Many aspects of running a business can be can be thought of as running a series of projects.

No matter how large or small a project, it is important to understand:

• the scope – consider what the project entails, what is in and what is out;
• critical success factors – consider what is critical for ensuring the project is carried out successfully, what dependencies there are, who needs to be involved; and
• benefits – consider the outcomes of the project and how those will positively impact the business.

Key aspects that need to be managed include:

time – how long will be project take, when will key tasks will be carried out?

cost – put together a detailed budget. This needs to be tracked on a regular basis.

quality – ensure proper execution of the project and that tasks are being carried out correctly.

resources – who is needed when and for how long.

procurement – do 3^rd party suppliers need to be involved? what purchases might need to be made?

communications – what needs to be communicated how often and to whom.

project integration – ensuring alignment with the rest of the organisation.

risk – what is the risk management plan around the project (for large projects) or what risks the project might have.

A project schedule should be developed, along with a detailed budget, and tracked on a regular basis. The project schedule should include key milestones, timeframes, and dependencies. When developing a project schedule, constraints and assumptions should also be documented.

Key strategic projects should be captured in the company’s business strategy or may be part of a business plan.