Being your own boss sounds quite interesting. Having a lot of amazing projects up and running in your business also sounds great. However, nobody talks about the anxiety that comes with the mere thought of juggling so many professional projects at once.
If the thought of juggling multiple projects could cause one to be anxious, you can then imagine the cost of actually managing multiple important projects. Experienced business owners who go through these challenges do not typically talk about them.
This situation makes one wonder if they are not talking because they are too busy managing several important projects. It could also be because of their experience or their exposure to helpful software such as PMO 365. However, if you are a relatively new business owner or one new to managing multiple projects, this article is definitely for you.
Strategies for Success at Managing Multiple Projects in Your Business
Have a detailed but flexible plan
When you have multiple projects to run, with your business name on the line and no other choice but to deliver, you cannot afford to leave anything to chance. You must plan every task with specific details and the expectations you have in terms of outcome. Your planning should be in line with your goal setting.
Running multiple projects is stressful enough, but working without a plan would make things even more stressful. Everything must be done on schedule, including rest. However, flexibility should also be allowed where necessary. Additionally, an essential component of planning is prioritising. The more important projects and projects with closer execution deadlines must come first.
Review your plan regularly and adjust where necessary
You don’t have to stick to your plan to the letter, especially when new situations arise. This is why flexibility was previously emphasised. While it may be quite a task to change the entire plan, making necessary adjustments should not be a problem if your plan is flexible enough.
Holding review meetings from time to time is a smart move, as such meetings help analyse the changes in initially unforeseen variables. After these meetings, you can update your plans for various projects.
Make use of every tool available to you.
It is okay to use every resource available to you. It doesn’t make you less of a leader or a business owner if you use some help. Project management tools can come in very handy. They can help you conduct your daily activities while tracking your team’s progress on multiple projects. With these tools, by merely clicking buttons, you can achieve a whole lot.
You can also delegate duties to your team members, using software, from anywhere in the world and at any time. Project management tools provide a convenient and effective way to go about your work.
Focus on each task you commit to
Since you have set a schedule, you need to pick each task on your schedule and stick to it to the very end. Focusing on different things at the same time would reduce your efficiency at those tasks. If you were doing this to maximise your productivity, you would realise that dividing your focus per time is counter-productive. Focus on your goal and work within the time-frame you have set for the project at hand. You would be glad you did so.
Delegate where necessary
Leadership does not imply “doing it all”. It is more about getting the job done in the best possible way. You don’t have to be the one that does all the planning and execution. Hence, you need to trust your team enough to delegate tasks. You must understand the strength and weaknesses of the members of your team and use that to advantage.
Suppose you have too much on your plate—delegate. Suppose there is a task someone on your team can do better—delegate. As a business owner, by delegating, you are giving yourself the time and opportunity to focus on more important tasks that only you might be able to do.
Project Management Office (PMO)
Speaking of teams and delegation, a project management office is vital in your business, especially when you have to run multiple projects simultaneously. This group provides essential ingredients (such as guidance and structure) to execute your projects successfully. With the right mix of capable hands, processes and the right tools, a company’s PMO is set to run.
In Summary, here are the benefits of having a PMO:
- They manage project portfolios
- They strategically plan the order of projects (according to your business goals) and then govern the process (by setting functions, policies, procedures and regulations).
- They implement the best process and practices
- They allocate and manage resources efficiently
- They design and maintain archives and toolsets for your projects.
Employ effective communication
While managing multiple projects, an important aspect of working to ensure success is communication. Let every team member be able to voice their opinions on whatever challenges the group may be facing. As a business owner, you need to ensure that you are constantly communicating with your team and open enough for the necessary feedback.
Managing multiple projects can be overwhelming, but employing the right strategies and tools makes your work easier.