Are you faced with a complex project and do not know where to start? –It means your business operations lack effective planning.
Statistical reports revealed that 39% of projects fail due to a lack of proper planning. You do not want your business projects to fail and cause losses, so it is paramount to incorporate valuable methods in your business strategy to ensure effective project planning.
The recent shift into the digital age necessitated innovative technology to achieve business objectives efficiently. One such tool is the Work Breakdown Structure or WBS, which companies use to plan and manage their projects and tasks adequately.
If you are wondering what a Work Breakdown Structure is and how it works, you are at the right place. We are about to explore this tool in detail so you can understand and incorporate it into your business operation immediately.
Let us dive into it!
What Is A Work Breakdown Structure (WBS)?
A Work Breakdown Structure or WBS is a visual representation of your entire project from beginning to end. It deconstructs your business projects hierarchically, breaking them into smaller tasks that are easy to understand and achieve.
This project management tool is a step-by-step process of how your project will move from start to end. Project managers create a work breakdown structure that turns large and complicated projects into easy and simple ones.
A WBS template divides the project into tasks that are easier to achieve. According to Forbes, it is based on the “100% rule,” which means that it covers all aspects of a project, including the person or team concerned with it.
Why Are Work Breakdown Structures Essential For Your Business?
There are 30% greater chances of growth if you have an effective business plan. The best way to achieve this is by incorporating a WBS in your business operations.
The enormous gains of this innovative tool have made it the talk of the town. Let us look at some of its prominent benefits;
- Turns your complex projects into simpler ones, making them easy to achieve.
- Highlights different tasks so that they can be distributed amongst various team members.
- It provides a visual representation of your entire project before it even starts.
- Organizes your business operations, thereby offering you clarity and transparency.
- Gives you an idea of the total costs and efforts required in your respective project.
- Shows the strategic connection between objectives, milestones, and deliverables required to achieve the project.
- Identifies potential risks and threats that can wreck your entire project to prepare accordingly before time.
- Determines your project’s timeline so that you can schedule it accordingly.
How To Create An Exceptional Work Breakdown Structure?
Do you also want to incorporate Work Breakdown Structures in your business? Get a WBS template to complete your projects more efficiently.
If you want to create a WBS for your business, here are some tips to get you started.;
Start by brainstorming with the team members from the departments involved in the project’s execution.
Collect the necessary data and information which is required for the project. This includes project scope management plans, statements, and more. You can also use different tools like whiteboards and sticky notes to divide tasks.
Determine the project’s end goal, so you have a direction to organize your tasks. This would also cover determining critical deliverables of your project so that you can plan accordingly.
Using expert help, divide the main deliverables into separate tasks to be assigned to the team members.
Build a Work Breakdown Structures dictionary that would include valuable data like work package ID, name, due date, name of the person it is assigned to, estimated cost, and more. It will enable the team to understand and conduct the project more efficiently.
Choose a format you deem fit to fill in all the information you have gathered. Your Work Breakdown Structure can be made of tabular structures, visual flowcharts, or any other hierarchical diagram you like.
Once completed, share your WBS with your team to discuss the project and whether anything should be added or subtracted.
Work Breakdown Structures are an excellent way to turn complex and tedious projects into simple and fun endeavors. All you need to do is make sure you have picked or created a WBS covering all your project’s major and minor aspects.