Project Management Model for Entrepreneurs

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Project Management Model for Entrepreneurs: Entrepreneurship is becoming now a trend, but not everyone has the character and personal traits to be an entrepreneur. What are the PM value for entrepreneurship projects? In this presentation we discuss this topic including the SUKAD CAM2P™ Model

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Project Management Model for Entrepreneurs

  1. 1. Project Management Model for Entrepreneurs Mounir A. Ajam © 2008-2013 SUKAD
  2. 2. © 2008-2013 SUKAD
  3. 3. Regional Reality Unemployment among youth is high and growing to critical levels Globally, entrepreneurs + SME are major contributor to economic growth and employment Many in the region recognize this and are promoting concept of entrepreneurship but there are challenges and risks © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs 3
  4. 4. The Challenges Entrepreneurship is becoming a trend and being an entrepreneur is cool; in the current environment Not everyone has the character and personal traits to be an entrepreneur The entrepreneurship ecosystem is still highly immature across the region Success require more than passion or ideas © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs 4
  5. 5. The Risks Failures --- which is fine, as a way to learn, but can be demoralizing Especially in our culture that ‘shame’ failure North America stats: 1 in 5 (or 10) new businesses survive beyond 5 years! How to minimize threats and maximize opportunities to enhance the chance of success? Proper business planning – but is it enough? © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs 5
  6. 6. © 2008-2013 SUKAD
  7. 7. New Idea = Venture = Project Every new idea of a business, or even NGO, can lead to being a project BEFORE Operations! A project is what we need from idea to startup (opening our doors to provide services) BEGIN Operations! Once we are operational; we need projects To develop new products or grow the business © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs 7
  8. 8. 8 Product life cycle From PMP Exam Prep Study Guide – Rita Mulcahy © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs
  9. 9. 9 Project Life Span “Cycle” Idea Initial Decision Pre-Project Study Transition Phase 1 Phase 2 Phase n Final Accept Start-up or Commission Intermediate Phases Project Life Cycle © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs Final
  10. 10. The Stage Gate Process Projects phases/stages typically include gates at the end of the phase/stage A Gate is a “decision point” The number of gates varies © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs 10
  11. 11. Importance of stage gates © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs 11
  12. 12. Launch Initial Ops Detailed Planning PM Planning 7 6 Close Definition Implementation Close Operation Readiness FS: PAD: BRD: Feasibility Study Project Authorization Document Basic Requirements Document 8 Project Implementation PDP: Ops: COR: Project Detailed Plan Operation Close Out Report © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs COR PAD FS Idea Pre-Launch 5 Accept. Basic Req’ts Studies Project Delivery 4 3 PM Plan 2 BRD 1 Development PDP Concept Model Handover The SUKAD 2PTM CAM 12
  13. 13. The SUKAD 2PTM CAM Model © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs 13
  14. 14. © 2008-2013 SUKAD
  15. 15. Project vs. Business Plan Usually the focus from Business Schools is on business planning. Which put more emphasis on the operation and management! We need a proper feasibility study that blend the business focus with project management focus; taking the venture from idea to operation smoothly! © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs 15
  16. 16. 16 Requirements Once we determine feasibility (sound idea and we can actually implement successfully) it is time to define all the requirements (technical, business, management …) to help us focus our project and deliver the business’ © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs
  17. 17. Project Management Plan With the requirements defined AND stakeholders aligned … we establish a Project Management Plan! The PM Plan purpose is to develop a proper plan, which will allow for the smooth implementation … and … operation readiness! © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs 17
  18. 18. Implementation Focus is on the BORING stuff; office, licenses, staffing … and The critical stuff: $ © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs 18
  19. 19. Operation readiness Operation readiness is critical, which include establishing IT and telecom for the business, marketing, proper HR policies, recruiting, training … © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs 19
  20. 20. References from our writings 20 10 Entrepreneurship Myths and Thoughts from Entrepreneurship Summit http://blog.sukad.com/20121214/10-entrepreneurship-myths-andthoughts/ Is project management the missing link for entrepreneurship? http://blog.sukad.com/20121217/is-project-management-the-missinglink-for-entrepreneurship/ A project management model for launching a business http://blog.sukad.com/20121219/a-project-management-model-forlaunching-a-business/ © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs
  21. 21. SUKAD contact information Main Website: http://www.sukad.com Learning Division: http://learning.sukad.com Solutions Division: http://solutions.sukad.com Knowledge Portal: http://knowledge.sukad.com English Blog: http://blog.sukad.com Arabic Blog: http://blog-ar.sukad.com SUKAD main email: info@sukad.com © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs 21
  22. 22. SUKAD social media 22 Facebook Page: http://www.facebook.com/SUKADgroup Group: https://www.facebook.com/groups/sukad/ Twitter: http://twitter.com/SUKADgroup YouTube: http://www.youtube.com/user/SUKADipms LinkedIn: Page: http://www.linkedin.com/company/sukad Group: http://www.linkedin.com/groups/SUKAD-GroupIntegrated-Project-Management © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs
  23. 23. From Facebook yesterday morning © 2008-2013 SUKAD Group (www.sukad.com) – Project Management Model for Entrepreneurs 23
  24. 24. Thank You This presentation is per the Creative Commons Guidelines Refer to access information on PM Knowledge Portal © 2008-2013 SUKAD

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