Nowadays, many companies, organizations, and individuals are becoming more aware of the importance of technological factors in all aspects of life. This situation has resulted in the increasing need for different software products and services that cannot be created successfully without a proper software project management plan

Whether you’re currently an experienced software project manager, an ambitious team member in a software project, or still very much in the dark about it, this article will offer something helpful. Specifically, you’ll know something about project management steps and how to make an effective project management plan. 

So what is software project management? Actually, it refers to the branch of project management that involves planning, scheduling, allocating resources, executing, tracking, and delivering specific software and other IT-related projects within the minimum possible consumption of resources, time, and money.

Building a software project management plan

Performing requirement gathering

The first step in building a software project management plan is requirement gathering. It is about the exploratory research and documentation of the customers’ project requirements to provide them with what they want. The requirements gathering process can be conducted at the very beginning of the software project.

This phase can determine the success or failure of any software and IT-related project. More specifically, if you cannot get a correct requirement identification of deadlines, scope, and cost overrun at the outset, all these elements will negatively impact the project progress.

Planning for software project risks

The project risks can unexpected and rampant, ranging from insufficient time and budget. Unrealistic stakeholders’ expectations to software quality standards and human resource issues. Thus, the identification, quantification, and responding to the risk potentials to mitigate their impacts are essential in the project management phases

Irrespective of their company’s official risk management plan, software project managers and his project team have to identify accurately and quickly the project risks. This can be achieved by using both quantitative and qualitative risk analyses, but the former is more suitable for large projects with longer durations and more money at stake.

Selecting software project team members

A software project is a collaborative activity performed by people, and they are those in your project team. You need a project team for planning, estimating, execution, and project completion. They need you to lead the project until the end and protect them from stakeholders’ badgering.

To determine all necessary resources for the project, you can consult those experienced in software and IT-related products. You can also refer to the resource database in your company. It will scan the resources and know people’s skill sets. And talents for your project team to be assembled quickly.

Creating software project time estimates

The software project manager is also responsible for creating the time estimate as accurately as possible. A reasonable time estimate will help you be more prepared for any risks, development delays. And time-consuming tasks so that the whole project can be implemented straightforwardly to the completion. 

Creating a correct time estimate of how long the project will last is a time-consuming and challenging task. However, a work breakdown structure (WBS) and a project network diagram (PND). It helps to detail what should be conducted by both the project manager and the project team for the project completion.

Estimating software project cost

A critical phase in software project management planning is recognising. And understanding how much a project will cost for you to commit the funds. An accurate budget estimate should include the following: product and project scope, time frame, assumptions, constraints, variance range. 

Cost estimation helps the project manager explain all real costs to a stakeholder about a correct ballpark figure for the project. Though not all necessary information is available until the planning process. It won’t stop customers from asking cost questions requiring quick responses. Remember that poor cost estimates win little trust from the stakeholders.

You should also bear in mind that understanding your organisation’s rules for estimating is essential before diving into the cost estimates. Some companies don’t have specific policy guidance on cost estimates. While others will offer some guidelines, to which you should conform.