Whether you are an individual who is just starting a career in project management or have plenty of experience, being a project manager is not a piece of cake. You have to constantly stay updated with the basics of project management. Doing so will help you take up all the projects and complete them within a given time frame. Despite so many resources available, companies are wasting money each and are grappling to undertake all the challenges. For such reasons, the right project management approach is needed, so that companies can overcome all the challenges.
Challenges faced by project managers
When companies cannot handle the project management challenges, it leads to wastage of money and project delays. Studies have provided evidence that 1 out of 6 projects cost around 200% more than its estimated cost. Apart from that, about 70% of the IT projects experience project delays, and they fail to deliver them on time. Given below are some of the challenges that a project manager will encounter.
Lack of success criteria and clear goals:
When it comes to the successful completion of a software project, clarity stands out as an essential requirement. When there is no presence of clarity it will lead to unwanted management issues. Studies have shown evidence that about 39% of the software projects fail because it doesn’t have proper planning. As a project manager, you must look for solutions to quantify project progress through quality tests and milestones.
Lack of interaction:
32% of the experts have claimed that communication stands out as the biggest problem in project management. Miscommunications will not just cause conflicts between team members but also have a massive effect on their teamwork. For such reasons, you need to conduct effective communication within project management so that the outcome is positive.
The budgeting problems:
There are many project managers out there who believe that financial issues are one of the biggest challenges within a software project. This was proved with a survey conducting 2017, which showed that 39.7% of the managers agree that budgeting is the biggest issue under project management. You must opt for efficient cost management, which will help you prevent certain complications and strive for quicker and better results.
The scope creep:
The scope creep stands out as an expected and natural phenomenon within a software project. On several occasions, it might be beneficial, but many times, the cons surpass the pros. Clients who do not know what they require and have vague requirements are the biggest challenge for both the team and the project managers. To handle this situation, you need to become proactive and make proper planning. You must understand the needs of each of your clients. Doing so will help you deal with scope creep effectively.
The lack of accountability:
When all the members of a project team feel responsible, it will enable them to complete a project successfully. They will also try to fulfill the role they are given with hard work and dedication. When you assign each of your team members with work equally, it will help you complete the project within the given time frame.
When it comes to completing a software project, it's not that easy to complete everything in time. Project managers will experience many challenges, and they should know how to handle them by taking the right approach.