C. Myblog

Project Management Tips

March 13, 2014

As projects are kicked off in credit unions every day, many project managers understand the basic project management phases of initiation, planning, execution, control and closure. But we all know the “devil is in the details.” Here are a few tips you might find helpful:

  • Get all the players involved at the outset. At credit unions, it is not uncommon for compliance, marketing, legal and training departments to be introduced to the project in its later phases. Input from each department can be critical so it’s best to get it early on in order to prevent do-overs later
  • During project kickoff, coordinate everyone’s PTO/vacation/travel schedule
  • If vendors are involved, have a clear conversation up front to understand their time constraints. Don’t assume that they will be able to accommodate your schedule if the project timeline changes, as they likely have other commitments
  • Think through and document the biggest risks to the project. Then consider mitigation strategies and bad-case scenarios and communicate them to stakeholders
  • Ensure that all documents, communication and other project-related materials are located in a central place where everyone who needs to can access them easily
  • Keep track of all decisions made throughout the project, including those made during regular meetings. Be sure to document the rationale for the decisions. The rationale is just as important as the decision itself

These are just a few tips we’ve identified in our extensive work with credit unions on project management. Projects can be frustrating, over budget and overly time-consuming, but they don’t have to be. Successfully implementing a solid project management structure that evolves into a culture of execution can be a true strategic advantage for your credit union.

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