4 Steps to Getting Your Projects Done Faster and Within Budget

I was recently talking to a business owner who was struggling to meet his project deadlines. No matter how hard he tried, it seemed like every project he took on over the past few months ended up way over budget or late.

When I delved a little deeper into the problem, I realized that he didn’t have a good process to handle projects—and therefore often missed key steps that cost him a lot of time and money. And if my 25 years of business coaching has taught me anything, it’s that he’s not alone in having this problem. So today, I want to share four steps you can take to start getting projects done faster and within budget.

1. Decide on your KPIs.

Starting a new project is always exciting—and if you’re like most business owners, you love the thrill of a new adventure. You enjoy dreaming up the creatives, sketching the broad strokes, and envisioning what the end result will be. That’s the fun part.

But without tying actual numbers to the project, you’re likely to fall short. So, the first step in any project is determining your key performance indicators (KPIs). Are you looking for more website traffic, leads, sales, improved customer service? Clarify the end goal and how you’ll measure success—this is the most important first step.

2. Map out the process and flow.

With your KPIs in place, it’s time to think about the process and flow. This is part vision, part reality check. How will you get from point A to point B? What steps need to happen to meet your goals? Is it building a new website? Revamping your sales process? Opening a new manufacturing facility?

Put it all down on paper, then review the flow to make sure it’s logical and achievable for your team.

3. Determine timelines.

Now that the steps are laid out, it’s time to create a realistic timeline. Account for scope creep and time for discovery phases. Set milestones so the team knows what should be done by each checkpoint.

Also, take note of dependencies—steps that rely on other people or teams. These can greatly impact whether your project finishes on time.

4. Delegate who owns each step.

Finally, assign responsibility. Delegate each step to a specific team member or outside party. Be clear on who owns what and who’s completing which part of the project. A manager might oversee a section, but individual tasks may be split among others—clarity is key.

With these four steps, you can start projects off on the right foot and measure progress along the way. After completing a few projects using this method, you’ll begin to see patterns, identify pain points, and understand why past projects may have missed the mark.