Project Management in the Small Business Environment

1. Project Management in theSmall Business Environment LIS4920 Fall 2007

2. What Are the Basic Tasks? Write Documentation Develop Timelines Manage Deliverables/Milestones Manage the Team Manage Expectations Provide a Single Point of Contact Document: What (exactly) is to be done (functional spec and scope definition) When it will be done (timelines) What will be delivered as a result of your efforts and when (Deliverables/Milestones) Who will do the work (WBS) Single Point of contact (Communications) Document: What (exactly) is to be done (functional spec and scope definition) When it will be done (timelines) What will be delivered as a result of your efforts and when (Deliverables/Milestones) Who will do the work (WBS) Single Point of contact (Communications)

3. Should We Do This Project? Is it within our ‘Core Competency’? Can we do it profitably? Can we do it timely? coco

4. Core Competency It provides customer benefits It is hard for competitors to imitate It can be leveraged widely to many products and markets. http://en.wikipedia.org/wiki/Core_competency core competence is something a company does especially well relative to its competitors. Honda, for example, has a core competence in small engine design and manufacturing; Sony has a core competence in miniaturization; Federal Express has a core competence in logistics and customer service. Typically, a core competence refers to a set of skills or experience in some activity, rather than physical or financial assets. For example, an individual who becomes certified as a Microsoft Certified Software Engineer (MCSE) is said to have a core competency in certain Microsoft systems and networks. Sony, Google, Dell - what are their core competencies? Core competencies change over time, as a business evolves and adapts, its competencies will change.core competence is something a company does especially well relative to its competitors. Honda, for example, has a core competence in small engine design and manufacturing; Sony has a core competence in miniaturization; Federal Express has a core competence in logistics and customer service. Typically, a core competence refers to a set of skills or experience in some activity, rather than physical or financial assets. For example, an individual who becomes certified as a Microsoft Certified Software Engineer (MCSE) is said to have a core competency in certain Microsoft systems and networks. Sony, Google, Dell - what are their core competencies? Core competencies change over time, as a business evolves and adapts, its competencies will change.

5. Core Competencies Technical/subject matter know how Reliable process, Close relationships with customers and suppliers Product development expertise Culture such as employee dedication

6. Core Competencies… Activities that are not part of a company's core competency should be outsourced. If a core competency yields a long term advantage to the company, it is said to be a sustainable competitive advantage.

7. Can we do we it profitably? Use “True or Full Cost” accounting to decide Adjust personnel costs to allow for taxes, workman’s comp, fringe benefits Allocate portion of overhead Indirect costs “Know your burn rate” http://en.wikipedia.org/wiki/Full_cost_accounting FUTA .8% Medicare: 1.45% FICA: 6.2%http://en.wikipedia.org/wiki/Full_cost_accounting FUTA .8% Medicare: 1.45% FICA: 6.2%

8. Can we do it timely? How long does it REALLY take? What other projects are in the queue?

9. Why is time estimation hard? Other high urgency, high priority tasks come up Meetings Holidays and sickness in essential staff Breakdowns in equipment Missed deliveries by suppliers Interruptions Quality control rejections and rework Not considering time of ALL parties involved in a task