Growing your business using proven project management skills

Project management training isn't just for large corporates - it can help SMEs too.

by MT Staff
Last Updated: 31 May 2018

For large organisations, projects are commonly major pieces of work that go beyond the day-to-day of business operations.

These projects tend to be time-bound, tightly resourced, defined by a clear set of objectives and often resulting in transformative benefits to the business.

But for many smaller high-growth businesses, meeting deadlines, staying lean, hitting targets and achieving critical success represents a constant part of everyday life.

Many entrepreneurs may make the assumption that project management training is for big organisations or that it’s inordinately complex and too unwieldy to be deployed within an operation of their size.

But the skills and methodologies to be found within the project management discipline are accessible to time-poor entrepreneurs and can be easily transferred into the SME environment.

First of all, learning good project management practice doesn’t require a major time commitment. Axelos provides the industry-standard qualification in the form of the PRINCE2 courses. Entry-level certificates get the basic principles across without swamping delegates in technical jargon or complex theory.

And the important thing to note is that these are very often short-run programmes that - like the PRINCE2 weekend courses London - complete within just a few days.

So what are the core benefits of taking up project management course for business owners?

The core project management skills required to help grow your business lie chiefly in:

  • Planning - understanding the processes and tools that will enable you to channel your commercial vision into a practical route map covering budgets, KPIs, monitoring, risks and deliverables amongst other things. Some PRINCE2 training courses can offer this and much more within just two days.
  • Information sharing - understanding how to record, analyse and present data in a simple and clear way that’s intelligible across teams.
  • Team management - understanding how to effectively resource your team (including training requirements), communicating expectations and assigning roles appropriately. Communication helps to form strong bonds within teams and can often mean the difference between success and failure.
  • Measurement and evaluation - Peter Drucker’s maxim ‘if you can’t measure it, you can’t manage it’ holds true. PRINCE2 training will enable delegates to understand how to generate baseline measurements for benchmarking, and critically assess the performance of business operations, from gathering the right level of information and structuring it in a way that informs business decisions.

Project management methodology can not only help to support business growth but also protect an SME against the risk of problems arising that can knock the company off course. The importance of reducing those risks cannot be overstated - in the SME environment a poorly executed plan can have severe repercussions.

Just as each project is unique - equally, every fast-moving SME is unique too. Project management know-how can be adapted to enable business leaders to control resources and furnish teams with the guidance and motivation they need to succeed.

To find out more, the chartered Association for Project Management is an excellent and very accessible resource.

Image credit: Santypan/Shutterstock

Find this article useful?

Get more great articles like this in your inbox every lunchtime