As long as organizations are flush with cash and resource rich, achieving work management success is relatively easy. However, when budgets are tight and resources are stretched thin, the secret to successful project based work is a little more challenging. That being said, as project teams are forced to work with smaller budgets and minimal resources, focusing on these three things will enable success:
- The Right Projects
- The Right Team
- The Right Approach
The Right Projects:
Depending on the organization, there are a number of criteria for choosing the right projects, however, when resources are scarce you might want to ask the following questions:
- What will it cost to get the project done (low capital cost is most desirable)?
- Can we achieve the objective with our current resources?
- Is it possible to finish in a short time period (less than six months)?
- Is there a lot of need?
- Is it a low-risk initiative?
- Will it provide a high payback?
The above questions will help you determine if the project under consideration is the right project.
The Right Team:
Merely because someone is available doesn’t mean they are the right person for the team. Make sure you have the right skills and the right people on the team.
The Right Approach:
Depending on the project, there are many approaches; however successful projects have a few things in common regardless of the project management tools you use: an engaged project sponsor, a clear list of objectives, and a reasonable timeline.
It’s not impossible to be successful with smaller budgets, all you need is the right projects, the right team, and the right approach.
