- My business is small and I don’t need the administrative burden of project management. In the context of this article, when we refer to small businesses, we are referencing organisations with 100 or less employees. The best carpenter, mechanic, salesperson, computer programmer or other entrepreneur that starts their own business will, at some point, need to do a risk assessment, a marketing campaign, a loan application, or expand or do business with larger companies that have formal management processes, including processes for project management. Being knowledgeable in project management and applying associated tools such as stakeholder analysis, communication planning and risk management will not only assist in many of these tasks, but may also afford a competitive advantage over competitors who do not employ project management.
- I am an expert in the industry, I don’t need project management. Many if not most small businesses are started by a person who already has expertise in their industry. Having industry expertise is a good thing to leverage; however, project management should still be used to convert plans into reality. If you query the internet for the common reasons that small businesses fail, some of the top reasons cited are poor planning, lack of capital, and lack of management. Project management, while not a guarantee of success, can assist the small business in mitigating some of the common pitfalls that cause businesses to fail.