What are Project Objectives in Project Management?
Project objectives are goals, plain and simple. These are the business objectives that you want the project to accomplish. Within project management, it is of the utmost importance that a project's objectives are stated clearly as these will impact every decision in the project lifecycle.
Project objectives must be measurable and contain key performance indicators that will be used to assess a project's overall success. These indicators will often include criteria such as budget, quality, and time to completion.
Project management objectives serve a very specific purpose. They break down the key steps to achieving overall project success. For example, if your main project goal is to increase customer renewals by 20% year on year, your objectives would consist of smaller milestones and key results that would be in service of this main goal.
When setting objectives, be sure to avoid vague or confusing language. For example, “Make the business become more successful by next year” would not be a good project objective. To write more effective project objectives, team leaders can use the SMART goal-setting framework.
SMART objectives are goals outlined using the SMART goal system. In this framework, SMART stands for specific, measurable, achievable, relevant, time-bound. When writing out your project objectives, make sure to tie them into the bigger picture of your project and your business as a whole.
When writing your project objectives, you can look at what’s realistic based on what was accomplished in previous iterations of this project type. Or check out which KPIs you used last time that you can use to measure results this time around.
- Specific: Spend $5,000 or less when completing the marketing project.
- Measurable: Can be measured by tracking expenses on a shared document.
- Attainable: Because this is a recurring project, we know that it normally costs $4899, so this is achievable.
- Relevant: The marketing campaign supports larger company goals of brand visibility.
- Time-bound: The project will begin on the 1st of the month and end on the 30th day of the same month.
Process 30% more client requests per quarter by using a project management solution.
- Specific: Adopt a project management software that allows us to process more client requests.
- Measurable: Compare our target KPI’s from previous quarters to this one.
- Attainable: Identifying bottlenecks and inefficiencies will help streamline our old processes and receive more client requests.
- Relevant: This will help with client satisfaction, retention, and acquisition. All essential to the business.
- Time-bound: This objective should be ready to assess at the end of the quarter.
When you’re finally ready to implement your project objectives, grab an OKR template and fill in the blanks with actionable steps you and your team will take to accomplish them. Create OKRs (objectives and key results) for departments first, then teams, then individuals. Lay them out on a visual timeline or Gantt chart and add due dates to each related task. Add check-ins at regular intervals since changes in progress may result in changes in your SMART objectives, too.
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