How to build a project timeline
When it comes to any project, a timeline is important for so many different reasons. The most important reason is that it can impact your bottom line.
Research has found that only 29% of businesses complete projects within the deadline, and of these, only 43% of them are able to stick to the budget. With such a small number of businesses able to effectively deliver on projects, it begs the question of what could be done to improve? What makes the difference?
The answer is simple, an accurate and realistic project timeline.
Understanding a project timeline
As the name implies, this is the flow or diagram used to illustrate the project from start to finish. The benefits of using a project timeline include:
- Visual milestones to conceptualize projects
- An easy to understand project overview
- Shows the priority of various tasks
- More effective task distribution
How to create a project timeline
Now that you’ve got an idea of what a project timeline is and how it can benefit your business, it’s time to look at how to create a project timeline.
- Set out the goals and who is responsible for what as well as contingency plans to fall back on
- Break down the deliverables into smaller, more manageable tasks
- Give each task a deadline and estimated budget
- Create a chart and visualise your project timeline – Monday.com is the perfect tool for this
- Share the visual with your team, as a living document that will change and grow alongside the project
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