Parking Lot

For those of you that I have had the pleasure of mentoring or consulting with, you know I am a huge fan of the Parking Lot.

First off, what is a Parking lot. Boring Definition:

A project management parking lot is a tool used to capture and manage ideas, issues, and concerns that arise during a project without disrupting the main agenda or workflow. It serves as a designated space to document items that are important but off-topic, ensuring they are not forgotten or overlooked.

What it really is simply a list of ideas that are “not now” projects but may be something in the future. We find ourselves so busy that it is easy to forget ideas that we produce, or our team produces that are golden nuggets, but the timing is just not right.

Key features of a project management parking lot:

1. Maintains focus: Allows teams to stay on track during meetings by setting aside unrelated topics.
2. Captures ideas: Provides a space to record valuable thoughts for later discussion.
3. Improves efficiency: Helps keep meetings within their allotted time by postponing non-urgent matters.
4. Acknowledges contributions: Ensures team members feel heard by noting their input for future consideration.

The format of a parking lot depends on the size of your company and your preference. I have companies that use the back page of their paper notebook, a shared document in any format, and finally those with full fledged Project Management offices to manage it.   It does not have to be difficult, just a list of ideas that could benefit your business or expand your business.

Tips to make it work for your organization:

Schedule time to look at it regularly, quarterly, or yearly.

Write down all ideas, so we do not forget.

Potentially have your team provide cost cutting or efficiency ideas to win a gift card or lunch with the CEO.   They are on the front lines and know best how to service the customer and fix common issues.

At Mathur Enterprise, we have helped numerous companies implement successful ideas from their parking lots by outsourcing the development and implementation. This allows full focus on the core business.

A few examples are:

We created an affiliate program and sold it into the market, resulting in 80% of new accounts to be generated through this channel cheaper than the organic growth model.

We have helped create home grown marketplace products, to increase revenue for traffic.

We have done strategic reviews of online customer flows and back-end systems to help add items for efficiency and improved customer service.

If we can help, just contact us.

If not, check that Parking lot and keep hustling.