Why Project Management Is the Secret Weapon for Small Business Efficiency
KEY POINTS
- Project management comes in the form of project managers and project management software.
- Combined, these two types of assets can ensure that a project is efficient from design to delivery.
- The right project management software makes it possible for a project manager to keep close tabs on all the moving parts of the project.
Throughout my career, I've worn a lot of hats, but one that I am particularly proud of is being a project manager for a copywriting firm. I ran the teams, I assigned the workload, and, sometimes, I ate the pavement when a project slipped sideways. It was a challenge in every sense of the word, but it also was a job that brought considerable value to the small business I worked for, and I believe my work made us more efficient and productive. Here are some of the things I learned in that role.
What does a project manager do at a small business?
Project manager is a title that can have a bit of play in it, especially at a small business, but for the most part, a project manager for a small business assign tasks to the team, answers questions about those tasks, monitors the tasks and the overall project's progress, finds solutions when a team member doesn't meet their deadline, and generally ensures that the project gets delivered on time.
In my case, I also was often involved in hiring team members and, unfortunately, firing them, since we weren't large enough for a proper human resources department. I also often sat in on kick-off calls so I could get a very good understanding of what the project was. During those meetings, I would build the team in my head that I thought I needed for the project as the picture became clearer.
Current top project management software options
Below are some of our current top picks for project management software that combine value for the cost, combined with the features we consider essential for running your business's project management needs.
A project manager is your efficiency secret weapon
Not every business that runs projects has a project manager or project management tools, and you can often tell. Sometimes it's evident in a lack of cohesion of the end product, which your project manager is there to provide, and sometimes it's evident in a lack of on-time deliverables. Small business owners often choose to go it alone, and armed with the right software bundle and well-designed project management tools, they may themselves become the project's manager.
A project manager's job is efficiency and problem solving, through every step of the process of creating some kind of deliverable. It doesn't matter if it's a house, a website, or a software package -- your project manager's goals will be improving efficiency in these areas.
Task design
Your PM knows your team better than anyone, I can promise you that. If they are tasked with choosing how to break projects down into tasks, they're going to do this with the team's strengths and weaknesses in mind so later they don't have to find a way to fix a problem that could have been avoided.
Business Credit Card Comparison
Consider these business credit cards that offer a convenient and efficient way to separate personal and business expenses, simplifying accounting and tax reporting.
Additionally, business cards can provide valuable perks such as rewards points, cashback, and expense tracking tools, enhancing financial management and the potential to help save money in the long run.
Offer | Our Rating | Welcome Offer | Rewards Program | APR |
---|---|---|---|---|
Ink Business Unlimited® Credit Card
Apply Now for Ink Business Unlimited® Credit Card
On Chase's Secure Website. |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
Earn $750 bonus cash back Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening. | Earn unlimited 1.5% cash back on every purchase Earn unlimited 1.5% cash back on every purchase made for your business |
Intro: 0% Intro APR on Purchases Purchases: 0% Intro APR on Purchases, 12 months Balance Transfers: N/A Regular: 18.49% - 24.49% Variable |
Ink Business Preferred® Credit Card
Apply Now for Ink Business Preferred® Credit Card
On Chase's Secure Website. |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
Earn 120,000 bonus points Earn 120,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. | Earn 3 points per $1 in select business categories Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases-with no limit to the amount you can earn. |
Intro: N/A Purchases: N/A Balance Transfers: N/A Regular: 21.24%-26.24% Variable |
Task assignment
Your team has different strengths, and your PM knows it. That's why they will give the tasks best suited to the person with the right skills. This is an efficiency of its own, since you won't waste time trying to assign work that's obviously best for a particular person on the team.
Deadline compliance
There are always bumps along the road, and that means deadlines are easy to miss and hard to adhere to. A PM's job is to deliver their projects on time. That's why they work behind the scenes to check on progress and ensure that each part of the puzzle is moved to the right next party in a timely manner or reassigned to someone who can deliver the item before the next round of deadlines.
Quality control and product cohesion
Not all PMs are involved in quality control, but they should be at some level at a small business. This is a vital part of the job that gives your project the professional polish that will help you earn more market share over time. By implementing gatekeepers who are tasked with making the project shine according to written standards, your project manager ensures that clients aren't coming back asking about inconsistencies.
Project managers and project management tools
Of course, no project manager can be a success without project management tools. These software packages make it possible for the project manager to see all the moving parts of a project at a glance. This is where they get a lot of their intel about how a project is doing, especially one with several teams or levels of handling involved.
When you have multiple levels in a project, such as a copywriting firm that also has editorial staff and SEO experts on hand, you have to know where all those pieces are. Plus, you need to know where they should be and who has them at any given moment. In a busy environment, that's impossible without excellent project management software.
Project management is the key to turning a project that kind of works into one that has consistent professional shine, as well as one that meets its deadlines. That's just as important as the rest. A perfect project is useless if it's three weeks too late. With good project management, both in the form of human assets and software assets, your small business can be unstoppable.
Alert: our top-rated cash back card now has 0% intro APR until 2025
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a lengthy 0% intro APR period, a cash back rate of up to 5%, and all somehow for no annual fee! Click here to read our full review for free and apply in just 2 minutes.
Our Research Expert
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
Related Articles
View All Articles