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“Time is money,” nowhere is this adage truer than in project management, which implies managing, scheduling, assigning, and controlling core activities for efficient project delivery. Project time management, which this blog is about, also involves analyzing project activities, developing a timeline, and setting deadlines for individual tasks and project (s).
Benefits of Project Time Management
● Optimizes project activities: Project time management breaks down activities into small manageable tasks, ensuring you are always working at peak efficiency
● Improves deadline compliance: Developing a schedule will help you manage time better and avoid piling up work. This is what counts.
● Increases team efficiency and communication: Pre-knowledge of the tasks will make your team members more productive and efficient while reducing conflict.
● Reduce project costs: A well-planned project will take less from the organization’s treasury and save money and resources.
● Balance: Developing a timeline will help automate the project management process and avoid the need for continuous monitoring.
● Increase certainty: Stakeholders expect certainty and consistency in the quality of work. A plan that delineates how time will be distributed among project activities is reassuring.
Steps of Project Time Management
There is no defined process for implementing a project time management strategy, but the seven steps below work:
1. Find the right tool: Strategy implementation requires choosing the correct tool and knowing all its pros and cons.
Note: Read the blog till the end to know more.
Data visualization tools serve an important purpose for project managers. One such basic but highly useful tool is the chart. Explore various charts and their uses in the project management process and download customizable templates from this guide.
2. Define and analyze activities: Divide the project into smaller chunks of activities. Understand their importance in project completion and prioritize.
3. Sequencing activities: Akin to the storytelling process; learn to draw a relation between two consecutive project activities.
You can visit this link for more details and pre-designed templates for sequencing activities.
4. Estimate Resources: Get an estimate of the resources required to the greatest possible degree of accuracy.
5. Estimating duration: In this phase, you need to Estimate the time (ETA) taken by each activity and the whole project. A well-known technique for this is the Program Evaluation Review Technique (PERT).
6. Creating Project Schedule: A project schedule encapsulates project activities in detail, duration, start and finish dates, previous/next activity, and naming the person responsible.
Like Project schedules, project reports are also an inseparable part of project management. Creating project reports is a daunting and time-consuming task. Here are easy-to-edit project report templates for download to help you create a comprehensive project report.
7. Schedule Monitoring: It is the most critical step in project time management. After developing the schedule, project managers need to update the schedule with regularity. Controlling and monitoring this schedule helps develop a strategy to mitigate risks and make real-time changes.
Project Time Management Templates
We cannot offer a time machine to help you control project time, but we can offer our pre-designed project time management presentation templates and decks. These PPT Decks and slides will save you the tedium and effort of developing a project schedule from scratch. You can, thus, concentrate on your presentation and make an impact with your words and physical presence. Our comprehensive templates also give you the chance to pepper your speech with impactful insights.
Explore these plug-and-play designs, and do not miss the climax!
1. Project Time Management PowerPoint Presentation
Trusting time is just not done when it comes to project management; it flies faster than a supersonic jet. This project time management presentation template helps you showcase your exceptional record of achieving deadlines. Get this PPT Template now!
2. Implementing Project Time Management Strategies Presentation
Professional designers of SlideTeam curate this customizable project time management and strategy implementation presentation template. The indices offered in this slide are key issues, staying clear of mistakes/reasons that lead to project failure, and parameters to measure project progress over time. Download this editable PPT Deck now.
3. Project Management Time Impact Analysis Presentation
Use this professional and ready-made project management time impact analysis PowerPoint preset to emphasize the fundamentals of project management phases. Once you exhibit a clear understanding of this, there is a near certainty that your project being executed on time.
4. Sequencing Activities For Better Project Time Management Presentation
Sequencing activities are essential to project time management as it helps understand each activity’s importance in the project cycle and helps in arriving at a date of completion. This PowerPoint Presentation covers techniques like the Eisenhower matrix and Kanban time management technique. Get it now!
5. Task Scheduling For Project Time Management PowerPoint Presentation
Task scheduling is the first step in the project time management process that this presentation template helps you, master. The scope statement, project charter, task dependencies, work breakdown structure, and competency matrix are discussed in this PPT design. Download it now!
6. Time Management Strategy PowerPoint Presentation
Efficiency, budget, use of resources, and the lowest possible completion time are the variables that impact project success. Use this presentation template to develop a strategy and deliver a project. With checklists for selecting a time-tracking tool, project testing schedule, communication plan, and risk mitigation strategies, this template is indispensable. Download now!
7. Resource Estimation & Allocation Template With Project Schedule
Estimating and allocating required resources for the successful completion of the project is part of creating a project schedule. Incorporate this PPT layout to develop a project schedule with the allocation of resources like workforce, budget, and tools to a responsible person.
8. Project Time Management Chart With Task Details Template
Gantt charts are popular project management tools to display activities against time. Our designers have developed this project time management template to help project managers handle tasks. Get access to this Gantt chart theme-based PPT Layout today!
9. Five-Year Project Time Management Chart Template
This pre-designed five-year project time management roadmap helps you track and present progress. Use this PowerPoint Design to showcase how activities relate to each other. This Gantt chart theme-based PPT Layout uses color coding to provide a structured outline of the process flow. Grab it today!
10. Mind Map Template For Project Time Management
This template showcases your excellent strategic planning skills and presents a mind map for project time management strategy. Deploy this PPT Template to help your team visualize the project time management process and understand each step. Get it now!
Project Time Management Bonus Templates
That’s not it. We have something more for you!
1. Template For Importance of Project Time Management
Before doing a thing, it is necessary to know why. It is the only way to ensure your success. As a leader, it’s your responsibility to help your team understand the reason for project time management. This PowerPoint layout helps you do that.
2. 3-Steps to Reduce Project Lead Time Template
Lead time refers to the advance time in carrying out a project activity. Project lead and lag time is a concept of the Kanban Workflow technique. Use this pre-designed template to illustrate the best practices for project time management.
3. Project Management Timeline Roadmap Template
This project management sample template can add value to your presentation, with each phase or activity exhibited as a milestone. This presentation template allows you to share details of these phases as well.
The Climax: Project Time Management Best Practices
Developing a project time management schedule seems frightening. To make your task easier, we have drawn up these tips and techniques, curated from world-class research papers and personal experience, to master the art of project time management. Read on!
1. Pareto (80/20 rule) principle: This is a quality control principle that, however, applies to all processes. It suggests that 20% of your task/efforts (high-value tasks) provide you with 80% of results. In project time management, this means you will obtain 80% of results within 20% of the project time. Hence, identify, prioritize and complete the high-value tasks first.
2. Find Simpler ways: The easiest way to do a thing is the simplest way, but it is also the hardest one to find. Analyze the process of attempting an activity and choose the simplest one.
3. Review: Keep a check on your task completion and lead/lag time. It will allow you to make adjustments to your project schedule, and meeting deadlines will be a breeze. Tracking resource allocation and expenditure during each project phase is also critical.
4. Think less, act more: Planning is necessary, but do not develop an action phobia. Nearly 7 of every ten projects breach deadlines due to overthinking or overplanning, with little action on the ground.
5. Research and support: Never stop searching for better solutions. Ask for support from your seniors when needed.
6. Set SMART goals: We all know SMART stands for Specific, Measurable, Achievable, Realistic, and Timely. Motivate your team to meet daily targets, which in turn helps in meeting the weekly targets and so on. Have room for breaks.
7. Right planning tools: Your project time management strategy should be strong yet agile. You might need to change it on a regular basis. Project time management software can help, but the chances of error, complexity, and cost (purchase and maintenance) are way higher than the return. Therefore, we suggest our pre-designed project time management presentation templates that meet all your project needs. Professional designers curate these hypnotic designs after deep industry research and a well-thought-out process to help project managers handle regular time management tasks. Download these easy-to-edit PPT Slides and prepare your project schedule and timeline in minutes.
FAQs on Project Time Management
1. What are the key elements of project time management?
The processes needed to be followed for world-class project time management are:
1. Zeroing in on a suitable method.
2. Defining, analyzing, and planning project activities.
3. Sequencing activities and finding how these are linked. Example: Ad scheduling and newsflow in the newspaper business.
4. Estimating resources and listing project requirements.
5. Arriving at a deadline for successful completion.
6. Detailed breakdown of every facet; the GOD is in the detail.
7. Monitoring the schedule and tweaking it as required.
2. What are the four project time management techniques?
Project managers find these four techniques the most useful:
1. The Pareto principle (The 80/20 rule).
2. The PERT Program Evaluation and Review Technique.
3. Kanban (Lean) Workflow Management (Just-in-time manufacturing).
4. Eisenhower Matrix (The Urgent-important Matrix.
In each of these, be sure to master the basics and then apply them to the specific scenario you are facing. These will work and give you the results. The blog text has the specifics.
3. What are the three principles of time management?
You can make yourself more productive and efficient with the implementation of the 3P-s’ principle of time management. It translates into Planning, Prioritizing, and Performing. Each of these is a scientific process that requires study, deep observation, and experience. For example, as an oil and gas exploration company, you could plan on entering a particular country. Then, you need to prioritize steps to actualize this, such as a feasibility report, a detailed project report, etc. (the business angle). Meeting the leadership of that country is also to be considered.
The million-dollar question is, what will you execute first? The business plan or the meeting with the leadership? IT DEPENDS and will change from business to business, but this is the level of complexity that the 3Ps help sorts out.
4. What is the importance of project time management?
Project time management impacts the quality, budget, scope, and delivery of work. Excellent project time management helps complete the project in an efficient and resource-saving manner. Without any knowledge of this critical project management domain/process, an administrator will not be able to schedule and deliver the project on time and achieve client satisfaction.
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