The Financial Leader’s Monthly Action Plan: Make collaboration your strength

Projects cannot be properly executed without an effective social component. This is incredibly important to recognize because the diverse perspectives and expertise available across collaborative teams lead to better problem-solving, more innovative solutions, and better decision-making. However, with team members spread across vast geographies, collaborating isn’t as easy as grabbing a conference room or striking up an impromptu discussion in the breakroom.  

 In addition, teams may inadvertently create their own silos, causing communication issues and barriers to knowledge sharing. This makes it difficult for everyone on a project to stay aligned.   

Overcoming collaboration challenges  

Projects can still be executed effectively, even if team members don’t share a physical workplace. It just requires some intentionality to pull it off. Here are a few tips you can use to enhance collaboration where you work: 

Establish a business cadence 

A well-defined collaborative business cadence, including a calendar of events and interactions, ranging from daily to yearly, is an excellent structured framework for communication. Add weekly virtual meetings between subcontractors, functional groups, executive management, project managers, and the customer to ensure that collaboration is not sporadic but embedded in the routine fabric of the project. 

Leverage mobile applications and web tools 

Empower your teams with mobile applications and web tools that facilitate seamless time and expense entry while on the move, accelerating the transition from project to profit. Analytics on the go is key, giving project stakeholders what they need to know about project status right from the palm of their hands. 

Invest in soft skills for project managers 

Project managers leading both office and remote teams must possess the ability to communicate, empathize, collaborate, and solve problems. They will need to be more intentional about translating existing in-person communication skills to virtual communication. Invest in training initiatives designed to improve how your PM interacts with team members by improving tone and etiquette. 

Implement unified access systems 

Overcoming the challenges of siloed spreadsheets and disparate toolsets requires a unified access system. Investing in tools like Unanet can serve as the one source of truth for project-based ERP needs. Such tools provide a centralized platform where all stakeholders can access information, enhancing collaboration and breaking down information silos. 

Suggested resources 

Take a look at some of these resources you can use to improve collaboration where you work.  

• Project Dashboard Overview 
• Benefits of maturing project management 
• Reservoir International Case Study