Project Management: The Key to Successful Project Development by Smart Idea Store

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The development of unproven concepts into proven technology, commercial products and sales requires a co-ordinated approach to identifying project tasks, assembling a project team and controlling the timeline and the budget.  Ideally, one person should be in charge.  Should this be you and what would you need to do?

 

Definitions

 

Project

A series of inter-related tasks, with specified resource requirements, that achieve an overall aim in time and on budget.

 

Project Management

The planning and execution of tasks, through motivating project partners and controlling resources, that achieves the aims and objectives of a project.

 

Recent History

Modern project management began in the 1950s with the incorporation of the techniques developed during the second World War to deliver complex government and military projects in a timely manner with a reduced labour market.

 

These techniques were adopted by a wide variety of industries including the construction, pharmaceutical and space sectors. The term “project management” was coined by General Bernard Schriever of the US Air Force whilst working in the military ballistic and space programmes.

 

This has led to a wide variety of different management strategies and tools being developed and applied to complex projects and even to the management of businesses themselves. As a result, it is now common practice to appoint a “Project Manager” to take responsibility of putting together a project team, planning the workflow resources and budgetary requirements, managing the dissemination of information and collaboration between different companies or departments performing inter-related tasks where failings could have significant impact on the timeline of transforming your ideas into technology and/or the resultant costs.

There are plenty of resources on the website on project management, which will help you understand more about project management, how much project management that you personally want to be responsible for and when it is best to let other people or companies manage projects on your behalf.  The first step is to perform a detailed evaluation to determine if you have a commercially and technically viable idea that can be developed and commercialised.

 

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