Project Management and the Small Business Owner

Abstract

Most small business owners feel they do not have the time, energy, or resources to properly implement project management processes; however, it is exactly because of this lack of resources that entrepreneurs need to implement project management methodologies.

We have identified six key steps that entrepreneurs should take when managing projects:

1. Identify the project
2. Research
3. Develop the plan by breaking it down
4. Determine how to resource the project
5. Execute the project
6. Close out

Applied correctly, these steps can be a game changer for the small business owner who is also an entrepreneur. Project management skillsets give you the ability to change direction and realign your resources quickly. Moreover, over time, project management skills help you to identify, analyze, and actively engage your true goals and objectives so you are successful.

The Business Case

Most small business owners feel they do not have the time, energy, or resources to properly implement project management processes; however, it is exactly because of this lack of resources that entrepreneurs need to implement project management methodologies. When I worked for Fortune 500 companies, I could safely assume that the resources needed to accomplish the goals set before me existed. I may have had to justify the&…