Have you ever worked on a project where you have come across various challenges, of which almost all of them require a different approach to encounter?
If Yes, this blog will help you solve those challenges and help you make project management a known territory.
So in this blog, we will be talking about -
- What are Project Scenarios?
- Benefits of Project Scenario Analysis
- How Scenario Analysis helps in the project management
- Different Scenarios in Project Management
So before starting anything, we first need to know that what are project scenarios?
A Project Scenario can be easily defined as the rough estimate made regarding project status and completion.
For example, you have mentioned that you will complete 50% of your project by this date, or by this date, you will complete the project. But in most cases, these assumptions were not gone as they planned it to be, which create chaos and negatively affect the revenue for the project.
Benefits of Project Scenario Analysis
And to encounter this chaos, project coordinators and managers use project scenario analysis as with project scenario analysis –
- They could evaluate the possible outcomes, as they can calculate what changes could be made in the project cost if certain variables would be changed, which help them encounter the more significant uncertainties that will occur in the project life cycle.
- A Project Manager or a Coordinator can improve the project predictability as with every passing stage in a project lifecycle; there will be more questions related to how a project will be handled that make the project manager more informed, which helps in predicting the project lifecycle.
- With project scenario analysis, a project manager or a coordinator can evaluate the effect of a change in the main element of a project. This is the essential thing in a project, as in most cases, there is no backup plan or backup element for the main one, which ultimately results in the project getting delayed, and in some cases, it even got failed.
How Scenario Analysis help in Project Management?
With project scenario analysis, a project manager can rapidly make more accurate decisions and predict their outcomes.
A project manager is always judged on specific criteria like how well he manages the changes, how he manages the uncertainties in a project life cycle, the impact of certain events in a project, and the actual project plan’s deviation.
And with the help of scenario analysis, a project manager will manage these events and uncertainties and ensure that the contingencies could be made on time.
Different Scenarios in Project Management
While managing a project, the project manager came across many different scenarios that they are not familiar with and might face the first time in their project management journey, irrespective of their experience.
- In some cases, the client doesn’t respond after the statement of work has been signed. The sales team associated with the client reaching out on different channels, calling them personally, texting them on LinkedIn, and whatnot.
- Instances in which the client cannot provide the accurate requirements even after multiple project kickoff calls result in a delay in the project completion deadline.
- n many cases, the technical team gives some unattainable deadlines. It is a project manager’s responsibility to ensure that cross-questions and hard questions will be asked from the team to justify the deadline for a projection completion before presenting it to the client. And for that, a project manager must act as an end client for the project team, which helps them not provide the wrong information and faulty deadline with the actual client.
- In some projects, the project’s deadline will going to be missed or is already missed, in which the project manager should always be ready with the backup plan to fill all the roadblocks in the project completion journey. As the Project Manager must make sure the project deadline should not be missed, and to make it happen, a project manager should regularly check with the project status, give daily reminders to the team about the project deadline, and conduct multiple demo sessions internally before presenting the project to the client.
- In some cases, the team is not skilled as required by the client, which badly affects the project deadline and success rate. The project manager’s responsibility is to choose a team that possesses the required skillset and contributes positively to the project’s success.
- The communication gap is also a significant challenge that came across the project manager. In a single project, multiple teams work side by side, and a communication gap can happen at any point in time. And it is where the project manager needs to play his part a make a communication bridge between the teams so that they could be on the same page and contributing to the project’s success.
Some of the principles of scenario planning have significant benefits. A project manager must work according to the project scenario analysis and help the organization complete the project with limited resources, which impacts positively on a project manager’s career.