Introduction to Entrepreneurship: Module 2 – Project Management By Venture Highway

Why Discuss Project Management Now?   Entrepreneurship is Project Management. An idea is nothing until you start moving it forward.

How Project Management Helps   A startup is an uncertain environment, and that uncertainty must be managed. The number of tasks to be done will be enormous and will always grow. Those tasks must all be continuously prioritized and tracked.

Managing Uncertainty Types of Uncertainty: Technical Market   Types of Uncertainty: Technical Market Organizational Resource

Managing Uncertainty   Systematic Uncertainty Management Process – 4 steps: State your hypothesis List your assumptions Create a plan to test your assumptions Apply what you’ve learned

The Business Model Canvas   The Business Model Canvas breaks down your business model into 9 building blocks. The Value Proposition is TWO blocks – Problem and Solution, so we focus on each specifically. The five step process for managing uncertainty must be applied to each block. Hypotheses for each block must be tested and refined in order to build a viable business model

The Business Model Canvas   Sections of the Canvas: Customer Segments Value Propositions: Problem Value Proposition: Solution Channels Customer Relationships Revenue Streams Key Resources Key Activities Key Partnerships Cost Structure

Leadership Principles for Project Management   Set Goals Create Project Charter (which you will do as teams) Establish meeting rules Create a schedule Manage the schedule Resolve issues quickly Contingency plan

Project Management Tools   Common Software: Microsoft Project Sharepoint Dropbox

Expectations, time commitment of team members Project Charter   Team Goals Expectations, time commitment of team members Address known conflicts that may affect commitments Determine the conflict resolutions process

Class Activity   Teams: Pick a common project and write a plan to manage it using the 4 steps, including contingency planning.

For Next Class Create a Project Charter for your Team   Create a Project Charter for your Team Determine how you will manage your Venture Accelerator Projects Read Module 3 and complete the exercises in the Module so that you are ready to discuss Explore the Venture Highway Business Model Canvas Tool