So, how do you as project manager ensure that the project runs smoothly and is completed on time? One of the first things you need to do is establish your project objectives. This means the project must have a purpose; and you must have an idea of the end result. For this, you should establish goals and set a timeline within which these goals need to be achieved.
Next, define the scope of work involved. A major part of project management is scheduling work, budgeting, and assigning and evaluating resources. However, you cannot do any of these unless you establish the project's foundation.
Then comes the time frame within which the project needs to be completed. Now that you have an idea of the specific project tasks, you can schedule them in a way that will allow you to meet your deadlines.
Now comes the most important step: deciding your resource requirements and checking their availability. Since resources are limited, you must define the resources and the quantity you expect for your project. Determine how much these resources will cost and where they will be placed on the project.Finally, you must establish an estimate of the expenditure. You now know how much time it will take you to complete your project and the cost of your resources. These facts and figures will help you determine a solid budget that estimates your financial costs over the life of the project.