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Startup Bootcamp UK – Session 1
How to Use Project Management to Build Your Startup By Zulfi Deo: Startup Expert & Coach
Welcome to EFactor, the Largest Entrepreneurial Network in the World!
• A social media network of 1.5mio entrepreneurs & startups worldwide
• Focus countries: US, UK, IN, NL, GE & Scandinavia
• 100 events globally per year
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• Customized coaching programs
• Over 250 Knowledge sharing documents and more then 1.300 blogs!
- Over 70% New and Small Business fail within the first 3 years of being Set Up
- The biggest cause of failure is Over Expansion - Most Companies in the UK do not use Project
Management to organise and manage their activities !
- One of simplest ways of lowering the risk of failure is to organise the activities of your business
Project Management
Introduction 1. What is Project Management (PM)? 2. How is it relevant to your Business? 3. Different Types of PM Methodologies 4. What does it means to Manage a Project? 5. PM Tools 6. How PM helps to deliver Quality consistently? 7. How PM helps to identify and manage the risks and complexities effectively? 8. Support
Project Management 1. What is Project Management?
• A Project is a temporary endeavour (activity) to create a unique, product, service or result. (p.5 PMBOK)
• Project Management is managing this temporary activity • Example: Building a new capacity in a company is a project because it is temporary. How does this help my company? - It helps to ensure you know how much time this will take? - How many resources need to be invested in this activity - What kind of quality standards you need to plan for ?
2. How is it relevant to your Business?
- As a management concept PM helps you to organise your company - This means you can identify how many resources are being committed to
what aspect of your business
- It also means you can monitor the progress various activities of your business are making
- This helps you to identify problem areas early and allows you plan for
problems before they become even bigger problems
Project Management
Project Management
3. Different types of Methodologies A methodology is how you organise your projects Two broad types of PM are:
• Classical PM • Agile PM
• Classical PM – is usually used in situations where the project is repeated on a regular
basis. It helps to ensure that all aspects have been taken into account and meet the quality standards set
• Agile PM – is usually used where there is higher degree of uncertainty of what the outcome is likely to be, e.g. expanding into a new market, where there may be a high risk of failure. This is common in the case of startups and projects where no one has done something similar before.
Project Management
4. What does it mean to Manage a Project?
• In general terms managing a project means that : - The Scope of the project is identified and delivered on - The Quality of the output is up to the standard required - The Time of delivery is within the agreed time framework - The Budget of the project is within the agreed amount - The Resources needed are available - The Risks and Complexities are understood and managed
• They are all managed to ensure the initial aim is achieved, within the time agreed,
up to the quality expected and within budget.
Project Management
5. PM Tools PM Tools are techniques that allow the project to be managed effectively. This means they allow the scope, quality, resources ,etc. to be managed to allow the end to be achieved. They range from the Gantt Chart, PERT to CPM. If you click on them you can gain access to the Wikipedia definition and explanations. They are examples of commonly used PM tools. These tools ensue you can organize the Project and measure its performance.
Project Management
6. How PM helps to deliver Quality consistently? • Quality is an issue which will make or break what you do. Your price will focus on
the quality of what you provide • If high quality then your prices will be high • By making sure your quality is appropriate for the purpose and is delivered
consistently you will make sure the end user gains the experience initially intended on a regular basis
• E.g. if your customers are paying you for a good quality service then they expect a
certain standard of Service / Product • PM allows you to deliver up to this standard consistently
Project Management
7. How it helps you to identify and manage your Risks and Complexities effectively? • Risk: is the certainty of an event to occur • Complexity: composed of many different parts
• Every decision you make while you managing a project will have an impact on
other aspects of the business
• This means if you decide to increase the time it takes to finish the project it may have an impact on the clients ability to sell what you are making for them and therefore be of no use !
• PM allows you ensure you understand these concerns before you start. So you can
plan to manage them as opposed to being surprised when they occur !
Project Management
8. Support -Free Articles/ Tips on Project Management http://www.tenstep.com/ - Free Weekly Tips -Free iapp MBA for Startups http://itunes.apple.com/gb/app/mba-for-startups/id428226713?mt=8 -MBA for Startups Book http://www.lulu.com/spotlight/ZulfiqarDeo -Free New and Business Mentoring Meet Up Group http://www.meetup.com/BusinessMentoring/
Next Startup Bootcamp UK Sessions:
• 7 March: The Importance of Market Research when starting a Business
• 4 April: How to Optimize the Use of Technology to Accelerate Success
• 2 May: Marketing Management to Support Sales
• 6 June: How to Use Communication to Enhance Growth
• 12 September: HR – an underestimated area in Startups
• 3 October: Strategy: How you go about Doing what You are Trying to Do
• 7 November: The Power of Understanding your Startup Financials
DO NOT FORGET TO REGISTRATE: WWW.EFACTOR.COM/EVENTS
Thank you!
