8 High-Impact Project Management Goals To Improve Performance

As a business owner, you know that great ideas are only the beginning. The beginning is definitely important, but to get the best out of it, you and your team need to put maximum effort into executing those ideas with all the dedication. Sometimes even after putting all your efforts, you don’t get the desired results. That’s where you realize that your efforts are not the issue. It’s often a problem with the process itself.

According to the recent study by TeamStage, the biggest reason for project failure (more than 37% of time) is lack of clear goals. That’s a big number, but the best thing is that you can control this problem fully.

So, how do you make sure that you don’t need to face failure due even after putting your 100% efforts in execution? By setting smart, strategic project management goals. That does more than just get a project finished. These are the goals that improve your team’s performance. They make your business more efficient, and ultimately, help you grow.

Examples of Effective Project Management Goals

Here are the best examples of high-impact project management goals that you can set for your business. These goals are complete with real-world examples to show you how they work.

01. Reduce Rework by 20%

Working the same thing again and again is always a huge time-waster. It’s the time and effort spent fixing mistakes that could have been avoided with better planning and communication from the start. A Geneca survey found that teams can spend up to 50% of their time just on rework. That’s half your team’s effort that could be going toward new, exciting projects.

Example: Your marketing team is building a new website. They’re halfway through the design when the sales team realizes a key feature is missing. The designers now have to go back and redo a significant portion of their work.

How to Fix It: This goal starts with clear communication. Use a task management tool to create a central place for all project requirements. Get everyone’s approval before the work begins. This way you can manage your workflow smoothly. Everyone stays on the same page from day one, and you avoid costly surprises.

02. Increase On-Time Project Delivery by 15%

We all have faced it. Missing the deadline while working on any task or project is a common thing people face in business. Due to unforeseen circumstances, people can miss deadlines. It is common yet a big deal. Not getting within a defined time-limit frustrates clients. If it is once in a while, it can be understandable. But, if it is a common practice, it damages your business’s reputation. The goal should be to never miss a deadline. However, it is not realistic.  The realistic goal should be increasing the on-time project delivery by X%. If you consistently deliver on time, it builds trust and can lead to more business.

Example: A client project is two weeks late because one team member was occupied with other work. He prioritized other work and could not finish the task on time.

How to Fix It: As a manager, you need to be able to see who is working on what. A project management software that offers a good visual layout is the best solution. Layout like a Kanban board or Gantt chart helps you see task deadlines and team workloads at a glance. You can see a problem coming based on the data available with you. And to avoid this you can easily shift tasks around to keep everything on schedule.

03. Decrease Project Budget Overruns by 10%

Keeping a project on budget is crucial for your bottom line. A report from Monday.com revealed that businesses waste about 12% of their resources because of poor project management. When you reduce the budget overrun, the project cost automatically reduces. It boosts your profitability, and overall income. Hence When you set a goal to reduce budget overruns

Example: A construction project goes over budget because a vendor invoice was mismanaged. The team ended up paying for more expensive materials than planned.

How to Fix It: You need to track your project and tasks thoroughly. A project management tool that lets you track expenses. You can compare them against your planned budget using detailed reports and analytics features. This helps you detect potential overruns in the early stage. You can take action before they become a major problem.

Also Read – Solve Your Hidden Operational Expenses with Task Management Software for Business

04. Boost Stakeholder Satisfaction by 10%

As a manager, you need to communicate timely with clients and key people involved in the project. You need to keep them updated with project improvements, bottlenecks, or any key information related to the project. When clients feel they are kept involved in the project, they get more confidence in your team. It helps your business in retaining clients and achieving better project outcomes.

Example: A business owner has hired a marketing agency for SEO related work. The marketing team is facing issues due to low website speed. That has become a bottleneck in achieving better results. However, they are not informing a client about this bottleneck. Even client’s messages and emails are unattended. This makes a business owner frustrated, and he starts losing trust in the agency.

How to Fix It: Improve communication and be more transparent. If you’re using a project management tool, keep your tasks updated, and add comments wherever you’re stuck in any task. This keeps every stakeholder informed about the project progress.

Also Read – Effective Communication at Workplace: Why It Matters & How to Improve

05. Improve Team Communication and Collaboration

Communication is the glue that holds a project together. According to reports, poor communication is one of the major reasons for project failure. In this era of remote work, having a strong communication setup is a must for every business.

Example: A remote team is using email as a primary communication medium. And some members miss the latest email and end up working with outdated information.

How to Fix It: Centralize your communication. Use a project management platform that includes a chat function and lets you comment directly on tasks. All discussions, files, and feedback are linked to the right task, so everyone always has the most current information. WhatsApp based task management apps can even keep the people associated with the specific task updated on WhatsApp. This real-time update decreases the chances of missing important communication.

06. Boost Team Productivity by 20%

Higher team productivity is the ultimate goal of every business owner. Improving team productivity is not a cup of tea, however, it is not that hard. Anyone can do that with corrective measures, and the right technology. As a business owner, you need to focus on simplifying your business workflow, and automating repetitive tasks.

Example: HR department spends hours every week manually tracking employee attendance and leave requests. This manual tracking is prone to errors. It also keeps the team away from doing strategic work.

How to Fix It: Automate your attendance and leave tracking process with correct tools. You need to focus on using a project management tool that offers built-in attendance tracking and leave management.

Also Read – Why Your Business Needs Attendance Management System

07. Increase Resource Utilization by 15%

As a project manager, you need to ensure that your team members are working on the right tasks at the right time. Imagine a situation where one team member is overburdened, and the other team member having the same skillset is underutilized. This is a nightmare for any business. It affects the quality of work.

Example: A graphic design firm has two designers. One is having multiple projects, while the other has a light workload. And the worst part is that the first one isn’t aware that their teammate is struggling.

How to Fix It: You need to have a clear view of your team’s workload. A task management tool that shows who is assigned to which tasks can help you smartly balance workload.

08. Improve Risk Management by Identifying 80% of Potential Issues in Advance

This is one of the most important project management goals. Good project managers don’t just react to problems, they see them coming. A goal to improve risk management means you’re building a robust business.

Example: A product launch is delayed because a key supplier suddenly shut down. If there was a task to check regularly with the supplier in project planning, it could have been avoided.

How to Fix It: Risk management should be part of the regular project workflow. A project management tool lets you create tasks for risk assessment. You should assign them to team members, and set reminders. So potential problems are flagged and addressed before they can derail your project.

Also Read – 20 SMART Communication Goal Examples For Work

The Right Tool Makes the Difference

You’re a business owner with a lot on your plate. You need a system that helps you achieve these project management goals without adding more work. That’s where a great project and task management solution comes in. By using a simple, effective tool, you can set these powerful goals and actually achieve them.

You can consider a robust platform like TaskOPad that is easy to use and gives you a clear overview of your entire business from a single dashboard. This is how you stop just managing projects and start strategically growing your business. You can start your 15-day-free trial or book your free demo to see how TaskOPad can completely change your business workflow by bringing productivity and higher revenue.