Project Management in Startups Dr. Bülent Gümüş Key Expert, Outspeed Start-up Project Co-founder, innoCentrum bulent.gumus@pmi.org.tr
Outline Outspeed Startup Project Startup Survey Basics of Startup World Favorite Startup Tools Basics of Project Management World Startup as a Project and Project Management in Startups Examples of PM Tools & Techniques Preliminary Results of Project Management in Startups Survey
Motivation In general, entrepreneurs are technically very competent in the areas related to their business idea. This does NOT mean they are good in people management, time management, risk management, budget management, etc.
Motivation We believe project management tools and methods can help entrepreneurs better manage their projects and day-to-day operations.
Outspeed Start-Up Project Objective: Strengthen the Foundational Structure, Organisation and Management of Early Start-ups through Utilisation of Project Management Best-Practices Duration : April 2019 – July 2020 Funded by : European Union Implemented by : Supporting Association : Ankara Development Agency
Roadmap 1 2 3 4 P has e 1 (M ay’19 –J ul’19) P has e 4 (M ay’20 –J ul’20) P has e 2 (J ul’19 –D ec’19) P has e 3 (J an’20 –M ay’20) A nno uncem ent& D ataC o llectio n P ro ductio n D is s em inatio n Training • S tartupS urvey • P ro ject M anagem ent fo r • P ro ject M anagem ent S um m it • Training C o urs es fo rS tartups • M ento rF eedback fo rS tartups S tart-up P ractice G uide • Info rm ative S es s io ns fo r • Incubatio nC entre F eedback • W eb P o rtal fo r S tart-ups m ento rs • P ro ject C lo s ing 6
PMI Turkey Project Team
International Partners
Let’s fill in the survey together https://outspeed-startup.com/
What is a Startup?
Start-up Ecosystem - Key Concepts • SME – Small and Medium Enterprises: Small and medium-sized enterprises (SMEs) are non-subsidiary, independent firms which employ fewer than a given number of employees (250 in Turkey) and have revenues less than a given limit (40m TL in Turkey). • Small: Less than 50 employees and 8m TL • Micro: Less than 10 employees and 1m TL • Entrepreneur: An entrepreneur is a person who has possession of a new enterprise, venture or idea and is accountable for the inherent risks and the outcome.
Start-up Ecosystem - Key Concepts • A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty . (Eric Ries, Lean Startup) • They are more into inventions , and they wish to make new things which are revolutionary and have a very idealistic motive in most situation. Small Enterprise Business Investment Startup Exit Failure
Startup vs. Enterprise Characteristics of a startup are: • Roles are loosely defined. • Co-founders are very active in making most of the decisions. • Company is losing money and there isn’t a long runway left - survival is a major problem. • A disruptive product/service/business model is being developed and marketed. Characteristics of an enterprise : • Multiple departments and locations. • You only know your direct colleagues well and interact with a handful of people from other departments. • Everyone has clear responsibilities and hierarchies. • Profitability and short-term survival is likely not a concern.
MVP: A new product /service with sufficient features to satisfy PIVOT: A change in early adopters strategy without a Favorite Startup change in vision Tools – Lean Startup
Successful Innovation Innovation Desirability (Human) Feasibility Viability (Technical) (Business)
Accelerate this feedback loop! Favorite Startup Tools – Lean Startup
The Lean Canvas Company Name Iteration #1 Date Problem Solution Unique Value Unfair Customer Proposition Advantage Segments Top 3 problems Top 3 features Can’t be easily Single, clear, Target customers compelling copied or bought message that 3 7 states why you are different and worth paying attention 1 1 Key Metrics Channels 2 Key activities you Path to customers measure Early Adopters: Existing High Level Concept: 6 4 Alternatives: Cost Structure Revenue Streams Customer Acquisition costs Revenue Model 5 Distribution costs Life Time Value 5 Hosting Revenue People, etc. Gross Margin
Favorite Startup Tools – Validation Board
Lean Startup How do I accelerate Have I built growth? something Is there a people want? problem worth solving?
Favorite Startup Tools – Design Thinking
Project Management - Key Concepts • Project: A project is a temporary endeavor undertaken to create a unique product, service, or result . • Uniqeness -> Progressive elaboration • Project management: Project management is the application of knowledge, skills, tools and techniques to project activities to meet project requirements. • Identifying requirements • Establishing clear and achievable objectives • Balancing the competing demands for scope , time and cost as well as quality • Adapting the specifications, plans, and approach to the different concerns and expectations of the various stakeholders.
Knowledge Areas Communication Procurement Stakeholder Integration Resource Schedule Quality Scope Cost Risk Process Groups Initiating 1 1 2 Planning 1 4 5 3 1 2 1 5 1 1 24 Executing 2 1 3 1 1 1 1 10 Monitoring & Controlling 2 2 1 1 1 1 1 1 1 1 12 Closing 1 1 7 6 6 4 3 6 3 7 3 4 49
Project Management Process and Boundaries
Project and Product Lifecycle • A project lifecycle is a sequence of phases through which a project starts from its beginning to its end. • The project life cycle can be predictive (plan-driven)-Waterfall or adaptive (change-driven)-Agile or hybrid . These phases can be sequential , iterative or overlapping . • During a project lifecycle , there are usually one or more phases in connection with the development of the product, service or outcome . These are called development life cycles . • The development life cycle can be a predictive , iterative , incremental , adaptive , or hybrid model
• The goal of agile is to produce shorter development cycles and more frequent product releases than traditional waterfall project management. • This shorter time frame enables project teams to react to changes in the client’s needs more effectively.
Iterative vs. Incremental
Agile Project Management Cycle
Outline Basics of Startup World Favourite Startup Tools Basics of Project Management World Startup as a Project and Project Management in Startups Examples of PM Tools & Techniques Preliminary Results of Project Management in Startups Survey
Startup as a Project • When does the Startup Project start and end ? • What are the main mistakes that cause Startups to fail or perform poorly? • What type of planning activities would startups need?
Does a Startup need project management? Startups either do not know about project management or undervalue the benefit of PM. Integration Resource Scope Communication Schedule Risk Cost Procurement Quality Stakeholder
Startup Project Management Opportunities Challenges • Fast decision making • Responsibilities are not clearly defined; important tasks may not have • Large impact an owner • Fast execution • Low quality product due to short-cuts • Easy adaptation, even PIVOT • (Co-)founders have too much influence
Startup as a Project • Is there any activities/methods that are not applicable to projects in enterprises but have to be included for a startup Project? • Is there any project management activities/methods that are not applicable to startup projects? • How much time and effort should be spent for Project management in a startup project?
Examples of PM Tools & & Techniques Stakeholder Management PERT – Estimation Risk Management
Stakeholder Management Stakeholders are anyone who can directly on indirectly affect or being impacted by the project/product.
Stakeholder Management – Identify Stakeholders
Stakeholder Management – Identify Stakeholders Stakeholder PoC Power Interest Engagement Strategy Name, address, etc. Ability to stop or change Size and location of overlap Type & frequency of Name project between their interest and communication project goals Stakeholder 1 Stakeholder 2 Stakeholder 3
PERT - Estimation Effort (person-day) vs. Duration (day) PERT (program evaluation and review technique) tries to account for the uncertainty in task durations. b: pessimistic effort / a : optimistic effort / m: most likely effort Activity Pessimistic b Optimistic a m t (expected) Name Scenario scenario
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