It’s cliche but the truest phrase in business, trade, and finance is “Time is money”. Time is of the essence in everything we do within our businesses simply because lost time can lead to lost sales, customers, and growth. Even when you say to one of your employees, “take your time”, you don’t really mean it fully. You want them to be careful and do a good job, but you also want efficient performance and production.
So, when it comes to project management, how should you approach the issue of time? Some say it’s better for business owners to allow their managers to time track and clear up any loose ends. Others say it’s better to track a project’s success using data. In all honesty, merging the two covers the process more completely because data is not always accurately collected and managers make mistakes. But where could data management and project management find common ground? Here are a few ideas…
An Idea Evolution
When an idea is offered, the project team can start to dissect it. They brainstorm about what’s good, what’s bad, and what things stand the highest chance of working, etc. When an idea is born, you can limit the amount of time spent on tiny details that prevent the idea from gathering steam. This process management is important because most ideas come together during the end phases.
Having the ability to track the evolution of your idea gives you a sense of how long it takes for your project team to make clear choices. Using idea tracking software helps you to decide on the small and large details as well as the phases of its growth. By taking minutes in each meeting and also tracking when a phase gets completed, you have accurate time management of the project idea.
Product Designing Phase
No matter how great the function of a product is, it needs to also withstand things like adverse temperatures, knocks, drops, scrapes, and torsions. Having this data, not only gives your customers confidence, but your brand will be known for quality.
How can you track each incremental improvement made during the testing phase? If you look at the bespoke development options you have here, you’ll see that this company makes software to allow you to do just that. Using the IoT method of data capture and study, your product development phase will receive a holistic treatment. Everything connects together, as each test result, material performance, and condition change is logged and therefore can be studied.
Freedom of Expression
It’s important to plan your project around data but also allow your team to express themselves and think of new ways to solve problems that may not be reflected there. Projects can be greatly improved by data collection and study. However, it should be done carefully and using a holistic approach so you leave no stone unturned.