The best practices refer to the project management techniques or procedures that generally deliver the best results. Not all PMO consultants will execute projects in technically correct ways for success. Not all will apply the right practices and methodologies that will be key to the success of the projects. This kind of complacency often leads to waste, poor execution and in worst case scenarios, even failure in the project execution. Project managers that apply the best practices in project implementation such as the portfolio governance services often see lots of successes.
The best practices generally refer to the most efficient ways of doing a certain task. They are often based on the procedures which are repeatable and which have been proven to work over and over again, and in over a large number of projects. Best practices are not static. They constantly evolve as new thinking emerges and replaces the old ways of doing things. There are consulting firms that have specialized in installing these kinds of best practices in an organization. With the aim to assist them in implementing projects optimally. That is, in the most efficient way and with the least amount of effort and costs.
Definition of the Project Scope as well as the Objectives
This is the first step to a successful project execution. You need to clearly understand and define the objectives or goals of the project. You also need to define the project scope or boundaries. Decide on what lies within or outside the scope of the project, as well as the amount of work that will be done within that scope. Know the stakeholders in the project and the roles which they are expected to perform.
Definition of the Project Deliverables
What are the project deliverables? Decide on the tangible things that you need to deliver and the stakeholders who will be in charge of their delivery. Get the stakeholders to perform a gateway review and agree to the deliverables.
Planning is an important part and parcel of project management. During the planning stage, the project manager must estimate the resources which will be required in order to bring the project to a conclusion. The project manager will have to define the sets of activities that will need to be implemented in order to generate the project deliverables. Planning also involves the estimation of the time and effort, which is required for every activity during the project implementation. Involving a portfolio governance service can help one to optimize the project implementation.
Effective communication is very crucial to the success of a project. Every member of the project team should be aware of their respective responsibilities. Lack of proper communication is likely to hinder the execution of the project in many ways.
Tracking and Reporting on the Progress
Tracking allows you to determine if your project is on the right track. Is the actual progress in step with the planned progress? Tracking also allows you to institute corrective measures in case your project is not going as planned. You can always make adjustments to the plans in order to ensure that they bring you as close to your objectives as possible.
Portfolio Governance Service
Project governance is also an important aspect that will ensure your project execution is properly aligned with the stated objectives. These are some of the best practices that you can incorporate if you are looking for optimal output.