Three Practices to Increase the Efficiency of Project Management in Software Companies

We live in a world continuously reshaped by rapid technological transformation, touching on every aspect of our lives. More and more companies are incorporating digital services and automation capabilities, so demand for software development is higher than ever.  
 
To meet this accelerating need for digital services, software companies need to manage their projects as efficiently as possible and maximize their value. Most people are familiar with the term “Project Management” in software development – the process of planning, executing and delivering software on time and within budget.
 
Its main goal is to balance the budget, time, and human resources optimally so that the software development teams can work with little or no hassle throughout the entire software development lifecycle. It makes no difference whether you’re a leading tech corporation or just a startup – your software development projects require a certain level of expertise and management if you want to ensure successful implementation and avoid potential failure.  
 
Software project management can be categorized into 6 stages.  
 

• Initiation phase – Identifying the stakeholder’s expectations and estimating the project scope, duration, and efforts before moving on to planning.
• Planning phase – Creating a detailed development process timeline, including management of resources, risks, tasks, and staff.  
• Development phase – Overseeing the process of writing and developing the code while measuring progress and performance to check if everything runs according to plan and reporting on the project.  
• Testing phase – Staying informed on the results to ensure they meet the quality standards and stakeholder expectations.  
• Deployment phase – Taking the necessary steps to ensure the software is deployed to production and taking it live.  
• Closing phase – Documenting the entire process, gathering internal and external feedback, and evaluating the project's success.  

 
Depending on how complicated the software is, a single project can last up to several years, so an efficient and strategic approach to software project management is vital.
 
Here are three practices that will significantly impact the efficiency of your software project management.  
 
Choosing a suitable methodology
  
Choosing the most suitable project management methodology for the company and the team is essential. There are many methodologies executives can choose from based on focus and approach. For example, the traditional “waterfall” methodology is comprised of static phases that are executed in a linear order with limited flexibility, while the “agile” methodology focuses on continuous improvement throughout the development process and delivering better solutions. Also, these two can be combined into a hybrid methodology that applies the best of both worlds. This hybrid methodology can take planning following a waterfall approach, while later phases, such as development and implementation, can follow an agile approach. There is a plethora of other methodologies companies can choose from that will best suit their structure, hierarchy, employees, corporate culture, technology, etc. Executives need to choose and follow a single methodology because this will be the framework of their project management process.
 
Setting clear and realistic goals
 
Ambiguity and lack of clarity create frustration within the team and increase the chances of project failure. Therefore, goals and requirements must be clearly defined from the very beginning. Setting realistic and achievable goals is also a must. The team needs to know the work scope, the objectives of the project, and what’s expected out of every one of them. So, the goals must be clear, realistic, measurable, and achievable. Setting ambiguous and unrealistic goals that the team doesn’t understand and can’t achieve isn’t favorable for the project manager, the executives, or the company. Project goals need to be broken down into smaller goals and objectives that are realistic and achievable within reasonable timescales, which will help to ensure the project progresses as planned.  
 
Creating the right project team 
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The project outcome depends on the project team. Often, a solid team of experienced professionals with the right set of skills and attitudes is what leads to the project’s success. Creating the right team for the job means handpicking the people whose skills and experience align with the project’s requirements. Aside from technical skills, other things to look at are attitude and communication skills, which means determining the individual’s reliability, accountability, proactivity, flexibility, and ability to give and receive feedback openly and transparently.    
  
The biggest advantage of efficient project management is that it generates efficiency in the team, directly contributing to the company’s overall success. By freeing up resources and letting people focus on the product rather than the process, efficient project management allows team members to use their time efficiently and produce their best possible work, which means the client will receive the best possible product.