McKinsey states that 45% of large IT projects run over budget, while 7% run over time, delivering 56% less value than expected. Effective IT project management is necessary to ensure project success. However, the evolving business landscape, IT budgeting, and the rise of remote working present significant challenges to IT project management.
IT project management tools & methodologies
IT project management involves planning, coordinating, and assigning tasks to achieve a company's technology-related objectives. A project manager is responsible for planning and executing a successful IT project. A project manager is responsible for planning and executing a successful IT project.
Here are a few IT project management tools and techniques for project managers.
Gantt charts: These help project management teams plan work around deadlines and allocate resources accordingly. Project managers can use Gantt charts to gain visibility into the project.
Kanban boards: These are visual task management tools comprising boards and moving charts to represent project activities. Kanban boards enable project managers to visualize workflows, assign tasks, and report project progress.
Risk matrix: This tool helps project managers determine the likelihood of project risks and their severity.
Agile project management: This method involves breaking down a large IT project into shorter sprints for a more thorough examination during the development phase. This close examination enables flexible and efficient planning based on the evolving needs and changes of the project as it progresses.
Rational Unified Process (RUP): The RUP (Rational Unified Process) is used in software development and involves breaking down the project into smaller parts with a focus on end-user input and satisfaction.
Phases in an IT project
Let’s discuss the phases of effective IT project management.
Initiation & Planning
During the initiation phase, determine the need and viability of the project by creating a project proposal. The team and the IT project manager will evaluate whether the project is worth the time and resources allocated. Once initiated, the planning phase calls for a collaboration between the IT project manager and their team to establish budgets, identify risks, and set clear project goals.
Execution & Monitoring
In the execution phase, the team sets deliverables, and the IT project manager delegates tasks and maintains communication among team members. Track the project's progress using IT project management software to monitor key metrics, including time, cost, scope, quality, and risk.
Closure & Evaluation
Once the project is complete, ensure all the tasks are completed, approved, and handed over to the appropriate team. Also, evaluate the project's success and review the lessons learned during the project. Evaluation is critical for future improvement and refinement of methodology, as it empowers your team to learn from the past and improve future projects.
Effective IT project management is essential to ensure the project’s success. Project managers can use different tools and methodologies, such as waterfall, kanban, and agile project management, to transition smoothly between different phases of project management.
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