Critical Successful Factors in Project Management

You’ve just had a funding application approved for an amazing project. Congratulations!

Now you need to deliver.

So, what are the critical success factors for managing and delivering your project?

Here I am going to explore three of the most important elements you need to focus on before you dive head first into project delivery.

Clearly understanding from the start the program logic that underpins the entire will save a lot of stress and heartache.  

Even though you might assume these are all clear based on the funding application, often this is not the case. The project scope might have changed during the application process. Funding approval can take time, maybe there have been new developments in the industry or target market. Moving into delivery you might need to get more specific about your method, resourcing and timeframes.

If you are planning to bring on a project manager, you will need to brief them on these fundamentals. They may also have ideas about how to structure the project to maximise efficiencies and improve outcomes. 

Let’s take a look at three critical success factors for project management.

What is the project trying to achieve?

Being able to clearly articulate exactly what the project will deliver is critical. It not only drives the project team, but will filter through to consultation, marketing, PR and the assessment of success.

• What does a successful project look like? 

• What outcomes need to be delivered?

• What impact is the project going to make?

Don’t forget you need to consider these questions from the perspective of multiple stakeholder groups. What would success look like to the end user? For their broader community? For the industry? For industry bodies? For sponsors? For the funding body?

Usually there is alignment between these groups. Success may look and feel similar across them. But the larger your project and the more stakeholders involved, the more complex the definition of success can be.

You might consider some initial consultation with select stakeholders at this early stage. Then you can sense check your understanding of what they think the end results need to be. You might also need to clarify the boundaries and limitations of the project. What a project won’t be able to deliver might be as important as what it will.

How is the project going to achieve its objectives?

The way you deliver your project needs to be relevant and valuable to the end user. 

Sometimes even the best intentions can miss the mark if assumptions are made about what they want and need. 

Yes, you have to stick to the process you outlined in your funding proposal. But there are ways to be adaptable in your approach while still coming back to the core elements. For example, a webinar series could be a good add on to a project that originally only aimed to deliver face to face workshops. 

A benefit of bringing on an experienced project manager is they can offer ideas about alternative ways to deliver outcomes. They can see opportunities to reduce expenses, save time, maximise efficiencies and manage risks. If COVID has taught us anything it is that there are more resourceful ways and means to engage with people but still deliver impact.

Do you know your numbers?

No-one wants to get to the end of a project, start to prepare the final report and realise they can’t meet the reporting requirements. Trying to retroactively create records and budgets isn’t anyone’s idea of fun – and isn’t good governance. Inadequate reporting can also impact your likelihood of receiving funding in the future.

My #1 tip for successful project delivery? Know your numbers.

Unsurprisingly, one of the main things the funding body is going to want to see is evidence of how you spent their money.

Building a comprehensive, itemised budget has to be a priority during project kick off. No shortcuts here, sorry. And I can guarantee the effort you put in to flesh out all the anticipated expenses will be worth it in the long run. Project finances can be brought undone by underestimating costs like printing workbooks, paying facilitators and providing catering.

A project manager can help identify areas of risk, or opportunities to make the dollars stretch further.

Right now, the Federal government’s Future Drought Fund is one of the key sources of funding in rural areas. Billions of dollars of public money are being allocated. Regardless of where the money is coming from, we have an obligation to spend those dollars responsibly. Most, if not all, projects require an end of project report including a funds acquittal. Some can even require itemised bank statements showing funds dispersed.

Bigger projects might receive their funding in staggered progress payments linked to milestones. In these cases, the budget is even more critical to prevent the project stalling from lack of funds. 

There will be requirements to provide evidence of outcomes delivered. They will need to justify continued provision of funding for future projects by proving the money being spent is having an impact. You might need to have before and after data, or collect feedback from participants. If these aren’t built into the project at the beginning, you might miss your chance.

Be aware of seemingly small details like proper use of funding body logos and approval processes for marketing material. Getting this right can suck up a lot of time and so need to be factored into any timelines. 

The importance of proper project planning cannot be overstated. 

Regardless of the size and nature of the project, it is essential that the principles of good project management are applied. Not only to meet governance obligations, but to also set the project up for success and deliver greater impact for our stakeholders and communities.

If you’ve just had your funding proposal accepted and are looking for project management support, Cross Country Management can help. Get in touch and let’s have a conversation about setting your project up for success.