Effective Project Management for Small Businesses

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What is one of the challenges faced by small business owners, as mentioned in the text?

Lack of motivation among employees

Inadequate staff or resources (correct)

Excessive competition from large corporations

Overwhelming government regulations

How can project management help small businesses, according to the text?

By enabling them to work smarter, not harder (correct)

By eliminating the need for a structured framework

By increasing the number of daily tasks

By providing excessive resources and staff

Why is it important to specify objectives for a project, as mentioned in the text?

To confuse employees about the purpose of the project

To hide the purpose of the project from employees

To ensure that everyone in the team knows what they are working to accomplish (correct)

To make the project unnecessarily complex

What should small business owners do once they have defined their project's objectives?

Build a step-by-step plan covering the project's inception to completion Signup and view all the answers

How does inadequate staff or resources affect small businesses, as mentioned in the text?

It results in missed steps and measures in the business Signup and view all the answers

What does the text suggest about accomplishing daily tasks and boosting sales for small businesses?

It is difficult with inadequate staff or resources Signup and view all the answers

How can project management help small businesses streamline their offerings?

By utilizing structured frameworks provided by project management Signup and view all the answers

What is the importance of communication in project management?

To keep everyone in the loop and provide regular updates Signup and view all the answers

How can you stay ahead of unexpected events?

By constantly being aware and ready to react Signup and view all the answers

What is the purpose of conducting a 'project retrospective'?

To document findings and conduct a thorough analysis of what went well and what went wrong Signup and view all the answers

What is the main idea behind using lessons learned from one project in planning other projects?

To use the lessons to improve planning and execution in future projects Signup and view all the answers

How can micro-enterprise owners benefit from using Prince2 project management?

They can use it to plan and execute their projects Signup and view all the answers

What should be provided for every decision to be made in project management?

Sufficient information Signup and view all the answers

What is the best approach to handling unexpected events in project management?

To stay aware and ready to react Signup and view all the answers

What should be pinpointed during a 'project retrospective'?

'Whys' behind what went well and what went wrong Signup and view all the answers

Why should everyone be kept in the loop according to the text?

To ensure everyone is informed and involved in the project Signup and view all the answers

What should the project manager do if the project does not go exactly as planned?

Review, assess, and update the plan as needed Signup and view all the answers

How can the project manager keep everyone motivated and accountable throughout the project?

By delegating tasks wisely to the team Signup and view all the answers

What is an important step in maximizing resources and building better relationships with vendors and partners?

Leveraging 3rd party relationships Signup and view all the answers

What should the project manager do if there are skill gaps in the team?

Fill up the skill gaps with the right people Signup and view all the answers

When should the project manager call in an expert for a specific part of the project?

Only if absolutely necessary according to the budget Signup and view all the answers

What is expected of the whole project team regarding risks?

To watch for and report any controllable or uncontrollable risks Signup and view all the answers

What should the project manager do to manage and mitigate risk?

Ensure that the whole project team is expected to watch for and report any risks Signup and view all the answers