Project management and the entrepreneur - Project Management Institute
Proper project management involves direction, coordination, reassessment, and reconfigurration in real time. The entrepreneur must get the job done on time, within budget, and to the satisfaction of customers. This results in outstanding performance and profit for the business and its investors. The primary characteristic of a successful business opportunity is the management team's ability to get things done on time at lowest cost with maximum efficiency and effectiveness.
A great deal of preparation and careful planning is the essence of success. The founder becomes planner, designer, implementor, schedule maker, monitor, procurer, and director. There is an urgent need for formal project management tools to assist the entrepreneur.
Project management and control is vital, and proper information management is critical to effective and efficient project development. The size of the project is not a factor in the assessment of the use of project management techniques in creating new businesses, rather it is the organizational and project complexity that makes the requirement significant.