Our working practices may have changed, but often our approach to project management hasn?t.The UK?s Office for National Statistics (ONS) has released figures that show that UK productivity lagged behind every G7 advanced economy bar one last year. It estimates that output per hour and output per worker were 20 per cent lower than the average achieved by the US, Germany France, Italy, Japan and Canada. The ONS goes on to say that this marks the widest productivity gap since figures began in 1991. So what?s the missing link? Effective management of projects and resources is key. As traditional project portfolio management (PPM) continues to evolve, capturing and reporting on projects and ongoing work processes is critical. The day-to-day work that employees contribute is the energy on which businesses across the globe run. It consists of everything from tasks to meetings and other daily communications. However, the largest portion of this daily work is not currently being addressed. Managing an effective workload Businesses are increasingly sharing resources and collaborating across projects, teams, departments, and geographies, and it is important to understand how this work impacts the organisation outside of traditional projects. No matter how they work, companies must adapt and evolve to in order to move their businesses forward given the realities of limited resources. To be able to manage their workloads effectively, a productive business needs to achieve a motivated team, easy collaboration, smooth communication, and get things done on time and within budget. When balance is achieved, productivity increases. But, if just one of those elements slips, the balance is disrupted and chaos follows. In another recent report on Britain?s Productivity, workers in the UK are 30 per cent less productive than in other countries including Germany, France and the U.S., due to insufficient investments in technology and poor management. That?s a pretty significant gap and, while it obviously will be of concern to UK business, is also an opportunity to change for the better. Read more about making your business more productive:
- Managing performance: 4 ways to guarantee success
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- Here’s how to work at peak performance
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