New Business Synergies Approach

The entrepreneurial approach to project management requires you to manage the project as if it were an independent business venture. But you must also manage with the larger organizational system in mind. You need to understand how the elements of the project affect the business as a whole and how elements of the business influence the project. This dynamic new approach to projects will serve you well whether your project is in a business, a non-profit organization, or a governmental agency... More

   

   

 

The Dual Project Management Orientation
 

Business Orientation – concentrates on the entire life of both the project and the project outcome, from birth to death.

Contains marketing risk: the probability that the company can sell the outcome.

Technical Orientation – concentrates on the project itself, which produces the outcome within given time and budget constraints.

Contains technical risk: the probability that the project team can actually produce the desired result.

   

 

 

New Tasks of the Project Manager

Entrepreneurial management is fundamentally different  from corporate management that is focused on delivering the annual operating plan. You need to consider your project and your project outcome lifecycle in a wider context of the overall organizational strategy. Unlike traditional project manager who has to meet static constraints of project deadlines, budget, and outcome, you should act as an entrepreneur and deal with a dynamic business system... More

 

 

 

New Mindset of the Upper Management

The parent organization should treat the project as and internal start-up or a spinout that, in a competitive environment, develops an outcome that supports the overall organizational strategy and contributes to its sustainable competitive advantage... More

    

 

 

New System of Success Measurement and Control

Entrepreneurial approach to project management that understands the dynamics of the marketplace and competition may require radical change in the project success measurement and control systems of most organizations. Business-oriented controls should focus on market performance, timing and investing for higher return rather than on meeting fixed specifications and constraints. They must resist the temptation to use operating-plan logic to manage new ventures... More