Why Does Project Business Matter?

by Stanimir Sotirov, Head of Projects, Project Business Foundation 

In today's business reality doing projects as a business is becoming the new trend in the
relationships between the organizations. Even though some companies denied that they are
doing projects as business or admit, just a small part of them are projects business for
customers. But their role in the organization growing considerably over the last few years.

The Wrong Methods

Today's traditional methods can't help you with your cross-corporate project. This is also
caused because of the increasing need for shared resources in the project business
environment. To manage projects in these conditions can be a big challenge. For instance, the
presence in the team of members – across countries, culture, and mostly cross-organizations,
led by virtual communication most of the time. We can also add the need for people with
flexible work hours in different time zones to fulfill some specific project requirements.

To have a successful project business management model, these teams need to be managed
with time-tested methods developing in organizations like Project Business Foundation. This
way, you can point out the possible issues and define each person, each process, and tools
that can be used in the work process.

Looking closer to these issues and assignments, which are essential for the project execution,
we need to define the followings:

  • Roles, responsibilities and relationship management.
  • Used Tools.
  • Work committed to the same goal.
The challenges in this can be various, from a single problem dealing and one-time decisions to
a multiple project work environment with complex. To have high project performance and a
right working environment, we also need to have team agreements as part of both –
communication and execution. In almost every successful project, there is the presence of
agreements. These agreements usually help to improve the project team atmosphere and
creativity, which leads to higher productivity. As far as project manager concern, this is one of
the critical factors for the best results. They affect the effectiveness and apply with all teams
in and out of the organization.
In almost every successful project, there is the presence of agreements.

The work in a project business environment comes with many benefits as well as some
challenges that may increase into a big problem in the project development and execution
phase.

One of the most common challenges is communication with and within the project business
environment. This is mostly because of language and cultural barriers. They are the primary
concern of the project managers and the reason for significant project delays or even failure.
In the cross-organization environment, they can increase in each new phase of the project
development. One of the approaches that can be used in this case is to give a management
role to the team member who has the best language understanding. Aside from this role,
usage of a software platform that can manage every aspect and department is a big plus.

Another challenge is difficulties with scheduling. Because in most cases, the involved
stakeholders are not located in your organization, and they are not aligned to the company
office culture, not engaged in organizational objectives. They cannot be genuinely responsible
as onsite employees. It's hard to point the priority tasks and those who need to be executed
in some dependencies. Because of this, sometimes, some stakeholders have been overloaded
with work from the project managers. To solve this issue, using project management software
is a must.

Tasks, Roles, and Responsibilities

This way, the team manager can set the tasks, roles, and responsibilities to each team member
or their leader if this is the decided structure. Of course, this is related to a problem that occurs
often, and this is the tracking of performance. There is a need for a particular methodology
or rules to track and assessment of performance in the project business environment. The
measure of success is, in most cases, the project accomplishment. But essential is also an
assessment during the project execution and tasks complete stages. Stakeholders need to be
rewarded for their work during the development process, not only for the final results. Advice
for performance improvement and work optimizing, based on a statistic extracted from data
from a particular software platform during the execution phase, will give you a significant
advantage and information for the involved parties' skills and knowledge base.

In the managing process of the project business environment, there must be rules for
communication and execution of the projects. If you are dealing with teams or individuals
which execute projects to bring money home, and work mostly remotely from you, then
you are in the project business. There are specific challenges and obstacles which can occur
in these relationships.

When teams or individuals bring money home, then you are in the project business.

When you decided to outsource the project work, the project contractor has the assets that
you need for the project, and you intended to turn them into resources for your project.
Project Business could be a significant part of your success when your organization
provides products or services through projects, especially if you consider joining dedicated
organizations like "Project Business Foundation" and using the right managing software
products.

All this in the name of a successful project business!