Team Management:

Utilize the strengths of individuals.  Learn early what your team members’ strengths are and use them to your advantage by assigning tasks accordingly.

Use a work break down structure (WBS). Clearly define the specific part(s) of the project that each team member is responsible for in the WBS.  Create it early and enforce it.

Try to have fun with your team members.  It enables open communication and you get to have fun! Try out-of-school meeting places to spice up team dynamics.

Budget:

Add an extra 30% to your predicted budget.  Plan to spend at least 30% more money than you think you will up front.  This gives you a reserve that you can use for unknown unknowns. 

Time Management:

Don’t underestimate the time the project will require. It takes a long time to learn new things, plan for this.

Don’t forget about lead time.  Ordering components takes a lot of time and can get you in big trouble if you’re not careful.

Don’t underestimate the time required for programming.  Debugging takes time, lots of time.

Fabrication takes a long time.  Make your designs simple to machine and put together.

Prototyping:

Create prototypes of your ideas during the early stages of the design.  Ideas tend to work beautifully in your head but once you see them in real life they don’t work at all.  Creating prototypes allow you to see problems early when you can still fix them.

Design Process:

Don’t get married to one solution. Expect problems during the design process and be ready to accommodate changes in all stages. 

Look at your logbook as a tool not a chore.  It may seem like a waste of time to write in your logbook everyday but later in the project it is easy to forget the details of your design.  Only make entries that help you in the design process. 

Research electrical components early.  Sometimes it takes a lot time to find affordable parts that meet stringent project specs.

Presentations:

Practice team presentations at least a few times.  It might be awkward but it is worth it and will make you look better in front of the people giving you their money and time.  Time the presentation and be prepared to adjust your speed during the speech.