COMMON CHALLENGES IN B2B PROJECT MANAGEMENT

In the same way that solving a Rubik's cube requires you to keep an eye on a number of different aspects of the project at all times, as well as a number of different outcomes and how long the path to completion will take, project management is similar to solving a Rubik's cube. Problems with the project's scope, communication, and other aspects, among other things, are more prevalent than others. Here are some of the most common problems with project management and how to fix them.

SCOPE CREEP CHALLENGES

For any project, scope creep is normal and to be expected. There are times when it can be beneficial but mostly the cons outweigh the pros. 52% of project teams reported facing scope creep in 2017 and the trend is continuing upwards.  One of the most challenging aspects of project management for managers and the project team is dealing with clients who don't exactly know what they want and have vague requirements.

How to handle it:

Proactive communication with clients can help you learn about their precise requirements and expectations during the project planning phase. Accurate resource and talent utilization planning is also essential. Additionally, avoiding ad hoc change requests during project execution can cause delays and additional costs. Maintain the original strategy.

BUDGET RESTRICTION AND CHANGES IN PROJECT MANAGEMENT

When a project's scope begins to grow, so does the budget. Budget management can pose a big challenge for project managers.

Let's say, for instance, that a marketing team project manager discovers that in order to promote a new product, she will need to spend more money on online advertising than she initially anticipated. If the campaign is necessary, the manager may request more funds or stretch what she has to work with.

Project managers must accurately plan their budgets and keep projects within budget. They should use effective cost management strategies to stay within the budget that was agreed upon.

HOW TO DEAL WITH BUDGET RESTRISTION AND CHANGES 

• Regularly monitor and update the budget, keep a close eye on expenses and compare them to the planned budget to identify potential overruns early and take corrective action.  
• Implement change control processes, establish a formal procedure for reviewing and approving any changes to the project scope or budget.  This helps prevent scope creep and uncontrolled spending.
• Communicate transparently, keep stakeholders informed about budget constraints and any necessary adjustments.  Clear communication helps manage stakeholder expectations and build trust.
• Use contingency funds wisely, if you’ve included a contingency reserve in your budget, use it judiciously to address unexpected costs or changes.

LACK OF COMMUNICATION

In project management, effective communication is crucial to the project's success. To ensure that all stakeholders are involved in the process, you need to communicate in a timely and open manner. According to Deloitte, 32% of professionals consider communication to be the most significant challenge in project management. Because it affects teamwork, miscommunication is also dangerous for project teams. Conflicts among team members may result, and the project may be put on hold.

HOW TO DEAL WITH IT 

In order to keep everyone up to date, project managers frequently rely on a variety of collaborative and project management software that is available on the market. Tools for project collaboration not only make it simpler for managers to carry out their responsibilities, but they also guarantee increased project transparency and team accountability. @mentions, priority assignment capabilities, and contextual comments all make this possible. Additionally, having brief stand-up meetings a few times per week on a regular basis can greatly assist in preventing misunderstandings.

LACK OF ACCOUNTABILITY

A project team performs really well when every member feels responsible and tries to fulfill the role assigned to them.  Lack of accountability on the part of team members can sink an entire project.

HOW TO DEAL WITH IT 

Effective project managers assign responsibilities to team members and direct the team toward the common goal of successfully completing their project.  Having a project tool that allows responsibilities to be assigned and tracked is key to fostering accountability.  Additionally, having regular check-ins within the team also fosters accountability.

UNREALISTIC DEADLINES

Having an unrealistic deadline is another project management challenge that can severely affect the quality of the end product.  Any effective project manager knows the capability of the project team and negotiates the project timeline by prioritizing deadlines and project tasks.

HOW TO DEAL WITH IT 

In agile project management, all stakeholders' input is used to collectively determine velocity, the amount of work completed in a single sprint. This is done during the planning stage of the project. Furthermore, the project manager must constantly keep an eye on deadlines. This guarantees that any scope creep (an increase in the project's scope) will either be avoided or the timelines will be adjusted as necessary. Additionally, making use of tools that assist you in remaining focused and keeping track of your project team is crucial.