UNDERSTANDING the PRINCIPALS of PROJECT MANAGEMENT

Posted on Posted in Project Management

project-managementMany small business owners, find after completing the task of reviewing their business’s  strategy that they have identified a specific product or service requiring further development. When seeking the required professional business advice in order to get the desired result for their business, they are advised to implement a suitable project management strategy.

The fact you are reading this article assumes you are a small business owner, moreover, you consider project management to be unnecessary simply because you do things on a smaller scale. In reality, even your small business has to develop the very same key control processes as do any of the larger firms. For example, your small business has to:

  • Develop and execute a suitable project management plan,
  • Develop a business budget.
  • Estimate time and control costs.
  • Satisfy its customers or clients with efficient delivery of its products or services?
Frequently Asked Questions (FAQs)

When considering implementing a suitable project management strategy and to assist you in understanding how to get the desired result for your small business. Here is a list of answers to some of the FAQs that we hope you will find useful. If you have any further questions, please Contact Us.

What is Project Management?

In effect, project management is the coordination of information. It involves the collection and application of following information such as skills, knowledge, processes; and activities.

Put simply, Project Management is a group effort. It involves working in harmony with the shared goals of:

  • Meeting a specific project objective, andproject
  • Achieving effective results.
Reasons for implementing a Project Management Strategy?

Your intentions for implementing a project management strategy should be to meet your small business’s objectives. For example to help you:

  • Increase sales;
  • Bring in new clients or customers; and
  • Diversify your business’s opportunities.

 

Who is Responsible for the Project?

Appointing an experienced project manager to help in managing your small business project can prove to be beneficial. The project manager will work with the project team during the planning stage. When the planning has been completed the project manager will become the main coordinator. His/her responsibilities will include:

  • Determining the project goals and objectives;
  • Determining the project requirements;
  • Defining the project deliverables.
  • Brainstorming, in order to identify any obstacles, and develop suitable alternatives to meet these obstacles.
  • Indicating when the project should come to its logical conclusion.

Reminder: It is important to note that input from all participants is essential as they will be responsible for the work and in bringing the project to fruit.

 

Should you develop a Project Management Plan?

ux-788002_1920Most definitely. In fact, the Project Management Plan should identify the project deliverables and the activities needed to complete the deliverables. Furthermore, the project team should reference the Project Management Plan to ensure that the specific product or service:

  • Meets the customer’s or client’s expectations; and
  • Fulfil their needs.

 

What is a Project?

A “project” is a particular activity or an initiative that you can launch to create a unique product or service. It is separate from the regular running of your small business. A project is a particular activity, supported by the routine, but unique in that it involves specific attention during an established timeframe (i.e. it has a defined start date and an end date).

 

SUMMARY

A successful project will be one that has been managed effectively, from planning, through to evaluation, and at its conclusion.