Project Manage your Goal Setting and know the hindrances
Previously, when I was working as a manager in an IT department for the governer in our province, any system or project that are needed or required to be developed needs a proposal and plan. I would conceptualize and draft a project management plan on how the development of a system would be, from start to finish, who would handle which tasks, people to handle the research, people to develop and pilot test the system, who would be installing, implementing and finally, who will be the end users of the sytems. And ofcourse the budget breakdown for the cost needed to be appropriated so the project can materialize. I then submit my plans and proposal then wait for approval for budget. This was my first time working for the government and I was dismayed due to too much bickering among the executive and legislative department. Those proposals are still on the table and I have already resigned from my post. But that is politics.
Anyway this reminded me on how similar it is on how I created my goals and what I am currently doing now to achieve those targets.
I initially made a plan of action for achieving my goals, the goal does not change but the method on how to achieve those goals can be changed. I’m drafting a new project management plan for targeting my goals on becoming rich and having financial freedom.
Here is a summary so far. I have set my goals to something that I really want at the moment. But as one personal finance author taught me once, be content without ever being content. So along the way I can add more to my goals.
My goals:
Own a house
Buy my mother her own house
Money in the bank
Own rental properties
Own several real estates
Have a residual income even when not working
Travel around the world
Give back to charity
For me to attain these goals, I determined the hindrances that is stopping be from getting there. It has a lot to do with personal development, determination and motivation to pursue to make the change.
I sat down and analyzed all expenses, budget and payables.
Continued searching for a good software for inventory and managing my finances
Hindrances:
Mortgage and Loans
Credit card Debts
Poor saving habits
Low income
Huge budget
Actions taken:
1. I made a huge effort to set aside money for steady savings comprising of 10% of my salary
2. I’m now aware of the monthly proper means of budgeting. I can now better manage my budget., if there is extra unused money. I would directly set it aside to add to debt payment
3. Made the savings funds untouchable.
4. Paying more than the minimum on my credit card debts
5. For projects I get, I allot 20% of it into savings, the rest I set them aside for bigger payments on my debts.
6. I took in more projects and collaborated with marketers for more projects.
Action that needs to be taken:
1. Make it consistent
2. Get more projects that you can still manage effectively
3. Find or develop a project that can produce a residual income
So far so good, it is a slow process and somehow based from my October report I feel good I can achieve eliminating the the hindrances. Knowing the hindrances and making the adjustments to yourselft is already an achievement. After eliminating the hindrances, I’m putting on my project plan to start on action on increasing the savings and look for opportunities for investing. The more detailed the better.
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
Comments
Leave a comment