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MSc Dissertation Proposal on A critical study strategy for understanding how to improve the effectiveness of project management in a start up company by [----Name----] [---Banner Number---]
Table of Contents Abstract ...................................................................................................................................................... 3 1. Introduction ....................................................................................................................................... 4 2. Aims and Objectives .......................................................................................................................... 4 2.1 Aims .................................................................................................................................................. 4 2.2 Objectives ......................................................................................................................................... 4 3. Research Questions ............................................................................................................................ 5 4. Literature Review .............................................................................................................................. 5 5. Research Methodology ...................................................................................................................... 8 5.1 Data Collection ................................................................................................................................. 9 5.2 Data Analysis .................................................................................................................................. 10 6. Findings ............................................................................................................................................ 10 7. Limitations ....................................................................................................................................... 10 8. Conclusion and Recommendations ................................................................................................. 11 8.1 Conclusion ...................................................................................................................................... 11 8.2 Recommendations .......................................................................................................................... 11 References ................................................................................................................................................ 12 Appendices ............................................................................................................................................... 15 Appendix 1: Project plan .................................................................................................................... 15
Abstract This proposal is conducted to comprehend and identify project management strategies that can add value to start-up companies. Over the years, it has been concluded from the literature that an interlink exists between project management and business start-ups because the two domains are quite parallel. Information has been gathered by utilizing surveys together with open-ended questions. It is imperative to note that entrepreneurs have used project management techniques to improve company start-ups' efficiency (Azanha et al. 2017,p.54). The overall outcome showcase that the entrepreneurs who utilize such methodologies apply agile project management strategies. This is because these techniques have been proven flexible and more efficient in enhancing the growth and development of business start-ups. Introduction The organization's capacity to manage projects effectively determines the favorable outcomes of start-up firms. In this case, Project management is considered a crucial variable for start-up companies since it is the sole determinant of accomplishment or its downfall in the long- term domain. Effective project management must adhere to critical variables such as strategic goals and objectives, agile methodologies, collaboration, cooperation, hazards, efficient communication, and teamwork (Bradley,2016,p.45). Over the years, start-up companies have been undermined by various problems in project management, including issues like minimal funds, timeline variances, minimal skills or no experience at all, and act of not upholding changes in the organization by employees Research aims and Objectives Aims
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This proposal aims to posit a critical study strategy for comprehending aspects needed to improve the effectiveness of project management in a start-up company. It aims to offer future entrepreneurs a comprehensive understanding, knowledge, and skills required to run a start-up firm effectively. In this way, it encourages project managers to solve the challenges facing global start-ups. The government initiatives will also focus on offering youth an incentive. These millennials are primarily interested in a start-up businesses, thus boosting the employment rate in all nations. Objectives Research Objectives: To identify the success variables needed for effective project management in a start-up firm. To determine the successful project management practices mainly applied by new enterprises. To critically analyze the overall effectiveness of such practices. To evaluate some of the problems facing start-up firms To critically examine the strategies and models required by start-up businesses in order to improve the performance of projects Research Questions The following are the expected proposed research questions for this dissertation: o What are the key outcome variables needed to enhance effective project management in start-up companies? o What are some of the main drawbacks affecting project management start-up companies?
o What are the fundamental strategies required to improve the effectiveness of significant start-up companies? Literature Review According to this proposal, the literature review epicentre will be on the crucial variables that lead to the overall success of start-up firms. It is imperative to note that starting a company is a challenging dynamic in project management. This is because it requires several factors and resources to stand by itself. In addition, the literature review will critically evaluate the underlying issues facing start-up companies. It will also define the strategic opportunities required to improve the effectiveness of project management in enterprises (Fewings and Henjewele,2019,p.36). The literature review comprises primary and secondary sources, including articles, website information, journals, past books, periodicals and other web publications from successful firms. Even though distinct cooperation and networks between various start-up firms have increased, a study in this area of research has been limited. In previous studies, the entrepreneur's leadership principles and responsibilities were evaluated was concluded that companies' effectiveness needs project management to amplify technical know-how and competence. Project analysis, improvement, and strategic alignment maximize their significance for start-up companies. This proposal has defined article evaluation from the past 11 years. As stated by Ford and Lyneis (2020) in their works regarding the evolvement of perception on project success in start-ups for over 50 years conclude that project success is significant because it has a focal point on the future mandates of project start-ups based on the strategic context.
The current knowledge needs to be more comprehensive in comparing variables contributing to start-up firms' success in different environment settings. Firms are utilizing projects in their day- to-day operations to accomplish their long-term goals. In addition, there is an increasing requirement for suitable project management in several companies. In current years, scholars have become more interested in factors and strategies that enhance project management in a start-up business. However, there needs to be more research that indicates how effectively projects are run in start-up business contexts. This dissertation will partly fill this existing gap by providing outcomes from firm start-up case studies and surveys made of business enterprises. Methodology According to (Kerzner (2019), this paper's methodology will focus on the mixed method approach. In this, both qualitative and quantitative aspects will be utilized. It is important to acknowledge that this research will focus on the examination of the topic through cultural phenomenon, the start-up managerial and employee human behaviour and other firms' belief systems. In addition, an empirical investigation will form the basis of the study facts since observable features and measurable variables like performance metrics will be identified. Data collection In this, some of the techniques used to gather data will be observation and questionnaires to participants like employees and managers. In addition, other methods will include conducting surveys in the form of semi-structured interviews. Further information will be retrieved from government sites, start-up company websites and social media responses of clients. The participants who will be involved in providing the data set will comprise employees, project managers, supervisors and the entire team of stakeholders, such as policymakers and government
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operatives. Some questionnaires directed at the interview session will be mainly carried out using audio-visual formats by strictly adhering to the code of clients and as preferred by the individual being interviewed (Haßler, Major, and Hennessy, 2016,p.356). The interviewees will also be given a consent form to ensure their confidentiality and view are considered. Conversely, the anticipated sample size will be evaluated by basing the sample on a focal situation point. Typically, this is a point where there exist no or minimal research themes or emerging insights for information gathering. Both the questionnaires and survey will be created in a way that addresses concerns and queries from stakeholders. Information that will be collected in this domain will involve highlighting some of the expected crucial success variables, problems facing the firms, strategies required for improvement and the overall results of improving the effectiveness of a start-up company. Data Analysis All the data collected from the questionnaires, surveys and interviews will undergo a comprehensive data analysis process utilizing a thematic data evaluation technique. The qualitative data gathered will be analyzed using descriptive and differential statistic methods. The computer software needed in those aspects includes Anova and Spss software. The data collected must meet several requirements involving the fundamental assumptions suggested by carrying out the ANOVA test. In this particular case, it is compiled by having one cofounder from each of the given start-up companies (Liu, Van Nederveen, S. and Hertogh,2017,p.25). There is also needed to apply homogeneity and normality of the variables during the data analysis period. It means that the factors are simultaneously distributed across each subpopulation. This lowers as the sample size increase. According to the proposal, this will enable the research to focus on relevant data and facts only.
Some themes emerged from the thematic research analysis outlined by collecting information from questionnaires, interviews and other primary sources. These revolved around effective communication between planners, owners and active stakeholders (Parameter 2015,p.11). The move enabled the diversification of management procedures, systems and the proficiency of start-up entrepreneurs in making leadership decisions. It also engulfed aspects like commitment, resources and the assistance the established team received. Findings The findings of this research include a compelling overview of the challenges new companies face in the market. Some challenges are reduced experiences and skills to run a successful firm. It is evident that some project managers or business owners get into the market with no experience gained before starting the firm. As a result, they are pushed out of the market by other giant firms dealing with similar products and services. Other challenges that were found to contribute to failure include inadequate resources needed to bail out the firm in case of risks (Schwalbe 2015,p.77). Other anticipated findings of the dissertation comprise a properly laid out strategy or models that enhance the effectiveness of project management in start-up firms. The model will also focus on the fundamental success variables that were initially outlined in the literature works section. It will showcase the strategies to create the best ground for running start-up company activities. Consequently, the findings of the framework will revolve around recommendations proposed for addressing future problems mini9mex the performance of start-up companies. This is to achieve long-term project objectives and future organization endeavours. The findings of this dissertation may bring about convenient project positioning and successful results for a start-up business. Typically, company leaders should engage managers in the growth of underlying business
strategies. The outcomes of this paper provide social and economic changes by ensuring that entrepreneurs implement sustainable projects. These sustainable start-up companies will be beneficial since they are expected to give employment opportunities to the local sir communities to revive the economy. Research limitations Some of the limitations that affect the study results include minimal resources for compiling and storing the data from interviews. The research may also be limited by the increased costs of traveling to business start-ups. In addition, some start-up project managers may need to offer their consent in presenting various levels of information (Serra and Kunc,2015, p.267). Others might be biased and exaggerate the information to seem successful while struggling to keep their recently started business afloat and running. This impacts the relevance, credibility, and quality of information. These limitations might cause a delay in compiling the final dissertation report. Recommendations The start-up owners should enroll in project managers' training programs. They should also have enough resources and support to fully furnish the necessary knowledge and skills to effectively run business activities (Turner 2016,p.65). It is important to track and examine performance regularly and continuously. It can be achieved by using metrics on costs and client satisfaction rates.in this way, rewards will be given on performance to boost the morale of the managers achieving success.
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Embracing feedback from prospective clients. There is also a need to uphold new emerging trends in the market, best practices for running start-ups, and adjusting to a rapidly changing business environment. Conclusion Effective project management is an important process for the overall success of start-up firms. This research aims to propose a critical study strategy for intensifying the improvement of start- up firms. In this way, the effectiveness of running thriving operations of the firms will be realized Svejvig, P. and (Andersen, 2015,p.234). The model acknowledged from this dissertation will implement action plans from a basis of knowledge and ideas required to drive the businesses forward. The paper also offers a ground for future planners, business owners, and policymakers to understand the strategy for improving the effectiveness of the newly established.
References Azanha, A., Argoud, A.R.T.T., Camargo Junior, J.B.D. and Antoniolli, P.D., 2017. Agile project management with Scrum: A case study of a Brazilian pharmaceutical company IT project. International journal of managing projects in business , 10 (1), pp.121-142. Bradley, G., 2016. Benefit Realisation Management: A practical guide to achieving benefits through change . Routledge. Fewings, P. and Henjewele, C., 2019. Construction project management: an integrated approach . Routledge. Ford, D.N. and Lyneis, J.M., 2020. System dynamics applied to project management: a survey, assessment, and directions for future research. System Dynamics: Theory and Applications , pp.285-314. Haßler, B., Major, L. and Hennessy, S., 2016. Tablet use in schools: A critical review of the evidence for learning outcomes. Journal of Computer Assisted Learning , 32 (2), pp.139-156. Heagney, J., 2016. Fundamentals of project management . Amacom. Hornstein, H.A., 2015. The integration of project management and organizational change management is now a necessity. International journal of project management , 33 (2), pp.291-298. Kerzner, H., 2017. Project management: a systems approach to planning, scheduling, and controlling . John Wiley & Sons. Kerzner, H., 2018. Project management best practices: Achieving global excellence . John Wiley & Sons.
Kerzner, H., 2019. Using the project management maturity model: strategic planning for project management . John Wiley & Sons. Liu, Y., Van Nederveen, S. and Hertogh, M., 2017. Understanding effects of BIM on collaborative design and construction: An empirical study in China. International journal of project management , 35 (4), pp.686-698. Meredith, J.R., Shafer, S.M. and Mantel Jr, S.J., 2017. Project management: a strategic managerial approach . John Wiley & Sons.’ Parmenter, D., 2015. Key performance indicators: developing, implementing, and using winning KPIs . John Wiley & Sons. Parviainen, P., Tihinen, M., Kääriäinen, J. and Teppola, S., 2017. Tackling the digitalization challenge: how to benefit from digitalization in practice. International journal of information systems and project management , 5 (1), pp.63-77. Ramazani, J. and Jergeas, G., 2015. Project managers and the journey from good to great: The benefits of investment in project management training and education. International Journal of Project Management , 33 (1), pp.41-52. Schwalbe, K., 2015. Information technology project management . Cengage Learning. Serra, C.E.M. and Kunc, M., 2015. Benefits realisation management and its influence on project success and on the execution of business strategies. International Journal of Project Management , 33 (1), pp.53-66.
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Svejvig, P. and Andersen, P., 2015. Rethinking project management: A structured literature review with a critical look at the brave new world. International journal of project management , 33 (2), pp.278-290. Todorović, M.L., Petrović, D.Č., Mihić, M.M., Obradović, V.L. and Bushuyev, S.D., 2015. Project success analysis framework: A knowledge-based approach in project management. International journal of project management , 33 (4), pp.772-783. Turner, R., 2016. Gower handbook of project management . Routledge. Verzuh, E., 2015. The fast forward MBA in project management . John Wiley & Sons.
Appendices Appendix A:Project Plan Activity Time(Months) Topic aims and objectives, problem statement 1 Review of literature 1 Data collection 2 Analyzing data 1 Presenting the findings and final report 1