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Thursday, January 31, 2013

Gantt Chart : Time Management Techniques And Its Effect On Business Success

In today’s fast life, time management plays vital role in the success of any business. Your clients always expect you to be on time, and meeting critical deadlines efficiently are the necessities of today’s life. But to manage time effectively may become a problem most of the time when deadlines of different phases of a certain task are defined properly. We can take the example of online shopping websites. When a customer places an order, there are certain phases of delivery processes. The validation, verification and shipment time etc. So if you miss the track of any of these things, the consequences may not be very good. You may lose your customer or credibility etc. So time management is very important to gain the trust of your customer and development of your business.

The difficult task of time management can be easily managed using time modeling techniques. One of the most famous techniques used for time modeling is gantt chart. The time plan of your business strategy should convey to your investors:

  • Present condition of business
  • What are future plans
  • Estimate of required funding at a particular time
  • Estimated time of a business transaction
  • Fair assumption of funding and expense at a time
Time Management Example
Time Management
Time Management Mindmap

The gantt chart is a good way of expressing all of these things. You can have an overview chart and then you can make sub-charts of different phases present in the overview chart. This gives a good idea to the investors that what is the time frame of a given phase and what funding are required as you mention the funding and other things that are required in a particular phase. Look at these "Gantt Chart Excel Template" "Another Gantt Chart Template".

Gantt Chart #1
Gantt Chart
Gantt Chart Excel Sample

Gantt Chart #2
Gantt Chart
Another Gantt Chart

Gantt Chart #3
Gantt Chart
Gantt Chart Infonet Sample

If you show the present condition of business, you show that what are the present timing constraints on your business? Then if you show the timing plan of your future business extensions, you may show that what is the future plan? in what order you are planning to execute them, and what time a certain task will take. This will give the viewer a fair idea that what is the level of your planning.

Now the time a certain business transaction takes at a certain level of business development is very important. It measures the swiftness of your business strategy. Again take the example of an online shopping transaction. In order to give the customer a fair idea that how much time is needed to fulfill a certain request you can display to him a gantt chart outlining the important phases of the transaction process and the time taken by each phase that adds up to the total time required. In this way a customer will know at a glance that in what time he will be able to get his order.

So the time modeling can make the understanding of your customers and investors better, and better the understanding more are the chances of progress in business.

2 comments:

  1. Time management is extremely important and you have mentioned some good points and tips. Sometimes it can be easy to say all this but difficult to follow. But it is absolutely essential to take need of this advice and really work towards managing time.

    Other than this techniques, time tracking application is very important when you are employing people on a hourly rate on larger projects though. I prefer using Replicon product http://goo.gl/yGF1mm for time management.

    ReplyDelete

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