What are the components of Priority Management?

What are the components of Priority Management?

Priority management is managing priorities aligned with the companies’ goals and objectives.  We set priorities and make sure we formulate a plan to achieve the goals in a consistent manner.  Progressive companies have a dynamic work environment where changes arise as part of course.  There are constant responsibilities to be dealt with.  There are also impromptu changes and decisions to be made when an issue comes up.  Priority management plays a vital role with these decisions and changes. 

Priority management requires several factors for it to be fruitful.  Multi-tasking is evident in companies today; however, it does not seem to be the most effective in achieving exemplary results most effectively and efficiently.  Let us look at some of the major components of priority management to be able to understand how it can help a company.

Prioritization:

In setting priorities, we make sure we always take into consideration our company’s objectives.  The Eisenhower Method  is what most find effective in time management as an integral part of setting priorities.  Tasks get prioritized as soon as they come in, classified being URGENT, IMPORTANT, NOT URGENT and NOT IMPORTANT.  This way, we get to finish the first things first and attend to other stuff after.  Setting priorities does not mean completing tasks as they come. It means completing the tasks that require immediate attention first. This can avoid later damage control.  When tasks are dealt with accordingly, with simple ongoing review of these priorities, it prepares us to be able overcome issues  when they come up in a timely manner.

Planning:

Once our priorities are set, we can then come up with a working plan for the day, for the week, for the month, for the project.  This way, we have a visual of the timeline a task, or project requires.  We formulate our plan based on the timeline, and we must come up with actions that help us focus on completing the work.  With priority management, all factors should be considered.  The timing, the quality, the capacity and capability of the team, the objectives should all be aligned in achieving exemplary results.  Everything should be accounted for, even the manpower, resources, and output requirement.  Once a foolproof plan is in place, execution of the work starts.

Quality:

Priority management is not just completion of tasks.  Priority management is a system by which projects are completed in a more efficient and effective way without compromising the quality of the output.  This raises the bar on the quality a business can provide.  Meeting the objectives is the expected output.  Exceeding the expected output is always the goal.

Project management:

Project management is the last component of priority management.  Project management is a set of tasks/operations/actions to complete a single goal, a single project.  The tasks or workload may be temporary, depending on the timeline of the achievement of the goal or objectives.  In managing projects, one must have an overview of all of the facets of the project.  Manpower, tasks, quality, timeline, etc.  Everything needs to be tracked.  This is to check productivity, the progress of the project and the quality of the project. 

With all these components accounted for, priority management will be achieved.  Priority management is utilized by companies to be flexible enough adapt to today’s dynamic work environment.  Company and business owners want to move forward together with the changing demands of any industry.  Setting priorities, planning the course of action, tracking quality and effective project management make up priority management.  In order to succeed in business nowadays, companies use priority management.  This helps the companies in achieving their goals in the most effective and efficient way possible allowing room for improvement and space for growth and development.

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