Edition #1: The 8 Principles of Project Management

A primer on some basic principles of project management

The inaugural edition

In this first edition of the ‘Project Management Simplified’ newsletter, let’s take a cursory glance at 8 fundamental principles of project management.
These have been hand-picked, and are hence not all-encompassing. Keep in mind they are sector agnostic and hold good regardless of the size of the project or organization.

Before we get into the principles, let’s first understand a bit about what a project means.

What is a project? The formal definition of a ‘Project', according to the PMBOK guide (PMI) is “a temporary endeavor undertaken to create a unique product, service or result.”

It’s temporary in nature, as a project has a definitive beginning and end, and where the scope and resources too, are defined.  A project is unique, in that it is not a routine, but a specific set of operations designed to accomplish a singular goal.

Examples of projects:
1. Building a subway station, a monument, a highway across 2 cities, or a new website
2. Conducting a musical event, a wedding, or a blood donation drive
3. Planning a vacation, a study plan for a competitive exam, or a certification like PMP
4. Merger of organizations, identifying gaps and improving the processes in a department
5. Constructing the Taj Mahal (if ever one decides to build another! :) )

Examples of what’s NOT a project:
1. Planing for your weekly groceries, running daily operations in a company
2. Marketing and sales calls, IT maintenance work
3. Commuting to work, making your bed or breakfast every day

Notice the pattern? Tasks that are repetitive and routine are NOT projects. Those that are a ‘one-time effort’ and that result in a ‘specific’ outcome qualify as projects.

What are the 8 project management principles?

8 principles of project management

1. Embibe the values and vision of the organization
   The values, mission and vision of an organization define its ‘personality’. Only if the values are embedded in the company’s DNA and work culture, will it organically reflect in all actions and thus outcomes. Assignments should roll up to the long-term goals and overall vision of the organization, this ensures all the wheels of a project are aligned and efficiently rolling in the same direction.
   

2. Set clear project goals
   Expectation setting is crucial. Ensure goals are approached in a SMART (Specific, Measurable, Achievable, Relevant, and Time-bound) way.
   

3. Identify team, define roles and responsibilities
   Horses for courses! Putting together the right team for the job prevents failures downstream. Spelling out the roles and responsibilities of each team member brings clarity and avoids inadequate or redundancy of efforts. Highlight the importance of accountability. Remember, the individual parts together, make up the whole!
   

4. Spell out processes and workflows
   Don’t be person dependent! Where-ever there is repetition, automate and define workflows. Document steps where required as it helps with transition and onboarding. Have a ‘growth mindset’, and focus on continuous improvement of processes. Capture lessons learned and iron out kinks iteratively.
   

5. Metrics, KPIs (Key Performance Index)
   Metrics help to quantify individual and team efforts. Identify them, however minimal or basic. Helps with performance assessment and reporting both across and upwards.
   

6. Effective communication & stakeholder management
   Establish effective communication channels and mechanisms to ensure information flows smoothly within the project team and with stakeholders. All key stakeholders should be engaged, and expectations managed. Maintaining transparency and integrity is critical to building trust. Approaching negotiations with a ‘win-win’ mindset brings value while ensuring long-term confidence in stakeholders.
   

7. Risk management
   Identify, assess, and proactively manage risks. Mitigate (proactive; to prevent) and have contingency (reactive, backup) plans. Embrace adaptability and resilience, as one can never be fully prepared for any eventuality!
   

8. Track scope, cost, and time; Maintain quality
   Monitoring it throughout the project is essential. If changes are required, ensure it is approved by all the key stakeholders. Focus on ‘value’.

What’s your opinion?

The odds and ends corner

This is the last section of the newsletter where I will share visuals or information that others have put out there, which would be beneficial to share with the larger audience. Visuals are just great to convey quickly and succinctly, aren’t they?

Image source:

Pen and Podcast
I also write and do podcasts occasionally. Some recent ones
- Blog: Sports in India - The great leveller
- Podcast: Women and India’s sports policy: https://lnkd.in/gmaM7Snt