How to effectively manage an E-Commerce Website Project?

What is E-Commerce Project Management? 

E-Commerce Project Management is not a bit similar to a regular project management setup, as some people tend to mistake them for the same. Because the former focuses on particular aspects or characteristics of e-commerce activities. 

We all know that excellent management entails more than a well-defined plan with clearly defined scope, quality, budget, and deadlines. However, applying all of this to an e-commerce enterprise might be more difficult. As a result, the project manager's position becomes increasingly vital when working on an e-commerce project.

An effective project manager is in charge of organizing and motivating the team to complete the work on time while maintaining high-quality standards and staying within budget. 

E-Commerce Websites in India 

In India, the online business industry is well-established. And every day, another fresh player joins the fray. The e-commerce business, however, makes a significant contribution to its expansion. Even so, few people are aware of the complexities of the e-commerce market.

It refers to a vendor's website that sells or provides services to customers directly through its portal. They have a computerized shopping cart and accept credit cards, debit cards, and electronic fund transfer payments. The e-commerce sector aids in the reduction of expenses associated with order management while also allowing for interaction with a diverse range of suppliers and trading partners.

It also includes any business transaction where the parties communicate electronically rather than through physical interactions. Some popular examples of E-Commerce websites in India are Amazon, Myntra, SnapDeal, Nykaa, and many more.

This visible growth of E-Commerce Websites in India is attracting various Global platforms, but it is also creating numerous business and work opportunities within the country itself. 

The process of purchasing things via an electronic medium in which the buyer is connected to the vendor via the internet is known as online shopping. For example, Smartdoko is also a Nepal-based E-Commerce destination that offers a large choice of things that customers can purchase with a single click rather than visiting a shopkeeper. 

What Methodology is being used?

The core research method to be used throughout the study is Methodology. The Methodology of the research investigation is crucial. It covers the type and sources of data, the purchasing process, and the terms and conditions of various payment methods.

Different methodologies exist. Every study is founded on data analyzed and interpreted to obtain knowledge. Primary data and secondary data are usually the two types of data sources. To perform research methodology in business, both primary and secondary data sources are used.

The primary sources of data are used to visit the workplace to get first-hand information. The secondary data sources can be used to get information from Google, websites, and Facebook. 

Popular Project Management Methodologies 

Every E-Commerce business is faced with a set of challenges, and to face those challenges head-on, the right methodologies have to be adapted. So, here are a few Project Management Methodologies that might help your business — 

1.  Agile Project Management 

Agile is an iterative process that involves creating little pieces of the ultimate product in each cycle. Rather than blindly following a tight plan, you adjust to innovations and changes.

One of Agile's key advantages is that client input is obtained for each developed feature, which tremendously aids in continuous development. However, keep in mind that employing this project technique may make estimating the end product's quality more difficult.

2. Lean Project Management 

Lean project management typically incorporates a continuous workflow to avoid bottlenecks and delays and continually improve. Each stage brings new adjustments and enhancements to the ultimate product. This management structure's main purpose is to provide value to the client.

Lean management focuses on saving critical time and energy that would otherwise be squandered on redoing by outlining the features on each level. The lean technique concentrates on the most important aspects while avoiding needless chores and meetings.

Instead of long-term implementation planning, lean project management evaluates the effectiveness of each stage's work. Focusing on value rather than quality, on the other hand, may have disadvantages. The lean Methodology places less emphasis on training.

3. Scrum 

The Scrum technique focuses on a group of people working together to create and deliver high-quality, ready-to-use projects. It begins with a discussion of the client's primary goals and requirements. Scrum employs sprints, with each sprint producing a finished product that is then enhanced in subsequent sprints.

Daily short meetings (up to 15 minutes) are held to review progress, discuss difficulties, and plan the day's duties. Because teamwork is so crucial, it's critical that each team member has sufficient expertise and is prepared to respond promptly to situations.

4. Kanban

Although it is less rigid, Kanban is comparable to Scrum's project management methodology in many ways. Tasks can be classified as 'To do,' 'In progress,' or 'Done' using the Kanban Project Management approach. This Methodology enables you to make modifications after the sprint and whenever they are required.

Kanban prioritizes shorter sprints and life cycles. Tasks are frequently kept track of using a project management program or dragging sticky notes across a whiteboard. The fundamental aspect of Kanban is that it allows for regular adjustments and updates to contribute to the overall task progress.

Ways to perform E-Commerce Projects efficiently

1. Analysis of Competitors

The e-commerce industry is tremendously competitive, and online businesses must keep a careful eye on their competitors and their marketing gimmicks to stay competitive. In-depth competitor analysis and market research reveal your competitors' shortcomings and strengths, such as why a given brand is so successful and why others have failed to capitalize.

You can examine your competitors' marketing methods and learn from the mistakes made by some online competitors who failed to make it big before writing your e-commerce business plan. Simply put, it's about following best practices and avoiding costly mistakes in your internet business. 

2. Clear Metrics and Trackable Objectives

While it's understandable that every e-commerce company wants to sell more things and make a profit, it's not uncommon for them to overlook the importance of having clear objectives.

The e-commerce industry is no exception, as it requires both defined and easily trackable goals. For example, an influencer marketing campaign could aim for a direct ROI of 200 per cent through purchases generated by personalized URLs.

On the other hand, it could be attempting to generate and maintain favourable social media brand mentions. In this scenario, the initiative might be aiming for 100 such mentions in a week by generating new hashtags for the influencer.

Use KPIs that you can readily track in Google Analytics, and double-check that everything is in order.

3. Creating A Workflow System

To enable your team to deliver the flow smoothly, make sure all steps and processes are clear. First, go over all of the project's specifics and requirements with your team members. This will provide you and your team with an overview of the work to be done and the necessary data for planning, time estimation, and budgeting.

Subsequently, the accumulated data should be divided into sprints, with duties given among team members. Visualize each step to see what you already have and what you will require. Regular meetings, whether scheduled daily, monthly or after each sprint, are critical for monitoring changes and defining barriers.

4. Time Management

Since time is such a valuable resource, wasting it can be a major problem for any company. It's tough to manage a remote workforce effectively when you don't have precise data on where and how much time your team members spend.

This is where time management and tracking software can come in handy. Individuals and teams can use time monitoring and job tracking software to better manage their time by recording the time spent on each task, identifying areas of time waste, and eliminating them.

This type of software allows you to track how long your team members spend on each task. You can use this information to see if these figures meet your expectations.

5. Management of Costs

In an E-commerce project, the portal should outperform its competitors in terms of functionality. It should provide maximum value with the fewest possible flaws. The project's maintenance costs should be minimal. The project manager must understand that rework and bug fixes are a part of software development when determining the project cost. 

You won't have to cope with a cost rerun if you consider this. Rework costs decrease progressively with continuous iteration in a well-planned project, rather than exploding as the waterfall approach.

Conclusion

Now that we have learned about some tried-and-true e-commerce project management strategies, it's time to put them into action to help the entire E-Commerce platform succeed. Launching and running an internet business is a daunting task that may be accomplished with the appropriate strategy and tools.

It's critical to use a dependable, scalable, and cost-effective project management solution to keep your team, clients, and stakeholders on the same page and simplify project management.

Further Readings

• How Economics plays a key role in Business Management?
• Everything about Econometrics - Methodology and Applications
• Top Ten Principles of Economics for Better Management in day-to-day life
• How can Business Management Strategies Assist in Business Development?