6 Important Project Management Questions for Startups
If you think project management is intended for engineers and architects only, think again. Although some entrepreneurs don’t have formal training in this area, many of us business owners are constantly juggling several projects, both in our personal lives and business ventures.
A project is defined as an undertaking that encompasses a set of tasks or activities having a definable starting point and well defined objectives. Whether you’re planning a vacation trip or launching a new product, you will need to manage a project. Keith Robinson provides a clear and comprehensive guide on project management.
The first step is planning a project. Here are some of the important questions you need to factor in your planning:
- What’s the impact to the business? Assess if there is a value for doing this project. It can be reduction in cost, improvement of productivity, or increase in sales.
- Who are the stakeholders or the group that will be affected by this project? It can be your business partners (if any), suppliers, customers, or employees.
- What resources are needed? You should know how much money is needed to run this project and see if the benefits outweigh the expenses.
- Who will be the team members? Usually the stakeholders compose the team because they have the interest, experience, and expertise in the area.
- What is the timetable? A project has a termination period so you need to set deadlines and milestones.
- What is your measure of success? Create a report to monitor your progress and document the entire project. This will help you track the problems encountered and see if there is any room for improvement. This might come in handy in your next projects to come.
