How to Manage a project using Cost, Resources and Timeline

This brief article discusses how to manage a projects using cost, resources (People) and timeline.

Things You'll Need

• A Budget
• Number of resources (People)
• Duration (timeline)

Instructions

1. Managing Resources (people): The most effective way to manage people in a small project is 1) Present the goals of the project to the team members 2) Explain the tasks of each individual on the overall project 3) Monitor the progress of each individual.

2. Managing Cost: On a small project managing cost is essential to not run over your initial budget. The most common mistake is made at the beginning of the project when funds are the most and readily available. In the beginning of the project, manage costs daily; Run reports and project future costs. Minimize any over spending by focusing on the essentials to deliver the project on-time and within the budget.

3. Managing Timeline (Duration): Small projects go over the estimated timeline due to managers not sticking to what was essential to complete the project. The most effective way to complete a project on-time is to complete what is required first then to do extra. It is key to communicate this to the team members.

Tips & Warnings

• Focus on regular reporting on cost and timeline updates

• Share the reports with your team so they are aware of the activities

• Share the errors and solutions with your team members

• This is a summary of each activity: cost, timeline and resource (people)

• The focus is a general point of view and for small projects (under 10k in budget, with 2 to 4 people and at the most 3 weeks in duration)

• Managing projects are not easy and with time and experience will get easier