Efficient project management: the keys to success at CaixaBank Tech

In the world of project management, efficiency is key. Today, we want to talk about how to combine different elements in order to achieve it.

To make sure we are talking about the same thing: a project is a temporary effort that has a beginning and an end, that creates something unique and that is made gradually.

Efficient management involves using multiple elements conscientiously and accurately, from the basic: those without which the project would be meaningless and non-existent; to the complicated: those that enhance it and make it grow; and the complex: those that strengthen it and make it relevant; and, lest we forget, the chaotic: those that by virtue of being intangible, can create order or confusion.

Complete guide to managing the basic elements: scope, time and cost.

These concepts form an indissoluble triad in traditional management projects, or pairs with a free agent, for agile projects.

Scope, time and cost must be monitored constantly to avoid unplanned changes.

Efficient management of scope

Efficient management of scope requires knowing what was requested to make sure we devote our efforts to that, and specifically not to other things, so we don’t waste time. This management entails:

• Constantly checking that all the work is getting done
• Not allowing the scope to be randomly expanded.

Efficient management of time

Efficient management of time requires identifying all the activities to carry out, quantifying the time effort required for each of them, and committing to delivery dates.

Efficient management of cost

Efficient time management is closely related to cost management, since both require a lot of estimating involving the activities identified:

The management of both involves:

• Ensuring that the estimates are done by the person who will do the activity, trying to limit said activity as much as possible
• Reviewing the estimates continuously to make them better reflect reality
• Doing preventive and corrective tasks when problems are identified

Complete guide to managing the complicated elements: quality, resources and risks.

These are critical, but often underestimated, elements. They require planning and control, especially quality.

Efficient management of quality.

Quality is the degree to which the project satisfies requirements. Inattention to quality in projects always translates into reworks and defects. We often forget that quality must be planned and, as a lesser evil, it is inspected.

It is important to remember that quality is everyone’s responsibility in all settings and at all times.

Efficient management of resources.

Resource management involves assigning clear duties and developing the team.

Efficient resource management involves:

• Identifying the type of project in question: projects with or without AI.
• Identifying duties and responsibilities: you need to know who is going to do what and when.
• Developing the team: a single person does not a project make, a group of people does not a team make, a united team generates value.
• Publishing systems of rewards: People need be rewarded for their work

Complete guide to managing the complex elements: Satisfaction, Value and Improvement.

These elements are closely related, because they feed on each other.

The satisfaction of the customer and the satisfaction of the project team are essential.

We want to go beyond the delivery, look for value for the customer, making sure the project serves a specific purpose, and does so repeatedly, meaning it is available when required.

Working to improve means verifying that the levels of satisfaction are as expected so we can define and execute action plans that take us to levels that inspire us.

Complete guide to managing the chaotic elements: bravery, commitment and focus.

These are fundamental because they go unnoticed in most situations; if they did not exist, they would destabilise any project and lead to its failure.

They are chaotic because they are linked to people and not to knowledge, which is why we can’t expect a fixed, exact and uniform reply.

Bravery, commitment and focus must be managed as a team to ensure acceptable progress.

Managing them means acknowledging them and identifying each individual’s effort, and working to offset, as a team, any potential difficulties that could exist individually in order to achieve an acceptable level of progress as a group.

Efficient management of bravery.

We have to manage bravery, which teams need to face new challenges, in order to have an unbiased approach that lets us shift our perspective and see the situation from other points of view. Without bravery, we can’t venture into the unknown.

Efficient management of commitment.

We have to manage commitment, we keeps us from giving up, which puts us at the service of the team and beckons us to contribute generously as much talent, knowledge, energy and passion as we can muster. Without commitment, the outcome of the project will be a coin toss.

Efficient management of focus.

And we have manage our focus to ensure that it is known and common to everyone, and that it lights the way to the objective. Without focus, the effort is scattered and does not contribute.

At CaixaBank Tech, we have put in motion health indicators that help us to be mindful of all these elements. Effective and careful management is essential, and ensures that all our projects will have the desired results and success.