How to effectively apply project management principles to your business model

How to effectively apply project management principles to your business model (Photo Courtesy: Vernita Naylor (JEGroup))

At least three times a day, we usually hear or read about various ways on how to manage our projects or businesses. It appears that everyone is on the project management bandwagon. The essence of project management are the methods and techniques used to execute a project. A project is a task to be completed which normally encompasses elements of a scope or goal, timeline and budget or costs that is associated with it.

To help streamline the process and eliminate any further confusion here are some effective (yet simple) ways to understand project management. To help avoid duplications, overlapping roles and action items plan carefully. There are key steps to becoming an effective project manager:

• Define scope clearly

• Create plan of action

• Create a simplified communication process and plan

• Define roles and responsibilities

• Manage the project thoroughly

• Create a realistic budget

• Create a static timeline

• Add contingency to the timeline and budget to help with creep and/or overages

• Create a completion and close out plan

These key steps are crucial to managing your project effectively. You must first fully understand the project and the desired results. Even with a team there must be leader that is responsible for all facets of the project and the team. There are several books on the subject of project management but here are a few classic resources to help you become more equipped in understanding the project management process:

• 5-Phase Project Management: A Practical Planning and Implementation Guide by Joseph W. Weiss and Robert K. Wysocki

• Managing Projects in Organization: How to Make the Best Use of Time, Techniques and People by J. Davidson Frame

Both books take you through each step of the project management process. Here you are able to delve into the steps more thoroughly and at your own pace. Each book has its own uniqueness and can take you from simplicity to complexity the choice is yours. Regardless, of which book you choose you will be further along in the process than from which you started in garnering the skills to being an effective project manager.

If you want to stay up-to-date on SBA programs, government lending, business events, other business initiatives or business highlights subscribe with us. Have a great story, comments or know of a business making a difference within the community both locally or nationwide contact me at or visit us at


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s