Correlation between event sponsorship any project management

Seven mistakes to avoid in project management of any businesses. Every change, ultimately, becomes a project management to be handled with caution in order to ensure its success.

Every change in a business process or organization becomes a project management. Raising funds, acquiring sponsors, building a competent team, finding the right resources and tools and managing the available budget. In this context, what are some of the most common mistakes when leading a project management?


1. Not conducting the necessary research


Any project manager may assume that the research phase is an obvious requirement. Despite its apparent simplicity, however, it may also be one of the most challenging milestones. How so? By definition, building something new brings about unforeseen circumstances. This phase is characterized by intuition, beliefs, faith, and desire. We can do nothing but act and research whether our ideas will work. Is it possible to reduce the uncertainty? Of course, but not completely. This leads to our second mistake.


2. Not being flexible and not adjusting our approach


Oftentimes we have an initial idea or goal, which is very likely the right one, but figuring out how it will be implemented isn’t instantaneous. Trial and error usually follow. Bringing our project to fruition requires more than one approach. There will be a variety of options, shapes, and forms based on the number and type of people working on the project. What will be the real impact on the project? It will depend on the quality of people, another mistake to avoid that we will find out in the following lines.


3. The impostor syndrome of a leader


The leader of a project has the greatest impact on the project. Leadership behavior, beliefs, character, and values will determine the direction to take. The project will take a very different direction depending on whether a company has a leader who values collaboration or a leader who is not interested in hearing any opinions. What is the best approach? Different types of leadership are needed depending on different circumstances. There is no size-fits-all approach. What else can prevent a project from succeeding?


4. Setting up tight deadlines and not sharing the high picture


Continuously working under pressure until the team’s motivation and passion disappears is definitely one of the reasons for a project’s failure. Companies are today paying more attention to their employees’ well-being. The ability to work in an environment where team members feel passionate about their work, where they are not constantly stressed and where they are a part of something meaningful, while also seeing the bigger picture, has a direct impact on their performance and ultimately on the results of the company. People are no longer interested in factory work styles. Whilst working, they want to feel they are contributing towards something meaningful, significant, and grow at the same time. A company’s culture is what gives employees a sense of belonging.


5. Assuming everyone in the team will deliver the same quality


Leaders often make the mistake of thinking that everyone can and will perform at the same level. Nothing could be further from the truth. Not because they are not smart enough, not because they are not trying, simply because they have different characters, different passions, different working styles. Not all jobs are suitable to everyone. Some people can handle more than others. As an example, someone who is creative and prefers to work within their own schedule, but is given tight deadlines to complete a repetitive task, will not achieve the desired results. So why do we do it? Perhaps we didn’t clearly identify the necessary tasks in the research phase of the project and therefore we lack the right resources. There are many innovative ideas that can be brought to the table. People’s strengths, expectations, work styles, competency, and emotional intelligence must be identified in the first instance, and the latter is often overlooked. Money is not the only motivator nowadays. The sooner we accept it, the faster we achieve the desired results for our organization.


6. Not identifying the tools and systems required


The world has evolved faster than we could have ever imagined. People are scrambling to keep up with all the newly released information available. We become stressed out and overwhelmed by the amount of information we must assimilate within a short period of time. When we don’t learn how to utilize automation, systems, and artificial intelligence to simplify our lives and tasks, we end up in burnout. It applies to all projects. What tools can be used in data processing, information sharing, and data analytics? By identifying it early in the project, a company can save funds and avoid failure. Meanwhile, using the necessary tools to structure and organize the project may seem like a given, until challenges arise.


7. Lack of communication between the different stakeholders


In order to avoid overlapping activities, time and budget loss, it is crucial to ensure a constant flow of information between the different stakeholders. Everyone should be able to express their opinion, they should all be heard, and communication should flow naturally and authentically. Team members’ emotional intelligence is crucial at this point. It is the only factor that, if absent, can destroy the entire project. In the end, it comes down to the aspect of human beings, whether it is about building a team, partnering, getting more clients, or raising funds. Everything comes down to feelings, emotions and beliefs. Is it possible to change these? Yes…but that’s a topic for another article.


In conclusion, you may wonder, how do sponsorship opportunities relate to the above project management mistakes? The organisation of an event is like any other project management. It is managed by applying the above mentioned principles. Sharing our knowledge and experiences, that benefit to any company and project, is our unique way of building trust with companies who may be interested in sponsoring our events. Sponsors are a major part of our events where brands can advertise themselves at a lower cost and even generate leads.


If you wish to become one of our sponsors, you can always visit our dedicated sponsors page:


https://www.mydesigntomorrow.com/sponsorships

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