How to leverage project management maturity assessments to elevate your project management function

Summary

Achieving maturity in project management functions requires an abundant amount of time, resources, and skills. The objectives of project management maturity are to strike a balance between deadlines, quality, and resource availability. The process of project management maturity is a distinctive one. It elevates the scope of project management and scales up the approach to how a project is handled. There are several ways a business can level up and move towards project management maturity to meet optimal management functions. 

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Project management is the collection of skills, resources, knowledge and expertise that fulfil a project and its targets.

The objectives of project management maturity

The three vital components of project management are; deadlines, quality, and resource availability. Most often, project management objectives revolve around these three components—and competition. 

The following are the objectives that are normally aimed for as a means to reach the optimal outputs of a project:

• Meeting project deadlines as intended 
• Completing projects on par with set objectives 
• Identifying risks and managing them effectively 

The process of project management maturity

Achieving maturity in project management directs project management functions to undergo process measurement and analysis to evaluate the effectiveness of delivery and the scope of improvement. 

A business must pass five stages to pave the way for project management success:

1. Initial processes

In the initial process, actions are nominal. All the work and documentation are at their bare minimum levels. However, at this stage, key information can be gathered to proceed with structuring.

2. Structured processes

This is when well-defined inputs, processes and outputs have been disseminated along the hierarchy. At this level, information on cost, timeframes, and metrics will be compiled for decision-making. 

3. Organisational processes

This is when the project is escalated across the firm and is formalised with compiled data to unify processes. This determines the work that needs to be done and develops harmony in decision-making. 

4. Managed processes

This is when the project moves in a uniform and synchronised pattern towards achievement. Decisions made in this stage are backed up with information and take quantitative data into account.

5. Optimised processes

This is when you review and monitor your project management process whilst seeking continuous improvement to reap favourable benefits. Optimising allows a business to develop and build on efficiency. 

What is the essence of a project management maturity assessment?

A maturity assessment for project management is a structured process that examines a business’s maturity level so that decision-makers can prioritise and identify the strengths, weaknesses, opportunities and threats that can affect a project’s capacity and capability. 

How to elevate project management with a maturity assessment

Project management can be rather tedious and data has shown that 12% of overall resources are wasted due to inefficient project management practices. Businesses must prevent this by improving their approach to handling projects. 

Businesses can plan out their projects by conducting a maturity assessment. A maturity assessment outlines the understanding of where a business stands, its ideal positioning and its formation—aligning algorithms, classifying project targets, and prioritising deadlines, quality, and costs. 

Here is how making use of a maturity assessment will help your organisation. 

Build clear lines of communication

Project management can be tedious because it deals with streamlining internal stakeholders to work in tandem with each other. 

Managing a team is one of the most challenging tasks for project managers. Communicating frequently with employees will help minimise bottlenecks in deriving project objectives. This will improve the ability to meet deadlines, preserve quality, and keep costs as they were set. 

Educate on the need for maturity

Maturity is generally pushed under the rug when it should be made a top priority in project management. 

Data has shown that only 46% of firms set maturity targets in project management. Employees and managers should be made aware of the importance of data when making decisions. It is important to escalate from each level and remind internal stakeholders of the issues of project completion in the past. 

Create a more strategic plan for projects 

This helps make the process of tackling a project more manageable. Data has shown that projects generally lack planning, showing that 44% of the resource allocation is insufficient and 31% of projects have unrealistic deadline issues—resulting in project failure. 

The project should be laid out and all tasks should be broken down to ensure accuracy and act as a motivational factor to continue the project. 

Automate project management processes 

Automation can be used to streamline project management processes. This can save time for decision-making, improve communication, and take monotonous and recurring tasks off the backs of the team.

A survey showed that around 54% of workers spend the majority of their time on tedious and time-consuming tasks that require no strategic focus. Automating them will drive success in the overall function.

Establish concrete SMART objectives 

If clear objectives are set, a better understanding of the project can be achieved by defining the actions that need to be taken across the project. Data has shown that there is a lack of clarity in projects that affect their final results.

Project management is complex but, setting objectives and following the SMART criteria helps the project teams be more effective with their time throughout the project. 

Conducting a maturity assessment for project management 

This test will enable your organisation to derive insights into how well the maturity tactics are performing. Once a maturity test has been done, it will allow your firm to redefine project goals, lay down the project components, and leverage quality control measures to ensure the anticipated outcome is achieved. 

Leverage a project management consultant to conduct effective maturity assessments to elevate your project management function

A project management consultant will bring specialised knowledge, skills and expertise to the table of project management. They are likely to enable you to make informed decisions throughout the project lifecycle—enabling optimised time management and better project completion metrics. This will also minimise costs due to errors and lack of insight. 

Project management consulting is likely to align your project objectives, fit your budget and timescape, and elevate your project levels to project management maturity. Leverage the expertise of a project management consultant to conduct comprehensive maturity assessments and enhance the project management function.