Strength of Entrepreneurship: Planning and Execution
“An IDEA is a Unique thought that may result into either an invention, innovation or a discovery.”
Entrepreneurship is the ⛵ boat which sails on the high waves 🌊Of extreme environment. Both the internal and external factors of the dynamic nature influence the business development in every possible pin. Every individual once thinks to become entrepreneur, but to ride a long way in the journey of glory is a hard case thing.“Fake it till make it” is always a pleasure success mantra to face business tides. Every business should learn to collect small pebbles to build a kingdom to rule. Entrepreneurs are set to raise fire but this whole process is likely to accomplish only when necessary planning and management of mind and ideas have taken worth place. PLANNING and execution of the dynamic environment before the end result is the most important thing to do. Every possible aspect of the game is to be studied at a pinpoint. Only Strong roots can make the powerful shed for tree. Planning is same as preparing the bed stronger enough to build a glorified and successful empire. A great project float on a perfect project planning and execution for which we the team of Business connect magazine dedicate this article to project planning and management.
let’s have a look on the stars of project management in the sky:-
What it do ??
-
Identification of objective:-
The main component of project planning is to identify the objective or need of the project which must be identified after keeping the needs of all stakeholders in mind. Note that an objective is more specific than goals that make it easier to measure the success of the enterprise.
-
Selection of activities:–
After the identification of objective, next phase is to achieve the same, for which the optimum performance and accurate activities are to be selected.
-
Identification of resource requirements:-
The most important phase of the company format is to identify the needs of resources and allocation of the same in the journey accurately.
-
Preparation of budget:-
The budget encompasses the estimation of labor, equipment and materials for implementing the project plan. This budget helps in monitoring and control the cost expenditure during the implementation phase.
-
Risk management:-
After detailing the activities, resources, schedule and costs, one should go through the potential threats in the route of completing the project successfully.
-
Formulation of communication plan:–
A communication plan is a mechanism of preparing a document that shows the information of the stakeholders, required information and the communicated channels, that may be daily, weekly, or monthly describing the performance milestone achieved and the work planned further.
-
Documentation:-
The documentation of quality plan is crucial for its better implementation. It facilitates the coordination of team, activities and resources to achieve quality target through better control measures.
-
Evaluation:-
Management reviews should occur after each phase to evaluate the project’s progress during the various checkpoints of business life.
Wrapping up the planning procedure. We, the team of business connect magazine hopes that these pillars and process would help you to make the most successful business and makes sense to have the wonderful business floating on the extremely dynamic waves of sea. As we all know that entrepreneurship is not an easy task to build or survive but also not Impossible to make.
Wishing you a happy reading!! Happy entrepreneurship!!
“Tides are always there to welcome you but it depends on you how to reach the shore”. – Lovely Sharma
