may follow the plan to keep things efficient and organized.

Communicate Regularly with your Team.

Effective communication is one of the key elements in managing a project. Regular communication means everybody is on the same page: sharing updates and quickly addressing problems. This may be through meetings, email, or project management software.

Equally important is creating an open atmosphere where team players feel comfortable asking questions or raising concerns. Again, communications must be sent to all parties concerned.

Project Management Tools

Project management in modern business involves numerous tools to help get the work done efficiently. These tools can track progress, run projects, and report on work in real time with your team. The more popular ones are Trello, Asana, and, recently, Monday.

These tools have the dual purpose of reducing tasks that slip through the cracks and making it easier to see the overall project progress. They will also easily enable task assignments, monitoring of deadlines, and observance of everybody’s contribution.

Follow Up and Adjust

Monitoring progress and making necessary adjustments would also be vital once the project begins. Frequently check in with your team regarding how things are going and where any tasks need to catch up to schedule.

You can readjust the plan if you discover that tasks are taking longer than expected or if there is an issue that could delay the project’s progress. Progress will involve adjusting dates, if necessary, or shifting responsibilities among team members. Keeping close control over the project will ensure that minor problems do not become large ones.

Conclusion

Efficiency in project management is the backbone of a successful administrative team. It’s what turns ideas into reality and keeps projects moving smoothly. With all the strategies mentioned above, project execution becomes not just efficient but a shared journey toward success.
If you are ready to take the next step in your business administration career and learn the skills needed to manage projects efficiently, visit Northwest Career College today and enroll in our Business Administration Programs. The degree will take as little as 18 months and equip you with the knowledge and confidence to succeed in your business career.