Project management best practices that you should follow

Introduction

Behind every successful project execution are well-coordinated efforts that contribute to achieving desired objectives. From meticulous planning and efficient management to strategic prioritization and flawless execution, the entire process runs on seamless collaboration.

But let’s be real- even with the best efforts of you and your team, challenges such as missed deadlines, budget overruns, scope creep, communication breakdowns, or unexpected, uncontrollable external disruptions can creep in, derailing even the most carefully crafted plans.

That said, navigating these challenges is entirely possible with the proper strategies. Trust me when I say this because I’ve seen how applying these approaches has completely turned things around for our projects. Additionally, it has also helped us tap into our team’s full potential, driving success – time and again.

By adopting tried-and-true project management best practices, you can tackle any hurdles head-on and move projects closer to success with every step forward.

To all the project managers struggling with complex challenges or looking to elevate their projects to the next level, here are 7 effective strategies that have worked wonders for us. I am sure they’ll help you keep your projects on track and deliver exceptional results consistently.

Let’s dig in.

What are project management best practices?

Project management best practices are established methods, techniques, or processes that bring the best out of the standard project methodologies and frameworks.

Northern Illinois University describes it as,

“In project management, best practice is a general term that includes:

• Guidelines

• International standards

Both standards and guidelines look to improve project management. Guidelines in project management are methods that can contribute to goal achievement when dealing with projects, whereas standards are expected to be objective, definitive, and robust. Guidelines issued by professional bodies are open to interpretation, but standards issued by specialized organizations are usually based on best practices and guidelines given by professional bodies.”

These act like a framework to guide and improve your project processes for better outcomes.

Why should you follow the best practices in project management?

According to the 8th global project management survey performed by PMI on The High Cost of Low Performance, the projects of organizations that implement project management practices are 2.5 times more likely to succeed than those that don’t.

Here are several reasons you should apply best practices in project management for greater efficiency and success.

• Streamlined workflows: Best practices establish clear processes, eliminate inefficiencies, reduce redundancies, and organize key aspects to save time, structure tasks, and align team efforts to ensure each phase of the project progresses smoothly. For example, using Kanban boards, teams can visualize task status and identify bottlenecks to resolve issues proactively for smoother progression.
• Increased efficiency: With well-defined guidelines, everyone in the team is on the same page and getting their work done efficiently. With clearly defined roles and optimal use of resources, teams achieve more, and most importantly, the right things, in less time and in the right way. For example, performing regular audits ensures compliance and sustained efficiency.
• Improved team collaboration and communication: By promoting open and transparent communication and psychological safety, best practices help create an environment where the team feels comfortable sharing their perspectives and opinions, without fearing being judged or criticized. For example, establishing clear communication channels brings alignment amongst team members regardless of time zones or schedules.
• Better stakeholder engagement: Project management best practices include involving stakeholders, be it internal or external, to keep them engaged, involved, and updated throughout the project life cycle. For example, engaging stakeholders through regular check-ins or updates keeps alignment between expectations, project requirements, and results.

Learn 5 effective ways to build a powerful stakeholder engagement plan

• Data-driven decision-making:  Keeping track of progress, performance metrics, KPIs, and resource utilization, helps organizations uncover actionable insights for data-driven decision-making. For example, by using tools that generate real-time reports, project managers can eliminate guesswork and make informed decisions.
• Better risk management: Best practices encourage proactive risk assessment to ensure no obstacles can compromise the project’s progress and quality at any stage. Earlier identification ensures better assessment, segregation, and prioritization. For example, risk assessment and creating contingency plans help teams avoid rework, delay, and resource wastage.

Discover a 6-step effective strategy to manage risks in project management

• Improved project success: Following the best practices, teams stay aligned, focused, and motivated, ultimately increasing the likelihood of meeting deadlines, nailing project goals, and delivering value. For example, focusing on quality, adaptability, and continuously improving processes helps claim higher project success rates.

7 project management best practices you should follow

Since now you have understood the benefits best practices for project management can have, let’s dive into the real deal.

Below are some of the most effective strategies that project managers can adopt to stay on track and ensure projects get executed—within budget, time, and scope.

1. Define business case

A business case is a descriptive document that clearly defines the value or benefits a project holds for the company. Instead of jumping right into execution, it is essential to build a solid business case, even if you are working on an internal project.   It helps you identify if the project in question is worth moving forward with. To justify the need for the project, evaluate if it aligns with overall business objectives or strategic goals, outlining all the opportunities, problems, risks, budget, and resources required.

It typically includes:

• Strategic context defining the purpose of the project
• Problem analysis to identify the core issues a project is trying to resolve
• Cost analysis to estimate all the expenses from start to finish
• Benefits outlining the outcomes of the project
• Potential ROI to estimate expected tangible returns
• Risk outlining the potential challenges and uncertainties
• Rewards highlighting the long-term advantage of undertaking the project

Doing so will help you identify if the project is contributing meaningfully to your organization, considering all the variables. Additionally, it can help you determine if you have the bandwidth and resources to take it on in the first place.

2. Develop project charter

Framing a project charter is one of the fundamental and best practices in project management. It is created during the initiation phase of the project before the project plan takes shape.

A Charter, as defined by The PMBOK Guide, 3rd Edition is “a document issued by the project initiator or sponsor that formally authorizes the existence of a project, and provides the project manager with the authority to apply organizational resources to project activities.”

It entails:

• Project name
• SMART objectives
• Scope
• Project overview
• Requirements (resources, budgets, etc.)
• Activities
• Milestones
• Deliverables
• Timeline
• Assumptions
• Constraints

This formal document acts as an authorizing tool for the project to commence and can be used to bring consensus from stakeholders.

3. Host a project kickoff meeting

Once you have the project charter ready, the next step is to bring everyone with a stake in projects to the table to kick off the project.

The kickoff meeting sets the stage for team members and stakeholders to share perspectives, align expectations, and provide feedback. It is also the ideal time to establish rules, define roles, and bring alignment between all parties.

This practice helps foster a mutually agreed-upon vision for everyone to rally around and sets the tone for effective collaboration moving forward.

4. Develop a comprehensive project plan

A project plan is a detailed outline that entails how the project will progress from initiation to completion. It acts as a roadmap for your team to move forward confidently in one direction while working individually on tasks and remaining aligned with the project goals. That’s why it’s essential to invest enough time in creating a well-thought-out plan that ensures your project doesn’t leave you stranded halfway through.

Some of the key components that a project plan must include are:

• Clearly define a project scope statement to prevent scope creep.
• Establish a clear Work Breakdown Structure (WBS) for easy task management and tracking.
• Create a detailed and realistic timeline for project execution.
• Identify all the resources required for a project along with their availability and workload.
• Assign specific roles and clear responsibilities to team members to increase accountability and streamline collaboration.
• Develop a risk management plan to identify all the risks and develop mitigation strategies
• Establish quality standards to define what the final outcome must look like and ensure it meets expectations.
• Identify all the key stakeholders to make a list, alongside their roles, expectations, and other needs.
• Create a communication plan specifying channels, frequency, and formats to ensure seamless information flow.

While drafting the plan, there are several critical factors that you must take into account, including team workload, resource availability, and potential risks. By doing this, you’ll leave no scope for gaps or delays in execution, ensuring a successful project outcome.

Discover our comprehensive guide on project management plan – all that you need to know

5. Clear communication channels

Communication is necessary, both internal and external, at every phase of the project lifecycle.

Executing a project is a joint effort, requiring regular and consistent communication between team members. Also, updating stakeholders about the project’s progress, roadblocks, and pending work is necessary to keep them in the loop, necessitating the need for communication channels even more.

Team communication tools are perfect solutions that create a centralized space for teams to communicate and collaborate in real-time. These tools allow team members to have both 1:1 or group conversions in real-time, share files and updates, attach documents, and even proof content – all without needing to locate information across multiple platforms.

6. Keep a finger on the pulse

Keeping track of all the project activities is crucial to ensure nothing slips through the cracks and the project stays on track. Make sure you are consistently evaluating, tracking, and measuring all project aspects – no matter how small – to stay in sync with deadlines, resources, and dependencies, ensuring informed decisions and smooth project progression.

Also, make sure you are hosting project retrospective meetings with stakeholders to update them on what went wrong and how it can be improved. This practice helps you gather valuable insights, project feedback, and team trust, creating a stronger, collaborative environment. Additionally, it creates an opportunity for you to refine processes, set clear expectations, and enhance strategies for future projects.

7. Make contingency plans

Projects are subjected to risk at all levels. And that’s why you should always have a robust risk management plan at your disposal.

To prepare one, you must make efforts to identify risks, evaluate their likelihood, and contemplate their impact to develop mitigation strategies during the planning stage. While not all risks associated with a project can be anticipated at the outset, having a structured approach ensures you are better equipped as the challenges arise.

This proactive approach will help you minimize disruptions, avoid delays, and keep projects on track.

Discover the must-have skills every project manager needs to master to effectively leverage the best practices for project management

What are the key principles of project management?

These are 12 principles of project management, here is the list:

1. Stewardship: Act responsibly to manage resources and carry out tasks with a focus on accountability and integrity.
2. Team: Build and maintain a team that works cohesively to meet objectives.
3. Stakeholders: Engage and manage stakeholders’ needs, expectations, and contributions for project success.
4. Value: Continually evaluate and ensure the project aligns with intended objectives and benefits.
5. System thinking: Recognize the interconnected nature of project components for positive project performance.
6. Leadership: Empower and adapt your leadership style to support the team and achieve project objectives.
7. Tailoring: Design project management practices to achieve the desired project objectives, considering its context, stakeholders, scope, and more.
8. Quality: Ensure delivering quality outcomes that align with project and business objectives.
9. Complexity: Manage project complexities by evaluating potential challenges and employing appropriate strategies.
10. Risk: Proactively identify, assess, and respond to risks to minimize negative impacts and capitalize on opportunities.
11. Adaptability and Resiliency: Embrace and promote flexibility to adjust to changes and recover quickly from failures.
12. Change: Acknowledge, respond, and prepare others to adapt to the new processes required to achieve the intended project result.

Start implementing best practices today

Better project management starts with a commitment to change. And project management best practices are the catalyst to the transformation. When implemented, these practices enhance the structure of the overall project management process and lead to consistently better outcomes.

Saying no to these practices is one of the major project management mistakes you could be making. Instead of attempting a complete overhaul, focus on identifying the potential areas for improvement. Whether it is improvising your communication strategy or refining your stakeholder engagement plan, every small adjustment can significantly contribute to the project’s success and your organization’s overall performance.

And there are project management tools like ProofHub that come in handy to support this transformation. By offering features for planning, management, execution, tracking, and collaboration, these tools streamline workflows, eliminate inefficiencies, and simplify processes, resulting in better project management and performance.

FAQs