Tracking tasks in PE
Ignore title.
What are your best practices for task management in PE? In banking, it was rather simple / monotonous where I knew I had to build out CIM pages or update a model and I would send it off and someone else would give me comments.
Vs. in PE, it's much less structured and a lot more autonomy - you have enough rope to hang yourself with.
So, just curious what some associates, sr. associates and VPs use to track / stay on top of / follow up on tasks outside of the traditional pen & paper list.
Based on the most helpful WSO content, transitioning from investment banking to private equity (PE) indeed requires a shift in how one manages and tracks tasks due to the difference in structure and the level of autonomy. Here are some best practices that have been shared by PE professionals for managing tasks effectively:
Digital Task Managers: While the traditional pen & paper list is a classic, many have moved to digital platforms for better organization and accessibility. Tools like Microsoft To Do, Asana, or Trello allow you to categorize tasks, set deadlines, and even share tasks with team members. These tools can be particularly useful for managing multiple projects or investments at once.
Excel Trackers: An Excel tracker remains a popular choice among PE professionals. It allows for customization based on personal or team needs. You can create columns for task priority, status, deadlines, and specific notes. The advantage of Excel is the ability to filter and sort tasks as needed, providing a clear overview of what needs attention.
Regular Check-ins and Updates: Establishing a routine for regular check-ins with your team can help ensure that everyone is aligned and that tasks are progressing as expected. This could be in the form of weekly meetings or brief daily stand-ups, depending on the intensity of the project.
Email Folders and Flags: For tasks that come through via email, using your email client's organizational features can be incredibly helpful. Creating specific folders for different projects or types of tasks and using flags or categories to mark emails based on urgency or status can help keep your inbox manageable and ensure important tasks don't get lost in the shuffle.
Prioritization Matrix: Given the autonomy in PE, it's crucial to prioritize tasks effectively. Using a prioritization matrix (e.g., Eisenhower Box) can help you decide on tasks to do immediately, schedule for later, delegate, or not do at all. This helps in focusing on what truly moves the needle.
End-of-Day Review: Spending a few minutes at the end of each day to review completed tasks and prepare for the next day can help in staying organized and proactive. This practice ensures that you're always aware of your priorities and can hit the ground running each morning.
Remember, the key to effective task management in PE is finding a system that works for you and consistently applying it. Given the less structured environment, it's even more important to develop and maintain good organizational habits to ensure success.
Sources: Q&A: Former Strategy& associate, Saving Time Bitches (Investment Banking & Private Equity), Got this task during an Private Equity internship interview, how to handle it?, how to manage your associate?, How to deal with Managing Analyst?
Just a to do list in OneNote that I keep up to date (same as you would do with paper). Also I take notes on every call and have those files under tabs for each project, again in the OneNote. Lastly, I keep my Outlook inbox tidy with a folder for each project. None of this is rocket science but does the job it seems like
Yeah doing exactly this strategy. OneNote to do list and inbox zero is the way to go. Anything still in my inbox has a related action item. Otherwise filed away in folders for sourcing, execution, fundraising, individual deals, etc.
I try to remember. I don't do folders
Same as above (OneNote, inbox zero). A bit more detail, I organize my OneNote to do's in a table (columns for deals/portfolio companies/other initiatives; rows for 'to do', associate(s) to do's, awaiting review by superiors, waiting on 3rd party, awaiting scheduling). I have similar folders in Outlook (which helps achieve inbox zero). I then review my relevant Outlook folders at least once a day to file things (I use SimplyFile plug-in) and identify items requiring follow-up.
I’ve always been shocked by how few people use the Microsoft To Do app. I’ve tried OneNote and Excel, and I find that they don’t compare to To Do. Most people don’t even know it exists or have barely explored it.
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