Small-business management requires planning. So, what are the qualities of a super PM? Generally speaking, the project management process includes the following stages: planning, initiation, execution, monitoring, and closing. Entrepreneur PMs know that. Entrepreneur PMs are driven professionals who strive to excel, and the thought of being able to interact with great minds daily, guiding them and extracting ideas, excites them. While most managers are very capable and dedicated to their work, only an entrepreneur manager will, consciously and subconsciously, act as if they have personal equity in the initiative’s success or failure. A Girl's Guide to Project Management is a blog for project, programme and portfolio managers and project delivery professionals. The project manager creates a schedule and sets deadlines. Because of this, attention to task sequences and timelines are very important in this type of project management. It can involve a one-time project or an ongoing activity, and resources managed include personnel, finances, technology, and intellectual property. Characteristics include the ability to take calculated risks and accept the realities of change and uncertainty.”. The one who everyone wanted on their team and the one who always managed to deliver the desired results. They will do whatever effort is required to find the solutions that will guide the team and project towards success. Entrepreneur PMs realize the importance and centrality of their team’s effort and work to deliver great results. document.write(''); document.write(''); document.write(''); document.write(''); 5 Best Practices for Successful Project Implementation. Their sense of project ownership is always high; innovation is their way of life; their appetite for risk is high; they are always striving for the betterment of the project. When a large IT company, such as Cisco Systems Inc., acquires smaller companies, a key part of the project manager's job is to integrate project team members from various backgrounds and instill a sense of group purpose about meeting the end goal. They set a budget that includes sufficient funds to keep the project within budget even in the face of unexpected contingencies. Similarly, for each and every project an entrepreneur PM will take extra initiative and consideration to ensure its success. Should Innovators Listen to Their Customers? According to the PMBOK (Project Management Body of Knowledge) 3rd edition, A project is defined as a “temporary endeavor with a beginning and an end and it must be used to create a unique product, service or result”. ... Project managers are a balance between small details and the big picture. The project manager also makes sure the team has the resources it needs to build, test, and deploy a software product. Different industries have developed project management methodologies or frameworks that are specific to their unique needs. A Program Evaluation Review Technique (PERT) chart is a project management tool that graphs a project's timeline according to the individual tasks. At its core, high-quality deliverables are a result of providing customer value, team interactions and adapting to current business circumstances. He would love to hear from you and can be reached at [email protected] The computer software industry was one of the first to use this methodology. This mindset of “personal ownership” is what sets this type of a PM apart from others. They know that while they themselves cannot perform all the tasks and roles on a project, they are ultimately responsible for its success or failure and the impact on its stakeholders. They proactively approach each and every project and will demolish every barrier erected in their path. One of the sayings I could easily be accused of overusing is this: … Mindset is a mental attitude or inclination. What does it take to move beyond the ordinary and into the extraordinary? Project management keeps everything moving smoothly, on time, and on budget. Often, a project manager will use visual representations of workflow, such as Gantt charts or PERT charts, to determine which tasks are to be completed by which departments. A project is always undertaken to create something new or unique, even if it is a small update. He enjoys working on complex projects and with cross-functional and geographically dispersed team environments. Project Management and Entrepreneurship Development This book is a part of the course by Jaipur National University , Jaipur. But, in general, entrepreneurship highlights business creation and thus management is required to achieve objectives of an … project management, henceforth EPM, and to research to what extent this concept applies to various project types. It is not difficult to assign blame for failure, and one can find innumerable reasons for it, such as blaming the SMEs, sponsor, budget, the team, etc. The best PMs have learned through their experiences that to exceed rather than just succeed one needs to think beyond the basics of project management. Agile project management does not follow a sequential stage-by-stage approach. For example, in architecture, the plan starts with an idea, progresses to drawings and moves on to blueprint drafting, with thousands of little pieces coming together between each step.