The Ultimate Project Management Framework for Startups | Servcorp
By Nina Sharpe
One of the biggest hurdles that many startups seek to overcome in their formative years is workplace inefficiency. Slow processes and poor management will slow down any business and prevent growth.
Once a workplace and workforce can start moving through tasks and projects like a well-oiled machine, success is surely just around the corner.
Startups, in particular, need to devise plans to get themselves operating at the highest level. This is because they seek to provide new products, innovations, and services that many people might not have heard of before. Introducing true innovation to the marketplace requires a level of efficiency that larger and more successful corporations would already have mastered.
Creating a successful and efficient business model relies heavily on planning and managing projects. This is why a proper project management framework must be built in order to put a startup on the fast track to success.
But what does project management entail? And how can you build a framework that is perfectly tailored to your startup?
This article will answer all of the questions above by providing a robust project management framework that applies to all startups. After reading this, you’ll be able to put a plan in place for business success.
What is a Project Management Framework?
In the simplest of terms, a project management framework is a plan that will help a startup, or larger corporation, ensure the completion of all important tasks and projects. This is extremely helpful for startups who want to show local or global clients and customers that they can reliably provide services on time.
Project management operated on one simple foundational fact: projects and tasks all have a timeline for completion.
To ensure success and survival in the marketplace, these timelines must be adhered to. That is exactly what your project management framework will seek to ensure.
Why Your Startup Needs a Project Management Framework
For startups, building this framework is hugely important for a few reasons:
- Marketplace competition: No matter which industry a startup operates in, there will undoubtedly be plenty of competition for clients. If your company reliably completes tasks and projects and can show customers that you will provide services on time, you might be able to beat out any competition and ensure long-term survival.
- Creating a workplace culture: One of the most important aspects when starting up a new business is creating a culture of timeliness. As an entrepreneur or CEO of a startup, you need to ensure that your workforce understands the importance of efficiency. By creating a robust project management framework, your employees will know what they need to do and when it needs to get done.
- Prioritising: Startups need to properly manage time and the projects they have at hand. Some projects will be far more complex than others, and take a longer period of time to complete. Some will also require the effort of more employees. Your framework will help you to create a priority list for all of the tasks, big or small, that your company needs to complete.
Many entrepreneurs and startup owners underestimate the importance of proper project management, and they don’t consider it when they work out how to calculate profit margin. However, the right framework can improve project success, and in turn, this drives up profits.
Flexibility in the workplace can also be a positive factor, especially for startups that don’t have many clients. However, being able to robustly go through a task list, and stay organised is far more important.
The reasons mentioned above should provide you with enough incentive to create a project management framework that your startup can abide by. Let’s look at exactly how to build this framework.
3 Tips for Crafting the Perfect Project Management Framework
When crafting your project management framework, consider each of the three tips below:
- Choose Your Framework Wisely
Many people who’ve never implemented a project management framework are unaware of the types that exist. There are a multitude of frameworks that you can choose from, each providing its own unique benefits and applications. Let’s look at a few:
- CCPM: This framework hones in on the people and workplace that your company provides. The methodology focuses on resource allocation to each employee, time, and rigidity in completing projects.
- SCRUM: This is the simplest framework that you can use. Simply implement daily meetings at the start of every workday so that the team can state which projects they will be working on and finishing.
- Lean: The lean framework is perhaps the most popular of all. When using this framework, your team will focus on delivering quality services in the quickest time possible. Resource allocation is once again hugely important for the success of this framework.
- The Best Frameworks are Lean, Agile, and Powerful
So, as mentioned above, the lean project management framework is perhaps the most popular out of all stated. There’s a good reason for that. Every process in the startup needs to flow seamlessly into one another.
For this to be properly implemented, all communications between different team members and company departments must be clear and concise. Every worker needs to know their role and what it is that they are contributing towards.
Hosting daily meetings and combining SCRUM and Lean frameworks is a great way to ensure proper workplace communication.
All of these project management practices must also be agile to produce even higher levels of success. This means that your team needs to adapt well to changes in timelines, discarding certain projects and making changes in priority as the need arises.
3) Resource Management Must be On Point
While discussing the various project management frameworks above, resource management was mentioned multiple times. This is because allocating resources is hugely essential when creating and maintaining a framework.
In order to be lean and agile, your team needs to be respectful of the resources they’re provided, whether these are time or tools. They need to use what they have at their disposal and not be wasteful. This will contribute massively to the efficient completion of tasks and projects.
It's clear that project management is essential to the long-term survival and success of any new company or startup. Without a proper project management framework, your company might be swallowed up by competition in the marketplace.
Be sure to follow the tips provided above to craft the perfect project management framework for your startup. Success is built on structure, and using the right framework can set your business on the right track.