9 steps to a successful project implementation
Get the best advice from project management experts
How to avoid the most common mistakes in a project
Guide for businesses that work project-based
There are many elements to keep track of in a project, and many that can go wrong along the way. Starting a new project is in the backbone of companies that work project-oriented, but even in large projects with extensive budgets, experienced project participants and a long time horizon, we often see that details can be missed.
To complete a successful project, there are some basic steps you should go through. In this guide, we go through steps like offers, pricing and communication plan.
Meet prepared for the project
We can not guarantee that this guide will help you avoid all the bumps in the road. But by preparing yourself as well as possible for the project, you stand strong.
You may know some of the tips from before, and others will be brand new. Read carefully through all 9 steps - then you will facilitate a successful project, and be sure you don't forget anything.
Have you not tried Moment yet?
Gain control of your projects and resources with a complete operational tool. Project management, time management, resource planning and invoicing, all in one system.
Here is a taste of some of the good tips from the guide:
The finances of the project: What you should keep in mind when making offers, pricing and invoicing
The offer you send to the customer must reflect the goals you have set. The offer must include prices and time estimates for all elements and milestones. (NB! Download the guide to read more about targets and milestones)
The more detailed and accurate the offer is, the less uncertainty there will be about invoicing and whether the project has been completed.
Agree on the pricing-model
Many businesses who work project-based find it difficult to actually get paid for the hours they work. Therefore, it is very important to agree up front on the pricing-model: Should the project be priced at a fixed price or on the amount of hours used?
Clarify which costs can be invoiced and which can not
All costs that may occur on the project should be clarified with the customer in advance. What can be invoiced? What can not be invoiced? Should outlays be included in the total price or invoiced in addition to it?
In the offer, there should also be an agreement on what happens if the hourly consumption is higher than expected. There is no guarantee that you can invoice hours that exceed what was originally planned. Agreeing on how these hours should be handled prior to project start-up can have a major impact on project finances.
When the contract is signed with the agreed pricing, the price must be entered in the project tool. If there are price changes, this must also be added to the contract.
Keep track of hourly use along the way (set an automatic notification for hourly consumption)
Make sure you keep track of how many hours you spent on the project. If you use a project system, you can notify when the project has reached a certain consumption limit - for example, 20% or 40%. This way, you do not have to go in to the system and monitor the project hours every day.
With hourly consumption notice, you have the opportunity to measure the progress of your project.
Regular status meetings can make a big difference
Once you have set up hourly consumption warnings, it is a good idea to set up a status meeting with the rest of the team to see if the number of hours spent reflects the completed work. The information that is shared in the status meeting can help you decide on the further course. Do you have to adjust the course or are you on track to finish the project as agreed? These status meetings can make the difference between delivering a project according to expectations- or not.
If you notice that several more hours are needed for the project, it is a good idea to contact the customer, to avoid the overconsumption being discovered only when the invoice is sent to the customer.
Expert Tips: Discounts
If it is necessary to give the customer a discount, it is important to give a discount on the hourly rate, not the amount of hours used on the project. This makes it clear to the customer how many hours the project will actually demand, and also helps the customer get the right expectations of how many hours you will spend and the timeline for the project.