How Product Strategy and Project Management Tools Align
- Project Management

How Product Strategy and Project Management Tools Align

Finding the right product strategy and project management tools proves essential when companies take on large or long-term projects with many moving pieces. In addition, many businesses rely on extensive project management teAs a result, many ques to support their business product strategy.

Project Management Tools to Consider

Finding the perfect project management tools to suit specific needs might mean trying out different options until a clear winner appears. So take a look at this list and consider these options as a starting point.

PERT Chart

The Program/Project Evaluation and Review Technique, or PERT for short, is a visual tool that allows individuals to organize various tasks and their timelines while also identifying less complex yet time-consuming tasks.

Pros

  • Helps implement a complex number of strategies on different timelines
  • It’s a straightforward, easy-to-learn tool
  • Lends itself well to projects that have unpredictable progress
  • Visualizes a high level of interdependence between projects

Cons

  • The analysis necessary to create a high-functioning PERT chart requires a bit of time and effort, which gets expensive if the chart needs consistent updating.
  • PERT charts are best for time-focused planning, which means that another planning tool works better for projects where tracking resources is the highest priority.

Gantt Chart

A Gantt chart seeks to lay out project tasks in a linear fashion using bars. A Gantt chart puts each task in its box and connects them using arrows to mark dependencies. They are a solid way to track project status at a glance and allow individuals to set and adjust deadlines easily.

Pros

  • A Gantt chart makes it easy to adjust timelines
  • It creates an easy-to-read visual
  • It makes it easier to assign various tasks to different individuals and teams with varying levels of detail

Cons

  • Requires a bit of labor to set up, and a more detailed understanding of the exact tasks for the project

Network Diagram

A network diagram looks visually similar to a PERT chart but tends to scale more efficiently.

Pros

  • A network diagram works wonderfully for planning out all of the tasks involved in a project, including finding the most critical components and identifying acceptable delays.
  • It can change shape with the ongoing project progress and accommodate delays without needing massive updates.

Cons

Conclusion

The strategy and tool best suited for a particular project depend on the needs of that project and how a team uses it to succeed.

A PERT chart is perfect for tracking timelines. A network chart works very well if the project needs many updates. Another option is the well-known Gantt chart, which provides a status update for a project almost at a glance.

How Product Strategy and Project Management Tools Align

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