Maria Waida
Maria is a freelance content writer who specializes in blogging and other marketing materials for enterprise software businesses.
A linear schedule is a project management tool used to present a schedule in two dimensions, such as time and distance. This is normally used for projects with linear construction properties or repetitive tasks, such as the construction of roads, bridges, and railways. In this article, we will explain what the linear scheduling method is, how it benefits projects, and how to execute it. Keep reading to discover linear scheduling examples and tools you can use to perfect your next project plans. Linear scheduling method explained The linear scheduling method is a process for developing project schedules that take into account the various elements of a work that are linear, continuous, or repeated. Most commonly used in construction management and engineering, the quantity of work performed on a project is used to determine the duration of a work relationship and the work rates for each crew member. Although the term “linear scheduling” is often used to describe the steps involved in preparing linear schedules, it can also be referred to as the development of a graphical representation of a project schedule. You may also hear the linear scheduling method referred to as “time chainage” or “line-of-balance”. The various elements of the linear schedule are represented on a grid with coordinates that define when and where the work begins and finishes. A range of display methods is also used to present the varying activities in different formats. What benefits does a linear schedule provide to a project manager? The linear scheduling method is simple. Not only is it easier to read, but it’s also easier to organize. It’s helpful for communication. Contractors, stakeholders, and clients can understand your project plans from this information alone. It covers everything they need to know about what’s needed, where and when the work will take place, and how productive the work will be. Linear scheduling mitigates risk. Project managers can easily monitor and report on the various activities that occurred during the execution phase. Even if unforeseen circumstances happen during the execution phase, this can be easily revisited to improve the project's productivity using this method. It’s flexible. The time-location chart is useful for extending project benchmarks as needed because it provides a list of the factors that can affect the project's schedule, so you know what to expect. The linear scheduling method helps inform decision-making. This method helps the project manager identify and take action on the lapses that occurred during past projects. It also helps with preventing them from happening again. It uncovers task dependencies. A time-location diagram is a great tool to visualize the various interrelated activities in a project. It can help you understand the sequence of activities and their importance. For example, in construction, the arrival of material at a site may cause delays in the mobilization of heavy equipment, resulting in costly downtime if not forecasted. Which industries use linear scheduling? Linear scheduling is most commonly used in the construction industry for straightforward projects such as standard pipelines, highways, and railroads. However, any industry with projects that have linear continuous and repetitive tasks can take advantage of this method. It’s also effective for managing compliance and continuity across repeat projects. Linear scheduling method in construction management For construction management, this method involves repeatedly running a set of projects in each location for the duration of the work. Some examples of prominent projects that use this method include highway construction and airport runway projects. One of the most important factors involved in planning a linear construction project is ensuring that the work of the crew does not interfere with the activities of other workers. It’s important to note that traditional planning and scheduling techniques commonly used for linear construction projects do not account for the various factors that affect the planning and scheduling of such projects. Other methods, such as line-of-balance and vertical production methods, are often used to improve the planning and scheduling techniques for linear construction projects. Linear scheduling examples Tunnel construction with the linear scheduling method [caption id="attachment_471943" align="aligncenter" width="772"] Source: James Wonneberg, PE, CCM via Slideshare[/caption] The x-axis depicts the location between the two main construction points of this project. The y-axis represents the time period over which the work will take place. Project phases are color-coded in orange, blue, green, and red for easier interpretation. Notice how each of the tasks is associated with location and time. For example, during Q2 of 2017, tunnel site 10+00 will be prepped. Then, in Q3 of 2017, tunnel site 10+00 will be constructed while tunnel site 110+00 is prepped. Not only is this easy to understand at a glance, but it also gives individual team leaders a solid understanding of expectations, deadlines, and tasks that need to be completed by their group. Building a road with the linear scheduling method [caption id="attachment_471949" align="aligncenter" width="801"] Source: Columbia University[/caption] In this linear scheduling method example, “A” represents the beginning of the road, and “E” represents the end of the road. The lettered segments each represent a different section of the road that will be built in order. The numbered bars correspond with a different repetitive process associated with this example road’s construction, such as prepping the site and pouring concrete. As you can see, each road segment will repeat the same set of repetitive tasks. After tasks one and two are completed on road section A, section B begins the same list, and the pattern continues onward. This super simplistic model may need a corresponding document to explain the task lists and locations, but it does visualize the big-picture aspects of the project while also being actionable. Why choose Wrike as your linear scheduling software? Wrike is a project management tool designed to streamline repetitive tasks and maximize productivity. Once you have your linear schedule in place, you can effectively execute it with Wrike using our Recurrent Tasks, Project Schedule Template, and Automation Engine features. With Recurrent Tasks, project managers can easily create and duplicate tasks assignments complete with estimated timelines, important details, and assigned team members or approvers. And when you opt for recurrent tasks to be created monthly or yearly on a specific day of the month, you can choose to automatically reschedule the task if this day turns out to be a weekend which saves time you would spend combing through calendars to triple check dates. In Wrike, the Project Schedule Template gives managers the ability to duplicate project plans from previous engagements. Not only does this save time, but it also ensures that projects remain compliant. And if you need to customize any of the details, Wrike makes it easy to do so. And finally, Wrike’s Automation Engine automatically updates and simplifies processes. It works seamlessly with existing rules to enable users to easily modify and streamline their actions. It also notifies when project obstacles appear and manages your team's timeline with custom reminders and notifications about overdue tasks, task dependencies, and when it’s time to move on to the next step. Ready to maximize the power of the linear scheduling method? Get started with Wrike’s two-week free trial.
Payroll processing mistakes are often completely preventable. Even in the worst-case scenarios, there are ways that accountancy firms and HR professionals can solve issues and keep everything all running smoothly . In this article, we’ll provide you with a deep understanding of why efficient payroll processing is important for your business. We’ll also detail common payroll errors and what steps can be taken to improve the payroll process, along with how Wrike can help. What is payroll processing? Payroll processing involves entering payroll data into payroll software so that employees can get paid. This procedure involves handling various tasks such as calculating wages, processing payroll taxes, and producing checks or facilitating direct deposits. If you're a small business owner, you most likely handle payroll yourself. However, as the number of employees increases, you may want to hand this task over to a HR manager or an accountant. Larger businesses and corporations hire accountancy firms and HR professionals to manage payroll processing. It helps to involve experts in your payroll process because, aside from keeping track of all of the necessary details, their work will also help the company avoid getting into legal trouble. Common payroll errors Not tracking employee hours and overtime At first, it seems like a simple process to track employee time. Just enter the hours they worked and turn them in at the end of the week or month and pay them accordingly. Unfortunately, the process is much more complicated than that. Tracking both your employees' and managers' time is very helpful for businesses. Timesheets and time cards are often the tools businesses use to measure how efficiently they use their employees. It can help them improve margins, bid projects, and overall business performance. Not meeting deadlines Not meeting deadlines in payroll processing is more common than you may think. Although different states have different time frames, the basic rule is that payroll errors should be paid promptly. Doing so can help avoid penalties and minimize the risk of overpayment. Not being able to meet a deadline can damage an organization's reputation and affect employees' payment. Having a good payroll schedule is also important to keep employees' trust. Miscalculating overtime is a big payroll deadline issue. With all the various deductions and commissions that come with overtime, payroll administrators have their work cut out for them. When it comes to overtime, the general rule is that employees should be paid 1.5 times their regular wage for work that exceeds 40 hours in a workweek, but individual companies may have their own policies. Poor time tracking software can also contribute to overpayment or underpayment. A payroll correction is also required when an adjustment is needed to be made to a payroll amount and may take longer than anyone would like. Not reporting all forms of taxable employee compensation Employee pay includes more than salary, overtime, and bonuses. Generally, you must report these forms of compensation to the IRS. The biggest issue with this is forgetting to detail smaller exchanges that are outside of the standard salary or hourly payment. For example, not reporting sales incentive gifts, even if it’s just a $25 Starbucks gift card, to the IRS may result in penalties and tax liability for your organization. Employee misclassification Employee misclassification is one of the most common and costly errors. Not only can misclassification affect an employee's wages and benefits, but it can also cost the government valuable tax dollars, resulting in an audit. For example, if your company works with freelancers or independent contractors, ensure that they are not misclassified as W-2 employees. Poor records management Having incomplete or inaccurate records is a costly expense that many companies face. Record keeping is a vital component of payroll management. It’s also a must-have when filing taxes. Having an efficient record management solution in place can prevent many errors from happening, such as payroll miscalculations and tax filing delays. It sets the foundation for success and plays a large role in preventing other payroll processing mistakes from happening. Consequences of payroll errors Every mistake made during the payroll process must be corrected to ensure that the correct records are kept. The IRS also has to know exactly how much money was allocated for each employee. In some cases, it can take longer to resolve errors than initially thought, as identifying and fixing these errors can be challenging. Most of the time, it is difficult to ensure your payroll process complies with all the laws governing a business. However, with the right systems and software in place, you can avoid getting caught in a situation where you have to pay a large sum of money or face other repercussions. When people work for you, they may be classified as employees or contractors. You may be responsible for paying them for various expenses, such as overtime. If a worker has been classified as an independent contractor, your company may have to pay back taxes and provide retroactive overtime pay. This can also be costly. Also, employees expect to be paid on time. When the money is not delivered as expected, it can greatly affect their lives and cause them to feel dissatisfied with their work. Some employees may choose to leave when payroll errors occur. As a result, this can lead to higher turnover rates and cost the company more than it intended to. How to correct payroll errors A smooth payroll process is one of the most important functions in a business and it can help keep employees satisfied. Although there are varying legal time frames for states, generally, it is the law that states that payroll errors should be corrected promptly. Doing so will help avoid getting hit with any penalties. Having the proper payroll software and a project management tool can help prevent payroll mistakes from happening. These systems will help you track all of your employee’s professional services, organize and assign payroll-related tasks, and they’ll save time on manual data entry and evaluation. Tools like Wrike also allow employees to track their hours and overtime directly on the platform. Most payroll mistakes can be avoided with proper planning and education. Unfortunately, there are many places where payroll mistakes can occur. Most of the time, payroll errors happen because the payroll admin doesn't have the necessary information to properly handle the payroll process. Doing some basic research on the various terms and classifications of employees can also help avoid making mistakes. Having a few reports running before payroll can also help catch potential mistakes or prevent them from happening. A payroll checklist is another helpful tool to keep track of all of the steps in the process. Your administrators can use it to keep track of all of the details and ensure that everything is accurate. Another way to correct payroll errors is to keep a list of all the changes made during a given pay period. This will help ensure that the system is up to date. If you have already processed an incorrect payment, then it is important that you immediately report the issue to the federal and state entities involved. If the payroll error is small, you can either immediately cancel the payroll or run a manual payroll. Steps to streamline your payroll process 1. Spring clean existing records From the start, gather all the details about the employees, including their Social Security numbers and any other factors that affect their paychecks. Use a project management system to create a single file that will keep track of your employee's personal details. 2. Consult available experts If you have any doubts about the accuracy of your payroll deductions, talk to a bank representative. Some banks even offer workshops to help small-business owners get started with payroll processing. Your accountants can also help you with payroll tasks and give advice on how to improve your productivity. And if your business is a corporation or an LLC, you can also get a list of forms and due dates from your state tax agency. Hiring a payroll consultant is another great way to get started. They can help you get started by reviewing the books and creating a system that's personalized to your needs and easy to use. 3. Capture all facets of employee compensation Aside from keeping track of employee hours, a payroll system can also help you manage various factors such as employee contributions, 401K plans, and wage garnishments. Having a system that's adaptable to potential future payment types can help you get started. Remember that as you grow, it's important to keep up with the payroll requirements to accommodate the additional employees. 4. Automate alerts Most payroll software has alarms and other warnings that can help you avoid missing important details. For example, suppose you forget to withhold taxes on any employee who earns more than $600 a year. In that case, your company could be responsible for the underpayment, so having an automated alert attached to this task is a must for accountability. 5. Use separate accounts Instead of using the company's operating cash, establish a separate payroll account specifically for paying taxes, compensating employees, and other payroll expenses. Your bank representative can also help you keep track of all your payroll details between the various accounts. 6. Solve problems quickly If the IRS or another agency informs you that money is due, don't delay to resolve the issue. It can cost you money in interest and penalties. Even if you're not a certified public accountant or a business major, hiring someone to help you set up a payroll system, for this reason, is a good idea. How Wrike can improve your payroll processing services Wrike offers accountants the tools they need to manage their work seamlessly all year round. With Wrike’s features, accounting firms and teams can easily collaborate with their employees and managers to deliver better results. Here are some of the many ways we do it: 1. In-app time tracking Swap complex spreadsheets for a simple and secure time tracking software like Wrike. Wrike's pinned timer eliminates distraction and helps hourly employees keep track of all their task start and end times, which they can pause and resume when needed. 2. Timelog view Create or double-check billing using Wrike’s accurate Timelog View. Timelog view allows you to see all time entries added to tasks in certain folders, projects, or spaces and is completely customizable. 3. Task duration measurement Wrike allows users to keep track of all of their project and task durations in one central location. It will also give you insight into how things went, as well as what lessons were learned. 4. Color-coded calendars Pull historical data from Wrike’s calendars to cross-check data entry. Color coding makes them easier to understand at a glance and is especially helpful for teams managing multiple types of billing structures, including milestone billing. 5. Gantt charts Wrike’s Gantt charts are a great way to manage payroll projects. They allow you to track progress, communicate deadlines, and organize all other related details within a searchable file system. 6. Customizable payroll templates Wrike Blueprints is a tool that helps you organize and track all of your professional services and projects with recurring tasks, such as weekly salary calculations. Blueprints are template documents that allow you to create new work items and keep track of all your changes. They can also be used to create new payroll projects that need to follow payroll compliance or have a specific workflow. 7. Integration with Microsoft Teams With Microsoft Teams integration, you can easily create and respond to Microsoft forms payroll and add new employee data to them without having to duplicate data entry. 8. Integration with Zendesk Wrike's integration with Zendesk allows you to record all tickets assigned to a specific employee and add them to to-do lists. 9. Workload management Wrike's workload charts help you keep track of how much work is being done and how long it takes to complete it, which is useful for pulling historical data when a payroll error has occurred. 10. Shareable reports Reports in Wrike are built-in record analyses that allow you to gather data from your time logs, spreadsheets, and other important payroll data tools. They automatically update to include the most up-to-date information. Ready to turbocharge your payroll processing to avoid common mistakes and improve your business? Get started today with Wrike’s free trial.
Businesses that effectively use inventory management are destined to succeed. With the help of inventory management software, companies can automate the process of ordering, storing, and optimizing their goods in a single place. In this article, we will expand on the importance of inventory management, as well as the different inventory management techniques, benefits, and examples managers need to know. Keep reading to learn the key to inventory management that will give you a competitive edge. What is inventory management? Inventory management refers to the process of storing, ordering, and selling of goods and services. The discipline also involves the management of various supplies and processes. One of the most critical aspects of inventory management is managing the flow of raw materials from their procurement to finished products. The goal is to minimize overstocks and improve efficiency so that projects can stay on time and within budget. The proper inventory management technique for a particular industry can vary depending on the size of the company and the number of products needed. For instance, an oil depot can store a huge inventory for a long time. Or for businesses that deal in perishable goods, such as fast-fashion items, keeping on top of your inventory can be very costly. One way to account for inventory is by grouping it into four categories: first-in-first-out, last-in-first-out, weighted-average, and first-in-first-out. Raw materials are the components used by a company to make its finished products. Depending on the type of company that it is dealing with, different inventory management methods are used. Some of these include JIT, material requirement planning, and days sales of inventory. Other methods of analyzing inventory can also be used depending on national and local regulations. For instance, the SEC requires public companies to report the existence of a so-called LIFO reserve. Having frequent inventory write-offs can be a red flag that a company is struggling to sell its finished products or is prone to inventory obsolescence. Learn even more about inventory management from Walton College’s Supply Chain Management program’s introduction on the subject covering everything from forecasting to point models: Why is inventory management important? One of the most valuable assets of a company is its inventory. In various industries, such as retail, food services, and manufacturing, a lack of inventory can have detrimental effects. Aside from being a liability, inventory can also be considered a risk. It can be prone to theft, damage, and spoilage. Having a large inventory can also lead to a reduction in sales. Both for small businesses and big corporations, having a proper inventory management system is very important for any business. It can help you keep track of all your supplies and determine the exact prices. It can also help you manage sudden changes in demand without sacrificing customer experience or product quality. This is especially important for brands looking to become a more customer-centric organization. Balancing the risks of overstocks and shortages is an especially challenging process for companies with complex supply chains. A company's inventory is typically a current asset that it plans to sell within a year. It must be measured and counted regularly to be considered a current asset. What is the goal of inventory management? The goal of any good inventory management system is to help warehouse managers keep track of the stock levels of their products. This means allowing them full transparency into their chain to monitor the flow of goods from their supplier. The benefits are both operational and financial. Not only will it serve to improve performance, but it’s also useful for preventing theft with the help of product tracking and security. Managers can also aim to use their inventory management plan to monitor sales procedures which leads to better service. Inventory management is especially useful for businesses that want to effectively manage seasonal items or new bestsellers throughout the year without disrupting the rest of their chain. Benefits of inventory management The main benefit of inventory management is resource efficiency. The goal of inventory control is to prevent the accumulation of dead stocks that are not being used. Doing so can help prevent the company from wasting its resources and space. Inventory management is also known to help: Order and time supply shipments correctly Prevent theft or loss of product Manage seasonal items throughout the year Deal with sudden demand or market changes Ensure maximum resource efficiency through cycle counting Improve sales strategies using real-life data Inventory management system examples Although inventory management can change from industry to industry, there are some big-picture themes worth learning about. Here are three major retail categories with real inventory management system examples: Grocery store chains Modern groceries have managed to manage inventory coming in from different suppliers all over the world. Giving consumers several different types of internationally-grown produce in both organic and non-organic varieties at an affordable price, even when the fruits and vegetables aren’t in season, is a modern marvel thanks in part to inventory management. Overseeing stock in real time and even setting up automated replenishment systems is mission-critical to many. Online retailers On average, Amazon ships approximately 1.6 million packages from their brand to third-party sellers per day. Their Smart Warehouse uses robot and human help to get the job done, but it’s inventory management that keeps it all rolling. According to Tech Vision, “Amazon’s management technique, along with all that automation, have made the business astonishingly lean and mean by historic standards.” Toilet paper companies The inventory management of toilet paper companies was in the hot seat in early 2020 as panic-buying led to shortages nationwide. As demand outgrew supply beyond anything the brands had seen before (about 845%), it’s no surprise why there has been an increased focus on inventory management since. Their secrets to overcoming this unprecedented event? Temporarily narrowing down their portfolio of products, sending out “defective” yet functional rolls, and even transitioning to a direct-to-consumer model, all with the help of strong inventory management systems. Steps and types of inventory management Most product inventory management systems follow the same basic steps for finished products: Products arrive at your warehouse Products are checked and stored Managers or crew update inventory levels Customers place an order Customer orders are approved based on inventory Products are pulled and packaged Inventory levels are updated again This process is fairly straightforward and often involves help from software. There may be variations depending on what type of inventory management you are doing. Here are the main types you should know: Raw materials This refers to pieces of your product that need to be shipped to you and assembled by your team. Inventory systems that track these must account for supplier timelines. In progress Products made from raw materials and are currently being assembled or grouped fall under this category. This stage of inventory management may have one or several active projects at a time. Repair Scheduled maintenance, updates, and refurbished goods all count toward this segment. Repairs may be handled in-house or in collaboration with a third party. Finished goods Any good that is ready to ship to businesses or consumers is considered finished. These need to be updated regularly and constantly monitored to meet demand. Inventory management techniques Without accurate inventory information, it can be very difficult to make decisions that affect your business. There are two main methods of keeping track of inventory: periodic and perpetual. The main difference between these is how often data is updated. Regardless of how often you track inventory, you may want to use one of the following inventory management techniques: ABC Analysis ABC (Always Better Control) Analysis is inventory management that separates various items into three categories based on pricing and is separated into groups A, B, or C. The A category is usually the most expensive one. The items in the B category are relatively cheaper compared to the A category. And the C category has the cheapest products of all three. EOQ Model Economic Order Quantity is a technique utilized for planning and ordering an order quantity. It involves making a decision regarding the amount of inventory that should be placed in stock at any given time. The order will be re-ordered once the minimum order has been reached. FSN Method This method of inventory control refers to the process of keeping track of all the items of inventory that are not used frequently or are not required all the time. They are then categorized into three different categories: fast-moving inventory, slow-moving inventory, and non-moving inventory. JIT Method Just In Time inventory control is a process utilized by manufacturers to control their inventory levels. This method saves them money by not storing and insuring their excess inventory. However, it is very risky since it can lead to stock out and increase costs. Minimum Safety Stocks The minimum safety stock refers to the level of inventory that an organization maintains to avoid a possible stock-out. MRP Method Material Requirements Planning is a process utilized by manufacturers to control the inventory by planning the order of the goods based on the sales forecast. The order is usually based on the data collected by the system. VED Analysis VED is a technique utilized by organizations to control their inventory. It mainly pertains to the management of vital and desirable spare parts. The high level of inventory that is required for production usually justifies the low inventory for those parts. How to improve inventory management with Wrike One of the most critical factors that a company should consider is the accuracy of the information presented in its inventory databases. The data should be updated regularly to prevent it from getting distorted. Wrike is a project management solution that can help you do exactly that. With Wrike's product management tools, you can manage all of your product team's activities in one place and get the most out of every project. Wrike's product launch automation helps accelerate product launches with a streamlined approach. Managers can easily keep inventory and shipping processes in check by planning and allocating tasks to the right people all from one central dashboard. Wrike also makes it possible to create workflows that keep everyone up-to-date with the latest inventory progress. Tools like interactive charts and task dependencies help team members at every level identify and prevent delays. You can communicate with both vendors and clients through the advanced CRM built directly into the platform. Plus, Wrike's advanced insights tools allow you to track progress in real time, which is important for any successful inventory management strategy. Why choose Wrike as your inventory management software? Wrike is a project management solution that makes it possible to achieve all your inventory management goals while also maximizing the benefits of the process. Regardless of which inventory management technique you use, Wrike can help you take the process step by step to ensure your inventory is always accurate regardless of what type you’re managing. Improve your inventory management plan today with Wrike’s two-week free trial.
The 80/20 rule, also known as the Pareto Principle, states that 80% of the benefit can be achieved by 20% of the work. The Pareto analysis uses this concept to identify which parts of a project can be done efficiently and which can be avoided. It can be used to decide which problems should be solved first. In this article, we’ll explain how to perform Pareto chart analysis and how it can be used to improve any project. We’ll also get into some vital tools you can use to help teams work smarter, not harder. What is a Pareto chart? The Pareto chart is a visual representation of the most important factors in a given field or project in order to identify and prioritize issues. In general, this tool can be used to identify the most critical factors in a given product or process. For example, in quality assurance, the Pareto chart helps identify the most prevalent sources of defects. The Pareto chart itself is a bar graph with two axes. The left axis shows the frequency of occurrence, which is the sum of the total number of occurrences and the cost of doing so. The right axis shows the cumulative function of the total number of occurrences. The values for each category are depicted in descending order. And the final total is represented with a line drawn at 80% on the bar graph. Any bars rising above that line are considered the problems that, if solved, would have the biggest impact on the project. The Pareto chart can be generated by various means, such as creating Excel spreadsheets, statistical software, and online quality charts. What is a Pareto chart used for? A Pareto chart helps you identify the causes of the various problems and the issues that need to be solved to get the most significant improvement. Here are some of the many ways it can be used: Visually represent project issues to find which have the greatest impact Communicate priority levels to stakeholders Isolate individual process hiccups so that they can be better understood Find the most impactful problems and eliminate them before they cause issues Reallocate workloads so that team members companywide are maximizing their impact and productivity When to use a Pareto chart in project management A Pareto chart is a tool that many people use to analyze different types of problems. It can also identify the most significant issues in a process. In project management, this means everything from big-picture project phases to individual task workflows. When roadblocks come up, managers can use the Pareto analysis to quickly identify what is causing bottlenecks or delays. From there, they can use their project management tool to delegate troubleshooting, adjust task lists, or shift priorities without interrupting the entire project. In addition to making on-the-fly decisions based on real evidence possible, Pareto charts can be used in project management for post-project analysis for both PMOs and stakeholders. Teams can learn from each other and what went wrong in projects with data clearly laid out in this way. In the future, they’ll be able to replicate their successes and mitigate failures. Stakeholders can easily pinpoint areas of investment that worked out and learn more about how this project was managed so they can feel good about the outcome. In particularly successful works, they’ll be able to see how little interference the project encountered along the way. Or they can see how well the team managed issues that did arise. This persuasive tactic allows them to feel great about providing repeat business or, at the very least, enrich their understanding of key projects related to their goals for future reference. How to calculate Pareto analysis The simplest formula for calculating a Pareto analysis is as follows: [Your total unit of measurement per item, e.g., number of occurrences, hours, cost, etc.] / [the grand total of all items] x 100% Use this formula for each category. Keep in mind that each result should be a percentage. Afterward, put them in order from highest to lowest before inputting them into your chart-making software. How to create a Pareto chart Step 1: Collect your data A minimum of 30 data points is best for an accurate picture of the project as a whole. Step 2: Create a frequency table Use the following headers in this order: Issue Type Number of Occurrences (listed in descending order) Note: Some programs will automatically generate a Pareto chart for you once you’ve added the number of occurrences or frequency for each issue category. The rest of your headers may be calculated for you, again depending on the program you’re using: Cumulative Total Cumulative Percentage 80% Cut Off Step 3: Label your chart Keep it simple. You can never go wrong with “Types of Project Errors.” Freel free to add a single sentence description that includes the time period of your measurement and any other details that are important to the people you’ll be sharing it with. Step 4: Clearly label the Y-axis Frequency, total number of occurrences, or even price all work well here. Use whichever value best represents your data set or makes the most sense to you as a manager. Step 5: Note the categories on the X-axis These should match the Issue Types you first listed in your frequency table. Step 6: Interpret the chart Again, the software you use should fill in the other components of the chart, including the bars, lines, and cut-off. From there, you can get to work analyzing the results. The higher the bars are, the more of an impact they are having on your project. You’ll see percentages listed on the right-hand side of the chart across from frequency. They should be listed from 100% and counted down in increments of 10 to the bottom. Any bars that cross the 80% line should be considered a top priority for problem-solving. Pareto chart example This Pareto chart example was created by Clinical Excellence Commission and thoughtfully illustrates the key areas of focus project managers should be aware of. The areas marked in red and bold are the spaces project managers should focus on when conducting their analysis. We can also see that the categories on the bottom are great examples of types of medication errors. But project managers may use groupings such as scope creep, resource management, or communication to define a variety of issues that may come up. The most important line on this graph is the green 80% cut-off, which symbolizes the Pareto principle. Any bar that reaches above that line should be considered the most important issue. In the above chart, that would be “dose missed” at 92% and “wrong time” at 83%. Although “wrong drug” clocks in at 76%, it’s not considered nearly as important as the first two. For the next steps, the project manager in this particular example would likely solve the issues above the 80% line first before moving on to the next highest scoring category. Alternatively, they could choose to solve the above-the-line problems, then create a new Pareto chart and see if the values have changed. It’s also possible that solving the highest priority issues may fix less pressing issues on your chart down the road as a byproduct. How Pareto chart analysis can improve your project In general, the Pareto chart helps project managers and team leaders identify the causes of various problems that are having the biggest impact on their work. By figuring out what they are, managers can take the necessary steps to solve them. It’s also easier to determine task and even project or goal prioritization with a chart like this. If you’re working with third-party partners or stakeholders, the visual aspects of Pareto charts make them easy to understand and interpret. Not only is this highly effective for communicating with non-experts, but it’s also highly persuasive. How to interpret Pareto analysis with Wrike So you’ve made your Pareto charts and conducted your analysis. Now what? Put your plan into action with Wrike. Wrike is a project management solution that makes project plans manageable, efficient, and crystal clear. Now that you know what’s going wrong, you can easily add actionable next steps to your project plans without missing a beat. Start by adding a detailed task to your project. Add a description, deadline, and task owner. Wrike also allows you to see the workload of individual team members across all active projects so you can double-check they’re available before assigning it. You can also use Wrike’s custom reporting features to identify issue categories for your Pareto chart. Dissect active and past tasks to find the biggest areas in need of improvement during individual project phases or projects as a whole. In addition to Pareto charts, Wrike also offers Gantt charts and PERT charts that can improve productivity. A Gantt chart is a bar chart that shows the various tasks and deadlines for a project. It's a great tool for managing time and improving efficiency. A PERT chart is a network diagram that shows all the project tasks in separate containers. The boxes that make up the PERT chart are organized with arrows to represent the time needed to complete the task. Combining the results of your Pareto, Gantt, and PERT charts will help you turbocharge your project troubleshooting plans and may even prevent future issues too. Ready to get the biggest results from the least amount of effort? Get started with Wrike’s two-week free trial.
Need help creating the most accurate project forecast of all time? Look no further than bottom-up estimating. Bottom-up estimating in project management is a method of estimating project duration or cost by aggregating the estimates of the lower-level components of the Work Breakdown Structure (WBS). In this article, we’ll dive deep into what bottom-up estimating is, the pros and cons of bottom-up estimating, and how it differs from a ‘top-up’ estimating approach. Explore more about this effective technique, along with the tool you‘ll need to master it. What is bottom-up estimating? Bottom-up estimating is a technique that helps determine the overall cost and timeline of a project. It works by gathering all the details of a project at the most minute level. It provides a better, more accurate forecast than other project planning methods because it allows managers to see every available element of the project before it even begins. How accurate is the bottom-up estimation technique? Because the bottom-up estimation technique uses every known factor to determine the project’s needs, it is considered more accurate than most other methods. When you have all the details related to a project before you begin, it is easier to determine: Where bottlenecks may arise (and how to banish them before they do) How to overcome a lack of project resources How your team can strategically navigate this particular project This is particularly effective when starting a project that is unique or new to your team and doesn’t have historical data to pull from. Pros and cons of a bottom-up approach in project management The pros of bottom-up estimating include: Highly accurate. Laying out the project's scope can be very challenging since it involves estimating the exact details of the project and the people involved in its execution. Bottom-up estimating allows team members to see all the components of a project in one place, and it saves them time and effort by estimating separately. Saves time. By estimating the work package in advance, a manager can make better decisions and avoid costly mistakes. It also helps avoid surprises down the road. Even though there is a large time investment up front, the idea behind the method is that it will prevent wasted time down the road. Reduces risk. A bottom-up estimate allows the manager to address issues related to the estimates without making significant changes. This allows the team to avoid making significant errors. Improves success. A bottom-up analysis also allows managers to implement strategies to help the team execute the project more effectively. A comprehensive bottom-up analysis also allows the manager to identify potential issues before they occur, which allows the team to react more effectively to those that arise. Increases productivity. The team's autonomy and control are also distributed through the various members of the team, which allows them to work efficiently. Bottom-up estimating cons: Not scalable. Bottom-up estimation requires project managers to start from square one on each new project. There are opportunities to pull details from related projects from the past. But the point of bottom-up estimation is to create a forecast based on the individual components of this particular assignment. Time-consuming. The project planning work is front-loaded. It can take days, weeks, or even months to gather all the necessary information. For teams with a high volume of incoming projects or staffing issues, this may not be ideal. Slow-moving. Bottom-up estimation is typically not done in a hurry and is therefore incompatible with last-minute projects or work that has a short timeline. Bottom-up vs. top-down estimating Bottom-up estimating is different from a top-down approach. In top-down estimating, management estimates the project based on the previous work on the same or similar projects. Bottom-up estimation is ideal for unique projects or work that is unlike anything the team has done before. Top-down estimation, however, is ideal for duplicate projects, recurring assignments, or work that needs to be completed ASAP. It’s also easier to templatize past project plans in top-down estimating than in bottom-up estimating. Bottom-up estimating example In its simplest form, bottom-up estimation looks at the individual costs and time duration required for each project task. For example, let’s say you own a wedding cake bakery. The last time you gave a wedding cake quote for a three-tier and several dozen cupcakes, you underestimated the cost and lost profit on the project. Now, you’d like to better estimate a brand new order to avoid making the same mistake twice. In this scenario, you would lay out the individual components needed for each baked good. Everything from frosting quantity to hairnets is factored in. You’ll also need to account for the time it takes to do the shopping, coordinate customer service, and more. Having all of this together on one list will make it possible for you to see the entire scope of the project and provide an accurate estimation this time around. Why you should use Wrike for bottom-up projects Wrike is a project management tool that allows users to create robust yet simple bottom-up estimates for work of any kind. First, Wrike allows you to lay out all of the tasks that are involved in the project. Wrike’s task feature offers individual task due dates, descriptions, assignees, and more. Once a task is assigned to an individual team member, you can also assign approvers and factor into decision-making time to your bottom-up estimate. Instead of asking for approval from everyone, the manager focuses on getting feedback from all team members. Wrike also makes it easy to identify the various skills and people needed to complete the assigned tasks using information already stored in your dashboard. Not only will you have the most qualified team members working on the right tasks, but you’ll also be able to balance out scheduling so that no one person is bearing the majority of the workload. Finally, Wrike's Gantt Chart offers a visual view of project progress that lets you keep track of all your work's phases and dependencies. With our tools, you can set milestones, link task dependencies, and provide a clear step-by-step explanation of your bottom-up estimation to stakeholders. Ready to take your project management strategy to the next level? Use Wrike’s two-week free trial today to create a highly accurate bottom-up estimation for your next project.
Remote work as we know it will transform in 2022. With the effects of COVID-19 variants rippling worldwide, new workplace and project management trends for the year deal with a well-rounded approach to new methodologies. So take a few moments to stop worrying about today and take a peek into the future of work — you won’t want to miss these exciting predictions! How is technology shaping the future of work? The emergence of technologies such as artificial intelligence (AI) and machine learning has led to the reduction of manual tasks, which will allow employees to focus on their creativity. In order to keep up with these trends, workers will need to learn new skills and continuously improve their knowledge. Meanwhile, employers will have to strategically choose tools that are easy to master and improve productivity, despite the growing demand and complexity of work ahead. Automation and the future of work The COVID-19 pandemic has caused many organizations to rethink their operations. The need for increased efficiency without sacrificing quality will lead to an increased dependence on automation. According to Gartner, by 2024, organizations will save 30% on operational costs by combining task automation with existing processes. This is no surprise, as most organizations are already implementing more advanced automation methods such as AI. AI and the future of work AI is expected to completely transform the way project management and standard functions are performed by 2030. Not only will this make it easier to automate tasks, but it will also help employees companywide make better decisions. For example, project managers will continue to use AI-powered data analysis tools to predict project requirements based on evidence from past recorded work. Future ways of working in project management The digital transformation of project management that we’ve seen over the past two decades should be the norm in 2022. New tools and methods of working allow employees to work from anywhere, while employers benefit from the increased productivity of their workers. Online project management tools are becoming more prevalent in today's business environment. The line between home and office will blur Remember going into the office? Whether you’re fully remote, hybrid, or finally in-person again, the work sphere as we know it will continue to evolve this coming year. Office buildings are going extinct Virtual tools such as Zoom, Slack, and project management solutions will continue to make it easy to collaborate with team members all over the world. And now that companies are pulling from overseas talent, it makes sense why the need for entire buildings with multi-floor offices is a thing of the past for some brands. Working from home will be the norm The Global Workplace Analytics forecast states that “25-30% of the U.S. workforce will be working-from-home one or more days a week after the pandemic.” It makes sense considering how teams have adjusted to this style of work already. Between cost-opportunity savings, employees’ willingness to trade a commute for a pay cut, and the flexibility work from home offers, we can see how Global Workplace Analytics came to their conclusion. Workspaces will be personalized Organizations will look to technology to personalize every aspect of the office, including open workstations that will be “beamed” a worker’s lighting and temperature preferences, as well as their contacts, projects, and work files, so employees can easily move around. Offices will be less expensive to maintain Emerging Internet of Things (IoT) technologies will measure foot traffic and daily activity to turn off lights and A/C in empty rooms, tell cleaning crews not to bother with an unused conference room, and make offices more efficient. Technology moves from tool to strategic advantage Advances in technology will continue to be a huge driver of change. How we interact with our colleagues, clients, and employers is about to see a radical shift thanks to the prevalence of mobile devices, social media, wearable tech, and public health and safety concerns. You'll join a social workplace Although there was once a pronounced line between your life on social media and your life at the office, that line has blurred in recent years and will start to disappear completely as companies start implementing internal social networks like Slack and Facebook At Work. There will be an emphasis on devices According to Gartner, “Through 2024, remote workers will use at least four different device types for remote working, up from three devices in 2019.” This includes everything from phones to computers to remote employee monitoring tools. More collaboration tools will be adopted Collaboration apps, along with the remote teams they support, are here to stay, and more companies are using them than ever before. But in order to spur adoption of these tools among their teams, businesses will start emphasizing the benefits for individual employees (schedule flexibility, better recognition for achievements, etc.) over benefits to the company (greater innovation, productivity, etc.). Your own personal work assistant is coming soon Smart voice-activated assistants like Siri and Alexa are going to keep improving, to the point where artificially-intelligent assistants will be running in the background at work, learning our patterns in order to anticipate and provide the information we need to improve our productivity and work performance. Expect IoT and wearables at work Mundane tasks like starting a fresh pot of coffee or turning on lights at the start of the workday will be taken care of by IoT devices, freeing employees to focus on more creative and complex tasks. Wearables will tell employees when to take a break and which foods to avoid for better energy and focus. Companies will collect data on employee activity, mood, and habits and start to experiment with people analytics in order to determine how best to support employee performance and satisfaction — without looking like Big Brother. Work management will no longer be ad hoc It’s not just the tools and technologies we use that will change; our attitude towards work and how we approach getting it done is shifting. Over the next several years, organizations will embrace new management techniques, values, and standards in response to the COVID-19 pandemic and cultural shifts around work-life balance. Expect smaller, flatter organizations More new ventures will keep it small, with a core group of founders and key employees, and they'll hire freelancers from around the globe to fill the other necessary roles. Meanwhile, larger companies will minimize hierarchy and embrace flat management styles like Zappos' “holacracy,” giving workers greater ownership over their projects, freedom from rigid job titles and descriptions, and more input in the company’s direction. 'Entrepreneur' will be redefined As the way we take on new projects changes, so will our concept of entrepreneurship. The word will no longer primarily refer to someone who invents a new product or launches a business; it will come to include independent freelancers who team up with other freelancers, forming a temporary group to take on bigger, more lucrative projects than they could tackle individually. Experimentation and iteration will be the norm Companies will start to see themselves as laboratories, focusing less on refining the same standard processes and products and instead prioritizing experimentation and constant innovation. Slacking off? You won’t have to hide it Businesses are coming to appreciate and encourage “off times” when the brain is able to wander, explore, and later make interesting connections that lead to new ideas. Companies like Google have long encouraged and made time for employees to pursue side projects and indulge their curiosities, and that attitude will spread to companies looking to keep their employees sharp and engaged. Since we as a collective have been in survival mode for more than two years, it’s no surprise that managers are interested in helping their employees thrive now more than ever. Cross-functional and soft skills will dominate As new tools and technologies open up fresh possibilities and modes of approaching our work, the skills we'll use to succeed will become more unconventional, and soft skills will be highly sought after. The gig economy will bring new opportunities Some of the most in-demand skills for the next decade revolve around the emerging "gig" economy, like personal brand coaches who help freelancers and consultants market themselves, and ‘Tribers,’ who work with companies to assemble the perfect teams for specific projects. Even teachers and professors will go freelance, choosing to work for one of the many on-demand, online learning platforms. You’ll be updating your resume more often The days of spending your entire career at one company, painstakingly working your way up the ladder to the corner office, are gone. In fact, a recent study shows “Generation Z (those born between 1997 and 2012) plans to move on from their current employer in three years or less, and only one in four plan to work for an employer for five years or more,” which means short-term gigs are here to stay. The new norm will be to work for a company for a handful of years, gain experience and skills, and then move on to a new opportunity. It'll no longer be enough to master one skill and use it throughout your career — you'll need to master several and be able to switch between them. Highly specific "nanodegrees" that take a year or less to earn will become increasingly popular, and both companies and employees will learn to adapt to higher turnover rates. You'll need to master remote work You’ve seen the statistics — with 80-90% of the workforce stating they want to telecommute at least part-time and 50% stating they already do, remote work is here to stay. But over the next several years, we’ll refine our approach to remote teamwork in order to better recreate the genuine social connections and collaboration that, as of now, we can only get at the office. Companies will be remote by default Instead of established companies embracing some remote teams or employees telecommuting occasionally, companies will be built remotely from the get-go. Everyone meeting face-to-face will be the exception, not the norm, as companies embrace the technology that allows them to hire talent wherever it happens to be located. You'll redecorate your home to accommodate work Many homes have an open floor plan, which isn't usually conducive to focusing and getting work done. With more people working from home, telecommuters will start creating spaces within their homes for work. Culture will define company success Flexible hours, remote work, and the need to keep talented workers engaged over the long term will lead many organizations to spend more time and resources creating a company culture that makes employees want to come to the office. Colleagues will become members of a community In a time where “85% of employees are not engaged in the workplace”, the question is more commonly not how to hire the best talent but how to keep them. Companies will focus more effort on creating a tangible and genuine sense of community, which excites its employees and compels them to stick around. Circular evaluations and feedback are coming Performance reviews are going away as companies phase them out in favor of more flexible means of giving and receiving employee feedback. Organizations will place greater emphasis on coaching, skills development, and letting employees set their own goals, as well as gathering internal feedback on an ongoing basis so that everyone in the company is focused on improvement, from the CEO down. And don't forget: New employee perks While health insurance, paid vacation, and other typical benefits won't go away, more companies are adding personalized perks that stress their company's unique culture and their employees' personalities. They're rethinking standard benefits to provide what their workforce really wants, like paid parental leave, ongoing learning opportunities, and helping employees repay student loans. Organizations will prioritize diversity Facebook and Pinterest require that at least one woman and one underrepresented minority be considered for every open senior position, and Twitter and Pinterest are making their hiring goals public for greater accountability. More companies will follow suit as they become increasingly intentional about cultivating diversity on their teams, and they'll implement measures to counteract unconscious bias, like “blind” interviews where candidates and interviewers can’t see each other or their voices are masked. Hiring managers will look for culture fit... For your next job search, experience, diplomas, and GPAs will start to take a backseat to your drive, goals, and willingness to learn. Essentially, do you fit with the company culture? You also may be able to BYOP (Build Your Own Position), focused around your specific interests and industry, developing a relationship with a company first and then creating the right role from there, rather than applying for a specific open position. ... And you'll be choosier about accepting jobs Compensation will no longer be the top consideration. As people look for jobs that fit in with their lifestyle, values, and professional goals, organizations will adapt by fostering a sense of purpose for employees — although what that looks like can be difficult to discern (and even more difficult to deliver). Ready to put these cutting-edge trends into practice? Get a jump-start on your 2022 project management with Wrike’s two-week free trial.
2022 will demand deeper HR action on employee wellbeing, even more so than 2020. In this article, we’ll explain how the employee lifecycle model can improve the employee experience and why project management may just be the key to perfecting your company’s lifecycle strategy. Keep reading to discover how to help breed longevity, success, and excellent employee engagement with just a few simple tools. The employee lifecycle model explained The employee life cycle is a conceptual framework that explains the various stages of a worker's career. It helps track the employee's progress through various stages and provides employers with an opportunity to analyze data. This tool also visualizes the different stages an employee goes through during their time at an organization, from initial awareness to the day they leave. The employee lifecycle model may also be called the HR life cycle or simply the HR cycle. Different phases & stages of the employee lifecycle model The employee lifecycle model is about more than just the employment period of an individual. Similar to the customer journey, the employee journey from first contact to offboarding has its own unique set of phases and stages. HR personnel and team leaders should get familiar with each one because it will inform how they interact with employees (and potential employees), depending on where they are in the life cycle model. Paying attention to these details will ensure that each individual is valued and set up for success, whether they’ll be working in-person or remote. Here is what they are, along with why they’re important and the actions to take during each phase to ensure success. 1. Attract The first step in the employee lifecycle is all about attracting the right people. Your relationship with potential candidates begins when they first learn about your brand. This is why dedicating a portion of your employee lifecycle model to recruitment and reputation is so important. Not only does this help build a great product and consistent service, but it also helps retain and attract top talent. Action: Evaluate your recruitment materials with fresh eyes. Make sure social media accounts, landing pages, and physical marketing materials accurately reflect your brand while maintaining business continuity. 2. Recruit The creative recruitment stage is the second part of the employee lifecycle. It involves getting people looking forward to employment and developing a recruitment plan. This step-by-step process starts with the job ad, finding creative ways to demonstrate what your company does and what it values, and eventually leading to the hiring of a new employee. An emphasis on career development, brand prestige, and a healthy work environment is hugely important. Action: Map out potential career development tracks for leads so they get a sense of what the next one, three, and five years may look like at your company. Emphasize upward mobility, work-life balance, and companywide culture. 3. Onboard The onboarding process is a process that begins when a new hire accepts an offer of employment. It involves getting used to the organization's systems and expectations. Everything from the first day of the new hire's career to getting them up to speed with the systems, processes, and expectations of their role falls under this category. On average, onboarding may last anywhere from an hour to a week and is often the shortest portion of the employee lifecycle model. Action: Create an onboarding workflow that is easy for the new hire to follow and involves at least one executive-level manager on a personal level to better enrich the process. 4. Retain In this employee lifecycle model phase, employers must develop and meet the needs of the talent acquired in the previous three steps. You can choose to focus on keeping your top performers while improving on the strengths of others. The goal should also be to create a culture that encourages continuous improvement and development at every level. Action: Set up and regularly maintain systems for employee feedback both formally and informally. 5. Develop Now that you’re retaining a high percentage of staff, it’s time to further develop their skills, help them achieve their career goals, and support continued growth in all areas. This can be done through organized programs, scholarship opportunities for those going back to school, in-house mentoring, and skill development workshops. Having a clear path forward for the next few years will also help employees see how their own personal development will influence the success of the entire company. Action: Make a plan for what you’ll do to help employees grow and how you’ll do it. 6. Separate Separation means either one or both parties have decided to call it quits on your collaboration. But that doesn’t have to be a bad thing! This is an important step in the employee lifecycle and can be helpful if you practice great offboarding techniques. Offboarding is a process that helps an organization improve its employee experience. It’s also a way to build a better relationship with its former employees. As part of a larger strategy, separation and offboarding are often used to shape the last impressions of the employees before they leave. The goal is to make them feel like they are left with a satisfying last impression that may interest them in returning to or recommending your business to other potential employees in the future. Action: Like onboarding, offboarding should follow a template workflow that is easy to follow and loops in someone higher up in the company to help them leave on a good note. Advantages of an employee lifecycle strategy An employee lifecycle strategy makes a company's time with an employee easier and less stressful. It also helps evaluate an employee's performance over time. For managers, mapping out the employee journey helps you improve both your reputation and talent retention. It will also go a long way toward improving employee health and wellbeing while they are with your company. As you know by now, developing and training employees is an essential part of the employee lifecycle. It can help them improve their skills and knowledge, and it can also benefit the business by ensuring top talent stays in your business. Maintaining an effective employee lifecycle strategy can help boost employee engagement and provide them with the necessary training to excel in their roles. How to measure and improve the employee lifecycle It may be challenging to capture data on the employee lifecycle journeys at first. However, key indicators such as average employment duration and anonymous employee feedback surveys will go a long way. Another useful metric is the retention rate. A simple formula to determine the retention rate of an employee is by dividing the number of people working for you by the end of the year. As you measure progress over time, consider documenting your efforts the same way you track tasks for team management. It’s important to describe your HR activities in the form of a flow chart or a chart during the employee lifecycle. Doing so helps map out your employees' journeys and gives you more context when analyzing KPIs. As you map out your HR journey, pay attention to the questions that you cannot answer completely. These will help you identify areas of concern that can affect the employee experience. This list will also provide great ideas for survey questions down the road. How Wrike can help manage your employee lifecycle journey Project software like Wrike can help HR professionals and team leaders improve the efficiency of their work by allowing them to focus on the needs of their employees without sacrificing productivity in other areas. HR project software is commonly used for various tasks, such as planning, onboarding, and employee training. In Wrike, teams can collaborate and communicate across departments at every stage of their employee lifecycle journey. Another advantage of using Wrike is that it can help increase teamwide productivity. It eliminates the need to manually update email chains and other time-consuming tasks, which can easily decrease the quality of life for employees on the job. Agile HR methods are flexible and can help you get started with a project without missing a beat. Wrike's robust project management software can also help you track and manage multiple tasks, including creating one task for each individual. It can also create and track project budgets for recruitment activities and employee enrichment programs. If you’re working as a team to improve your employee lifecycle model, Wrike's ability to create to-do lists with public and private tasks makes it easy to add collaborators while still keeping tasks with the sensitive information in compliance. You can also attach deadlines to individual tasks so that everyone stays on track. Use Gantt charts to map out the tasks and dependencies across multiple projects. For example, you can simultaneously interview multiple candidates while still polishing your recruitment materials for other roles at the same time. Wrike will even help you identify areas of concern that may affect the timeline and resources. If a person or resource is strained, you can easily spot the bottlenecks before they happen, which is especially useful in complex organizations with hundreds of employees to monitor and engage. And as the use of electronic employee scheduling and applicant tracking systems increases, it's clear that project management software like Wrike will be a must-have in the near future. Ready to improve employee wellbeing? Get started organizing your new employee lifecycle strategy today with Wrike’s free trial.
Twitter can be complex. Similarly, the techniques and methodologies that brands use to implement their Twitter marketing strategy add yet another layer of difficulty. While some marketing project managers prefer to follow Twitter best practices and cross their fingers, others know that putting a strategy down on (virtual) paper ensures growth and success on the platform long-term. For those who prefer to know what they’re doing on Twitter and why their efforts (and budget) matter, having a strong Twitter marketing strategy is a no-brainer. In this guide, we’ve answered your most frequently asked questions about Twitter marketing, provided a curated list of essential tips, and listed the exact tools you need to achieve your next benchmarks. What is a Twitter marketing strategy? A Twitter marketing strategy is an action plan that aligns with your company’s concrete goals for this particular platform. A good Twitter marketing strategy involves creating and publishing content that will attract new followers and improve your brand recognition. Why is Twitter good for marketing? Twitter is not as creative as other platforms like Facebook and Instagram. However, it does have an advertising audience of 353 million and is the first in line for customer service as far as social media apps go. Not only is Twitter a must-have social media tool, but it’s also effective for engaging individuals, sharing time-sensitive content, and staying up to date with what’s going on in the world as it relates to your business. How to create a Twitter marketing strategy Despite its fast-paced nature, Twitter still requires a bit of strategic planning and discipline to get the most out of it. Not to mention the fact that it’s important to be prepared for all the unexpected conversations that happen on Twitter. Having a strategy in place will help you respond to any situation that may arise while also building a strong marketing and sales funnel for your brand. Here’s everything you need to know to successfully implement a Twitter marketing strategy. 1. Evaluate your current strategy You should check your existing social media accounts both on and off Twitter to make sure they're in good standing. This will help identify any issues that need addressing now before you launch the next phase. 2. Define clear goals Having clear goals is the first step to achieving success on any social media platform. You should create goals that are specific, measurable, and time-bound. These should align with your company's greater objectives and be realistic about the resources you have to dedicate to the project. You’ll also need to get specific about which metrics you’ll use to measure progress and how often you’ll check in with goals. Remember that there are a ton of different metrics available but not all of them will be applicable to your particular goals. 3. Check out the competition By carefully analyzing the accounts of your competitors, you can learn about their weaknesses and develop a stronger strategy. Look for common themes, tweet frequency, and their most popular tweets to better understand what your audiences are looking for. You can also use this information to improve on what they’re already putting out there in your own content. Pro tip: You can also get digital marketing inspiration from original strategy examples found elsewhere that you can make your own on Twitter. 4. Create a Twitter guide Your company’s customized Twitter guide should include a code of conduct and a clear set of style guidelines anyone can replicate. First, follow a clear responsibilities policy to ensure that everyone is on board with how you’ll deal with the variety of scenarios you may find yourself in on Twitter, which can be a well-known hangout for pot stirrers and ‘trolls’. Even something as simple as accidentally having multiple team members answer the same questions can create a lot of confusion and lead to unproductive discussions. Following actionable guidelines will prevent these common roadblocks from happening in the first place. Next, remember that a good social media style guide is also helpful to keep your team's communications on track. This will prevent branding mistakes and minimize miscommunication. Keep in mind that your brand personality should be consistent across all platforms. It should also communicate your company's values and goals. 5. Create your Twitter profile Having a professional Twitter profile can help strengthen your brand and inform your audience. You also want to make sure that your handle is consistent across all platforms. Here are the steps you’ll need to take in order to get started: Create a handle. Your username is the first thing that people will see when they look at your profile. It should include your company's name and other recognizable details. Add a profile photo. Make sure your imagery keeps to the correct dimensions and is high-resolution. Add a header image. Your profile should also feature a clean and prominent header image. It can help provide insight into your company culture or reflect on current campaigns. Write your bio. A well-written and snappy bio is also important to stand out from the crowd. You can also use a tagline or a creative image to highlight your brand personality. Include a link. Send click-throughs to your homepage or a dedicated landing page for Twitter audiences. Choose a location. One of the most important elements of your profile is your location. This is very important for small businesses as they want their customers to be able to find them offline. Add a birthday. Use the date your company was founded or an important launch date. 6. Start a Twitter content calendar A social media content calendar is a great way to align your content across all your channels and identify potential conflicts. It can also help you plan ahead and capitalize on any opportunities that arise. Another benefit of planning out your calendar is that it will help you determine if you're sharing a balanced mix of content. Although you can schedule some tweets to go out ahead of time, the social aspect of social media will still require you to respond to DMs, mentions, and retweets promptly. 7. Schedule some tweets ahead of time Get ahead of the competition by scheduling your tweets to go out on optimal days and times. Doing so will allow you to maximize the engagement and visibility of every post. Unfortunately, you can't always schedule 100% of your tweets or else the platform may flag you as spam. However, it's possible to save time by pre-scheduling content that's already planned in advance. 8. Create a monitoring plan Once your marketing strategy is in place, it's time to regularly evaluate your progress and set goals against those that you set. Use the same project management platform to evaluate your Twitter data and run reports to keep everything in one accessible place. 9. Use social listening Twitter isn't just about speaking. It's also about listening. Through social listening, you can learn about the opinions of other people about your products and services. It can help you develop a more authentic and loyal customer base. 10. Consider paid ads Paid ads aren’t right for everyone, but they can help your new Twitter marketing strategy gain more traction faster. Twitter Ads are a great way to target specific audiences. They allow you to measure the effectiveness of your campaign and find the right messages for your brand. Even if someone doesn't follow your brand or hashtags, a promoted tweet can still show up in their timeline. You can also interact with them in the same way as organic content. 11. Include link tracking Just like you link track on your sales pages, email newsletters, and other social media, Twitter offers another way to obtain data on customer buying journeys. Track the link in your bio as well as any company website links you tweet out. The metrics provided by link tracking tools allow you to monitor how people navigate to your website and measure the effectiveness of your campaign management. They're also useful for analyzing your bottom line as you improve your conversions and traffic over time. 12. Use all of Twitter’s features This one may take some time, but it’s worth noting that the best way to maximize your Twitter marketing strategy is to use every last tool the platform has to offer. For example, did you know Twitter allows users to host live chats? Use a live chat to discuss a topic, ask customers for their opinions, or collaborate with a brand partner on something you're working on. Twitter marketing tips There are countless tips on the internet about how to do Twitter well. The truth is most of your success depends on trial and error plus consistency over time. Here are some of our curated Twitter marketing tips that we’ve either used or seen work firsthand. They serve as a good jumping-off point for any foundational strategy. Start with one, then mix the rest in over time. Think big-picture. One of the most important factors to consider is how Twitter fits into your overall social media strategy. Assign daily supervision. Busy accounts may require a team member’s attention to monitor them every day or even every hour. Have a backup team member for every single account in case one is out-of-office. Plan one month out. A 30-day content plan will help you grow your Twitter following fast. It will also help you track your social media campaigns and analyze what resonates with your audience. Use lists. Through lists, you can get in touch with the conversations that matter to you most. These feeds are curated by the accounts that are most likely to have influential discussions. Develop your voice. Although you can use images and videos to attract followers, a well-written and compelling voice is very important to have on Twitter. Tweet authentically. Don't send tweets that sound like they're coming from a robot or a script. Instead, communicate clearly and politely. Stand out. Follow a unique and original message whenever you post on social media. Doing so will make your Twitter content more engaging. Use polls. Twitter polls allow users to pose questions with multiple choice answers. Gather valuable feedback and opinions about your customer preferences and favorite products. Add photos and videos. Visual assets can help you convey a message more effectively. They can also be used to reinforce an important point or highlight a chart or infographic. Use hashtags. Hashtags are a great way to boost your visibility and discoverability on Twitter. This feature is essential for new accounts. Add branded content. For example, creating a branded hashtag is a great way to organize and promote content about your business. It can also be used to search for user-generated content related to your products. Track trends. Follow trending topics to get notified about new posts and hop on relevant themes. Think before posting. Although most Twitter users rely on the mobile app, search engine preview snippets of profiles may show recently deleted tweets. So think through each message before you hit publish — otherwise, it may come up on Google days, weeks, or months from now! Engage, engage, engage. It's important to create a two-way channel of communication on Twitter to engage your audience. Creating content that encourages your followers to interact with each other is also important. Get verified. A verified profile helps prevent people from being confused with fake and duplicate accounts. Twitter marketing tools to get you started There are three main marketing tools you’ll need to get started, regardless of your goals or strategy. Data measuring and reporting Asset storage Project management platform Without the help of data measuring and reporting, brands aren’t able to perform well on Twitter. The feedback from key metrics such as retweets helps marketers better understand their audience, grow their following, and reach as many new timelines as possible. Asset storage is another essential Twitter marketing tool. Between branded links, third-party links, photos, videos, GIFs, and more, having one central location where all of your Twitter content assets are stored is both convenient and strategic. Last but not least, the most important Twitter marketing tool you can use is a project management platform. Twitter requires you to create content, respond to public and private messages, track data, and keep up with the latest features. A great project management tool will allow you to do all of that in one accessible place so you can stay on top of all the moving parts while focusing on your chosen strategy. Why use Wrike to build your Twitter marketing campaign Like other social media platforms, finding success on Twitter requires a strategy and an intentional approach. That is why using a marketing project management tool is so important. Wrike's marketing project management software lets you track and communicate with your team across all your campaigns in one place. Not only does it help break down silos and make communication easier, but it also gives you a 360° view of your Twitter and related social media campaigns, allowing you to see all of them in one place. Wrike's software also helps you track communication with your team across all your campaigns in one place, so you’re always on the same page, even with Twitter’s fast-paced conversations. If last-minute tweets or replies need approval, team members can easily see your feedback and loop approvers into ongoing conversations via @mentions, which can help cut down on review cycles. For productivity, Wrike's marketing project management software helps you streamline your processes and achieve your goals. Doing so will increase the visibility and efficiency of any strategy you implement. With all of Twitter’s moving parts, having full transparency into your workflows is essential since bottlenecks are that much harder to resolve. If you run a social media strategy on any other app, you already know that project management for digital marketing is different from other project management disciplines. That is why Wrike developed flexible workflows that make it possible to eliminate the guesswork and get more done in less time. Twitter has many complex moving parts with real-time feedback, so solid data reporting is mission-critical to getting it right. Wrike's marketing project management software features dynamic reports that allow you to visualize and gather business intelligence quickly. Ready to take action on your new Twitter marketing strategy? Get started today by organizing your social media plan into assigned tasks and timelines using Wrike’s two-week free trial.
In this article, we’ll define the RICE model and what it stands for. We’ll also explain how RICE scores work, plus the benefits and challenges of using this framework. Keep reading to discover how to strategically apply this method to project management. What is the RICE model? RICE stands for reach, impact, confidence, and effort. The RICE framework is a project prioritization method used for quantifying the potential value of features, project ideas, and initiatives. It’s a great tool for facilitating Agile teamwork. How do RICE scores work? RICE is a score that measures the effort needed to get an item to its goal. It helps us identify which items are most important and which ones are least important. Reach This metric shows the number of people who would be affected by a feature or service in a given time period. It could be a reduction in churn or a spike in transactions. Impact A feature's impact is measured by how much it contributes to the overall success of your product. It can also be used to determine how much of a boost it will provide to your conversion rate. This is often used for product management but can also be applied to projects involving user-facing parts or experiences. There are many ways to measure the impact of a feature. Some key questions to consider include: will it improve conversion rates, or will it make the experience more streamlined? Confidence This metric is used to measure the confidence that you have in the estimations that you made for a project. It asks how confident you are in the data to back up those estimations. Rated on a scale, this metric involves both internal and external validation to score properly. Effort This is the amount of work it takes for a team to build a feature or complete a project. It can be a long-term project or a simple requirement that only needs a few people. Your exact definition of effort may vary. But most product and project managers use metrics such as time and budget. RICE model example RICE is calculated using this formula: (Reach x Impact x Confidence) / Effort It’s up to you to create your own scoring system within each part of the formula. But reach is usually a whole number within a time frame, impact is a number on a tiered scale you define, and confidence can be a percentage on your own custom scale, with 100% being the most confident. Effort is almost always quantified as time, but it can be defined as any resource type, such as labor. For example, let’s say the school lunch team is deciding if they should make more peanut butter or tuna fish sandwiches for the upcoming field trip. Using the RICE model, we’ll calculate the scores of both sandwich types to determine which should be prioritized. Reach There are 100 students going on the one-day trip, so we’ll use one day as our time frame. Of those 100, 80 have signed up for school lunch. Therefore, peanut butter’s reach is 80, and tuna fish’s reach is also 80. Impact Our tiered scale will be small and define student interest based on what we know about leftover sandwiches from the last trip. 1 = lots of leftovers from last trip 2 = some leftovers from last trip 3 = few to no leftovers from last trip There were few to no peanut butter sandwiches leftover from the last trip, but half of all tuna sandwiches were left untouched. From this, we can now see that peanut butter’s impact is 3, while tuna fish’s impact is 2. Confidence We’ll define how confident we are that students will want to eat the sandwiches on a scale of: 0% = extremely unconfident 50% = somewhat confident 100% = they love the stuff We know in this particular example that there are no nut allergies in this group, but there are some vegetarians. Therefore, pulling from the data on leftover sandwiches, we can ascertain that peanut butter’s confidence is 100%, while tuna fish’s confidence is 50%. Effort Peanut butter sandwiches can be prepared by simply spreading it onto bread, while tuna fish requires opening cans, mixing mayonnaise with spices, and then spreading it. Our effort scale will be defined as: Peanut butter’s effort = 3 minutes per sandwich Tuna fish’s effort = 6 minutes per sandwich Final calculation Peanut Butter’s RICE Score = (80x3x100%)/3 = 80 Tuna Fish’s RICE Score = (80x2x50%)/6 = 13 From this analysis, we know that peanut butter sandwiches have scored higher, so their production should be prioritized for the upcoming school trip to maximize the efficiency of supply ordering and division of labor. The benefits of RICE prioritization In a nutshell, RICE helps you make better-informed decisions in Agile project management. The scoring system helps identify when to make the most advantageous trade-offs and minimize potential biases. It also helps empower teams to take the next steps with minimal supervision since task prioritization is made simple when using this tool. And even when you’ve got a project underway, RICE makes it easy to organize all of your incoming work requests without disrupting active work. RICE scoring asks users to defend their choices when measuring their work and resource usage against defined priorities. Challenges of using the RICE framework Due to the complexity of RICE, product managers often have to consider multiple metrics across multiple features to create the best possible outcome. This is time-consuming, and much of the decision-making is at the manager’s discretion, which may defeat the purpose of the method in the first place. Another challenge is the potential lack of information. Data isn't always available for every product, and for most physical products, these metrics are often hard to measure. And last but not least is implementation. After putting in all the effort to create your RICE framework, you still need to get your team on board. If they aren’t frequently referring to the metrics or don’t fully understand what it means for their work on a practical day-to-day level, then the framework creation was a waste of resources. How to use RICE in project management Most project managers have at least some understanding of how to prioritize tasks. They may also have preconceived notions about how to do this. But due to the complexity of project management, it can be difficult to make informed decisions without a system for some of the most complicated factors. Some of these factors include team capabilities, personal biases, and the impact on companies or stakeholders. That’s where RICE scoring and frameworks come into project management. Rice scoring allows project managers the opportunity to make data-driven decisions with objective considerations that are related to the goals and the experiences of their customers. While a good project management system can help minimize this subjectivity by allowing people to easily prioritize tasks even when everything seems important, RICE frameworks also contextualize these choices. How to use RICE in product management A scoring system for product prioritization is not new. But finding one that works seamlessly across different ideas can be a challenge. Using the RICE scoring system outlined above, product managers can create a score for their many competing priorities. Once those are calculated, managers can draft a roadmap based on the order of product prioritization. This framework communicates which initiatives are most valuable to teams while providing a clear way forward no matter how complex your product to-do list has become. Combining RICE scoring and framework with a product management solution that allows you to carry out your new plan is crucial. Abilities such as performing critical path analysis that prevents conflicting resource usage or expectations and updating tasks with customized statuses so that teams can stay true to their RICE analysis results can make or break your prioritization efforts. Ready to maximize the efficiency of your project and product management plans through strategic task prioritization? Get started today with Wrike’s two-week free trial.
