Assignment: Project Management – Essential Principles & Practices
Objective
This assignment helps startup founders apply project management principles to efficiently plan, execute, and monitor their startup initiatives. You will define project goals, methodologies, risk management strategies, and stakeholder communication plans.
Instructions
- Answer each section in bullet points or short paragraphs (2–5 sentences each).
- Keep responses concise and focused on your startup.
- Apply real project management tools and techniques to structure your venture’s activities.
Assignment Questions
1. Project Definition & Scope
(a) What is the main project or initiative your startup is currently working on?
👉 Example: Developing an MVP, launching a pilot program, scaling to new markets.
(b) What are the key deliverables of this project?
👉 List 3–5 tangible outcomes (e.g., working prototype, marketing campaign, customer acquisition milestone).
(c) What is the estimated timeline for this project?
👉 Example: 3 months, 6 months, 1 year (break it down into major phases if possible).
2. Choosing the Right Project Management Methodology
(a) Which project management methodology best fits your startup’s needs? (Waterfall, Agile, Hybrid, etc.)
👉 Example: Agile for software development, Waterfall for structured implementation, Hybrid for complex projects.
(b) Why did you choose this methodology?
👉 Explain how it aligns with your team’s workflow and project goals.
(c) How will you ensure that your team understands and follows the methodology effectively?
👉 Example: Training sessions, clear documentation, project management software (e.g.,Trello, Asana, Jira).
3. SMART Objectives & Milestones
(a) Define one SMART objective for your project.
👉 Example: "Acquire 500 active users within the first 3 months after product launch."
(b) What are the key milestones in your project timeline?
👉 Example:
- Week 1-4: User research & prototyping
- Week 5-8: MVP development
- Week 9-12: Beta testing & feedback integration
- Week 13-16: Official product launch
4. Risk Management & Quality Control
(a) Identify 2–3 major risks that could affect your project’s success.
👉 Example: Budget overruns, delays in development, market adoption challenges.
(b) What strategies will you use to mitigate these risks?
👉 Example: Creating contingency plans, securing backup suppliers, testing early with users.
(c) How will you ensure quality throughout the project lifecycle?
👉 Example: Regular testing, feedback loops, quality assurance checklists.
5. Stakeholder & Team Management
(a) Who are the key stakeholders in your project?
👉 Example: Co-founders, investors, customers, partners, employees.
(b) How will you communicate with stakeholders to ensure alignment?
👉 Example: Weekly updates, project dashboards, stakeholder meetings.
(c) What collaboration tools will you use to manage tasks and track progress?
👉 Example: Slack for communication, Notion for documentation, Monday.com for project tracking.
6. Reflection & Next Steps
(a) What is one thing your startup is doing well in project management?
👉 Example: Efficient team collaboration, strong planning process, agile adaptability.
(b) What is one area you need to improve?
👉 Example: Better deadline management, improved risk assessment, clearer stakeholder communication.
(c) What is your next action step to strengthen project execution?
👉 Example: Implementing a new project tracking tool, holding a team strategy meeting, refining task prioritisation.
- Call to Action (Funding/Partnerships Needed)
Submission: Not required
Keep answer short and to the point
Due Date: None
