Managing your Project January 2014

Today Effective Planning –Subject –Costs –Accountability –Resources –Measurement Managing Money Target and Goal Setting Delegation Time Management

Planning Effective planning: Allows processes and projects to run smoothly and efficiently Tests viability of the project or activity Ensures that resources and logistics are accounted for Creates a hierarchy and accountability for communication and actions Helps in the management of costs Helps to ensure the project delivers on expectations Dictates how success will be measured

Subject Costs Resources Accountability Measurement Planning - S.C.R.A.M

Subject: 1.A description of project / activity (p/a) 2.Desired outcomes from the p/a Costs: 1.Start up costs – spending required prior to the launch of the p/a 2.Running Costs – day to day costs that will regularly occur during the life of the p/a 3.Staff costs – potential cost of manpower for the p/a

Planning - S.C.R.A.M Resources 1.Time involved in setting up and maintaining the p/a 2.Materials required to run the p/a 3.Physical space required to run the p/a 4.Manpower required to manage the p/a Accountability 1.Who are the personnel responsible. 2.What will their role be 3.Who has ultimate ownership of p/a

Planning - S.C.R.A.M Measurement 1.What measurements methods will you use 2.Where are your milestones 3.Are meetings required to feedback 4.Who is responsible for the feedback 5.What are the deadlines 6.How will you communicate this information to all parties involved And don’t forget S.W.O.T.

Managing Money Cash is the single most important part of a successful enterprise, which makes this an essential part of any venture. Predictions calculated based on evidence and research At the end of each week / month update with actual figures Check changes the actual makes to forecast so you can react positively Discipline yourself to update regularly

Target and Goal Setting Benefits of Goal Setting: Allows progress to be measured consistently Give a clear message to communicate Offers a framework for delivery and accountability Gives positive direction Motivating Is the basis for Performance Management

Target Setting Methods Here are some common methods for setting targets. Smart is very good for setting linear targets, GROW offers a more flexible ongoing method. S.M.A.R.T – E.R. G.R.O.W. C.I.G.A.R.

G.R.O.W G = Goal, what is it you are wanting to achieve R = Reality, where are you now O = Objectives, what are the steps you will take W = Wrap up, how are you going to do it and by when This is also a great coaching and feedback tool

Delegation Delegation is the art of good management. You may not be able to do it all alone, effective delegation removes pressure from you and brings new skills and ideas into the mix. Delegation is not task dumping Match skills and empower delegated party Clearly communicate goals, measures and metrics Follow up regularly The ultimate accountability is yours Delegating requires… Trust Confidence and discipline to let go

Time Management Time management and prioritisation is about accuracy of choices. Think of time as an investment Take time to plan time Schedule time for interruptions Put up a ‘Do Not Disturb’ sign 20% of your thoughts, conversations and activities produce 80% of your results Record your thoughts and give them time You are allowed to say no Eliminate distractions

Covey’s Time Management Matrix Do it nowSchedule and plan DelegateDump UrgentNot Urgent Unimportant Important

Gantt Charts

Control Point Identification Chart Control ElementWhat is likely to go wrong? How and when will I know? What will I do about it? Quality Cost Time Quantity

Project Leader or Project Manager Manager Tells Has a process Administers Maintains within constraints Focuses on systems Relies on control Short-range view Asks “how and when” Eye on the bottom line Imitates Accepts the status quo Does things right Leader Sells Has a vision Innovates Develops to break free of constraints Focuses on people Inspires and motivates Long range view Asks “what and why” Eye on the horizon Creates Challenges the status quo Does the right thing

7 Habits of Highly Effective People Stephen Covey ( ) 1.Be proactive 2.Begin with the end in mind 3.Put first things first 4.Think win, win, win. 5.Seek first to understand and then to be understood 6.Synergise 7.Sharpen the saw

We have covered Effective Planning –Subject –Costs –Accountability –Resources –Measurement Managing Money Target and Goal Setting Delegation Time Management

Patrick Weaver Project management and the art of delegation managementdelegation/ managementdelegation/ Richard Branson on the Art of Delegation Emily Copp The Art of Delegation work-smarter-today/ work-smarter-today/ Oxford Brookes – Time Management The Entrepreneur - 10 Time Management Tips That Work Team Gantt Internet Resources

Suggested Reading Project Management For Dummies – Nick Graham Project Management Step by Step – Richard Newton Brilliant Project Management – Steven Barker and Rob Cole Project Management Pocketbook – Keith Posner and Mike Applegarth The 7 Habits of Highly Effective People - Stephen Covey

Social & Media Communications - 29 January 2014, 2-7pm Fundraising - 05 February 2014, pm. Measuring the Impact of your project - 12 February 2014, pm Wenta website: My Incubator Ventures website: