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2 November 2005

Project Managers and Entreprenuership

The relationship between project management and entrepreneurship interests me because

  • It seems to me that entrepreneurship is an inherently risky business, and
  • Project management has a strong focus on risk management

Taking a project management approach to entrepreneurial activities seems to me a practical and sensible way to improve a venture's chance of success.

However, a challenge lies in the personality profiles of many project managers who are the sorts of people who want as much information as they can get and want to plan things maybe beyond what entrepreneurial ventures can sustain. Many PMs seem risk averse, and interested in ensuring they have buy in and support from sponsors and key stakeholders.

Entrepreneurship involves a lot of uncertainty and few stakeholders who are interested in the details of your plan (apart from the money people maybe - but even then, how much detail are they looking for?) In a new business start-up for example you can only plan so far before you just have to go do it.