In the execution stage, the team will focus on achieving the objectives. She will use the information gathered in the first two steps to build and launch the project within the specified time frame from teamwork and collaboration.
To get started, assign tasks to team members. If you already use a project management tool, you can add these tasks to your project workflow so your team can quickly access resources and communicate in one place. Scheduling software and other project mapping tools can help your team visualize each step of the project.
Next, prepare the success tracking and analysis methodology so that everyone clearly understands how success will be measured, which can be specific performance indicators that you plan to monitor or post-campaign goals that you seek to achieve.
As deadlines and workload change daily, update the project schedule as needed and close fulfilled dependencies. If there is a deadline, you should organize your team’s schedule around priorities. It’s a good idea to regularly contact team members to determine if the project is on track and results are being achieved.
While it is normal for schedules to vary, it is important to stay as close to the original schedule as possible so as not to incur scope deviations. In other words, you shouldn’t stray too far from the original scope of the project.
Measuring the effectiveness of a project is important for several reasons. Being able to improve the project is a significant reason, but it is also important because team members can learn from both success and failure. There are many key performance indicators that one can use to set and achieve strategic goals with the help of goal setting software. The indicators used will depend on the line of work and the type of project being worked on.
One of the first performance metrics to consider is the initial objective. Did the project address the problem it sought to solve? Since it’s easy to disassociate yourself from the initial goal, it’s important to keep it in mind when measuring performance.
The next step should be to examine other key performance indicators to determine whether the project was successful. Some universal indicators are return on investment, cost performance index, planned value, actual cost and earned value, among many others.
Let the participants know about the success of the project, including what worked and what didn’t. Being honest and open to feedback is the best way for team members to learn from their mistakes.
This stage varies the most between companies and teams. While some like to emphasize hard work, others like to get started right away with the next big thing. There’s no right or wrong way to close a project and it’s up to you to figure out what works best for the team.
When closing a project, it may be a good idea to meet with project participants and analyze success in depth. This type of meeting is commonly known as a project retrospective. If you decide to hold a meeting, consider submitting an anonymous survey ahead of time to ensure all critical issues are addressed. It’s a good idea to review the key performance indicators measured at the performance stage so that all parties involved have a clear understanding of what went and didn’t go well. This avoids repeating errors in future projects.
It’s also worth organizing and storing project material in a shared folder before closing so colleagues can access it whenever they need to. It is important to have materials such as the project brief, templates, publicity copy, design files, development work, etc. on hand when it comes time to assess performance.
An important opportunity that is often missed in the project closing stage is to continue to monitor performance. Does your team have a habit of forgetting old projects? It is important to constantly test and reinvent new ways of carrying out projects to continue growing as a company.