When should you Use Growth Trackers and Project Updates?
In this skilleton, we cover the use of growth trackers and project updates as tools for communication.
Before going into their best practices, let's first understand the situations that call for these formats of communication.
High Frequency Updates:
One key factor in choosing a communication format is the frequency of information updates required. Growth trackers and project updates are perfect for high-frequency communication.
Examples include a real-time sales tracker, a daily-updating Management Information System (MIS), or project updates that are disseminated twice a week.
Established Context with Stakeholders:
These communication tools work best when stakeholders already understand the context. This allows individuals to autonomously access and interpret the updates.
When the flow of information is already clear, stakeholders can effectively track progress and metrics on their own, without needing additional explanations.
Stable Conditions:
Use growth trackers and project updates when there are no significant deviations in the data being monitored. These tools are ideal for stable conditions where changes are minimal.
If significant deviations occur, it might be more effective to switch to a detailed review format to address these changes comprehensively.
Takeaway:
Growth trackers and project updates are essential for effective communication under conditions of high frequency, clear stakeholder context, and stability in the data. They help maintain streamlined communication and decision-making within teams.