Managing multiple projects is usually stressful but it does not have to be that way.

Most probably you will be in the situation that another project you manage is well under way when they throw another one in your lap. Where and how to start? 

If you are the PM on the client-side, check if there are mutual goals for both projects. Usually there are. Management wants to have one PM for interrelated projects. If this is the case, it will make it easier for you to manage them. After you have aligned the goals, check and analyze mutual risks.

Now, look for ALL inter-dependencies. Deliveries from one project could affect delivery of tasks on another. This will affect your critical path on existing projects and change the overall Risks impact and probability on both projects. Be aware of this, as some Risks that did not seem to be critical could be now! For this reason reevaluate all the risks.

Also, check and use the opportunity of all the inter-dependencies. 

If Steering Committee members for both projects are the same people (or majority of them are) you should have one Steering Committee meeting for both projects. By doing this, you will get fast and effective decisions affecting both projects and at the same time saving time and effort. On the other hand, you could have longer SC meetings. However, the overall effectiveness will be higher.

If you can and want to use the same vendor for both projects, you have the opportunity to lower the cost to a certain extent. Also, by doing this, you can speed up the procurement process shortening the project duration if needed.

If you are on the vendor side, you probably have different companies to deliver your projects too. On the other hand, the industry and/or product you deliver should be similar, giving you other opportunities to save on time and/or cost. However, this situation is a little bit more complex. Usually clients do not care for obligations you might have towards other clients. Do not commit to Schedule before you are sure you considered all obligations, risks and planned tasks for other projects. For example, do not schedule the SC meeting on the same day for two different clients.

In both cases you will be in the situation that many things are interdependent. Delivery Team engagement, same internal stakeholders, tasks, project goals, risks. 

If there is a deadline constraint on one of your projects, it is highly important to plan in detail how to achieve it. When you manage multiple projects you will have very little opportunities to maneuver around go live dates. And it is hellish to have Go Live for two projects relatively close to each other. Hence, planning is crucial. So, prepare a schedule and pay attention to details well in advance. 

I will cover the most difficult situation when you have Go Live constrained as a fixed date that cannot be moved. At the same time the schedule is tight and you have very little project float.

Once the planning is over and you start the execution, you want to be prepared for possible delays as risks start to unroll and become issues and-or problems.

When managing multiple projects you simply MUST have plan B and plan C prepared from the day one to be able to deliver on time.

If we strike out the Crashing and Fast tracking options you will first consider and use, what options are available? Not too many.

Make sure you have enough contingency in budget at your disposal that you can use at any time.

From day one, be extremely firm on refusing any CR that is not critical and must-have to fulfill project goals. Forget about getting more revenue for the Company (vendor side) or adding some last-minute features to impress Sponsor or Stakeholder (internal side).

Know by heart all tasks on a critical path and pay attention to them all the time. Engage the best resources on these tasks whenever you can. 

Use every opportunity to negotiate time saving. Use budget contingency for this purpose. But focus only on overall project time saving. Tasks on critical path. 

For example, Delivery of Hardware will take four weeks. There is available Hardware in stock a little over the capacity you need and slightly more expensive. This will save two weeks on a critical path for 30% of your contingency budget. Remember, time is critical, not the budget. If your budget increases by 5% and you deliver all project goals on time, the project will be perceived as a success. 

If you save budget and don’t deliver, it will be marked as failed. Longer ROI is better than completely lost project investment. Satisfied client using the product while you got a lower project margin is better than an angry client or no client regardless of the margin you achieved.

If one of the projects is flexible with delivery date, postpone Go live for this project to deliver the other one on time.

Constantly look for the things happening in your environment, outside of your project, look for the things you can use to project advantage. For example: new technologies, resources from other projects, knowledge and deliveries you can use from other projects, new features becoming standard solution in next release saving customization effort…

Last resort you have is to be ready to cut the scope. Deliver what is a must-have for Go live. Deliver the rest as soon as you can after Go-live. Some reports or modules could be delivered in later stages. Some functionalities are not critical for Go-live.

And final advice, whatever is happening, whatever issue or problem you have on the project, the best policy is to ALWAYS manage with integrity, transparency and total honesty. In my experience it proved highly effective in the long run when Managing Multiple Projects to many clients and sponsors. More details on this topic you will find in a blog post about Integrity.