Effective Project Management for Small Businesses
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Questions and Answers

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?

<p>Build a step-by-step plan covering the project's inception to completion (C)</p> Signup and view all the answers

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

<p>It results in missed steps and measures in the business (C)</p> Signup and view all the answers

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

<p>It is difficult with inadequate staff or resources (A)</p> Signup and view all the answers

How can project management help small businesses streamline their offerings?

<p>By utilizing structured frameworks provided by project management (C)</p> Signup and view all the answers

What is the importance of communication in project management?

<p>To keep everyone in the loop and provide regular updates (B)</p> Signup and view all the answers

How can you stay ahead of unexpected events?

<p>By constantly being aware and ready to react (B)</p> Signup and view all the answers

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

<p>To document findings and conduct a thorough analysis of what went well and what went wrong (D)</p> Signup and view all the answers

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

<p>To use the lessons to improve planning and execution in future projects (A)</p> Signup and view all the answers

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

<p>They can use it to plan and execute their projects (C)</p> Signup and view all the answers

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

<p>Sufficient information (D)</p> Signup and view all the answers

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

<p>To stay aware and ready to react (C)</p> Signup and view all the answers

What should be pinpointed during a 'project retrospective'?

<p>'Whys' behind what went well and what went wrong (C)</p> Signup and view all the answers

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

<p>To ensure everyone is informed and involved in the project (A)</p> Signup and view all the answers

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

<p>Review, assess, and update the plan as needed (D)</p> Signup and view all the answers

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

<p>By delegating tasks wisely to the team (D)</p> Signup and view all the answers

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

<p>Leveraging 3rd party relationships (C)</p> Signup and view all the answers

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

<p>Fill up the skill gaps with the right people (B)</p> Signup and view all the answers

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

<p>Only if absolutely necessary according to the budget (D)</p> Signup and view all the answers

What is expected of the whole project team regarding risks?

<p>To watch for and report any controllable or uncontrollable risks (D)</p> Signup and view all the answers

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

<p>Ensure that the whole project team is expected to watch for and report any risks (A)</p> Signup and view all the answers

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