Why Dynamic Project Management?
Manufacturing and technology teams are continually being asked to do more work with either the same or fewer resources. From creating and integrating new business applications and helping the company make more data-informed decisions, to enabling new revenue streams, teams are being stretched to the limit. They often have to take on these challenges while dealing with a skills gap, resource limitations and budget constraints. Sadly, that’s not all.
As teams scramble to meet these high expectations, competitive pressures, business priorities, and economic trends, demands keep changing at an ever-increasing pace. And unfortunately, legacy project management systems have failed to keep pace with this dynamic nature of work.
The philosophy behind Dynamic Project Management is that projects are living, evolving constructs. This philosophy helps teams plan and schedule projects that map to the real world. Adopting the dynamic project management system helps teams work on the right priorities at the right time. This approach drives increased productivity, engagement and quality of work. It also helps teams see and mitigate risks much earlier than they would with a legacy project management tool.
The High Cost of the Status Quo
The crux of the matter is that legacy project management tools struggle to deal with uncertainty, unknowns, and unforeseen circumstances. In other words, reality. As a result, project plans are often built on guesstimates and best case scenarios without incorporating mechanisms for adjusting these estimates based on reality.
If project plans are not updated based on priorities, scope and availability, they are effectively dead on arrival—snapshots consigned to storage shelves as soon as they’re done. Consequently, teams resort to the siloes of spreadsheets and email. But that only serves to exacerbate an already acute situation. The consequences of using ineffective project management systems include:
- Trouble managing stakeholder expectations
- Lack of visibility into team schedule and work
- Missed deadlines
- No single source of truth
- Not adapting to change
Do any of these seem familiar? These consequences can result in lost credibility and more. Use our Cost Calculator to understand how much money you’re leaving on the table with your legacy processes.
How Dynamic Project Management Works
Dynamic Project Management is built on the following 7 principles:
- The schedule accounts for uncertainty. Projects and tasks are estimated in ranges based on best case/worst case scenarios, generating predictive finish dates.
- Risks present themselves early. Predictive schedules let teams see changes coming down the pike so they can respond proactively.
- Schedules are reliable, realistic and sustainable. They are based on team members’ availability, with resource capacity factored in, so work hours are reasonable and people stay engaged throughout the project.
- The plan is always in real time. The schedule updates automatically each time a contributing team members makes a change.
- Priorities are clear. Task priorities drive the schedule, and they’re easy to change, so everyone knows they’re always working on the most important tasks. Your organizational priorities are built into schedules.
- Teams collaborate in a common platform. This gives projects a transparent quality and provides individuals with easy access to the information they need.
- Instant project insight. Project information and data are easy to access. This means you have your finger on the pulse of your project portfolio; can update stakeholders as needed, and will know where the project stands every step of the way.
If you think Dynamic Project Management would be a good fit for your team, we can help you find out. Take a free Project Management Health Check Quiz to see how your current project management process is hurting your success. By answering just nine questions, you’ll receive a customized diagnosis on how Dynamic Project Management can help you manage projects and deliver work that makes a difference!