If you are someone with a decent knowledge of planning strategizing and increasing a company’s profit through it, then a project management business might be your cup of tea.
Several business owners want their business’s voice to be heard and recognized, but with a hundred other tasks to do they are left with no time to plan or look back on the progress of their strategies. And here’s where project management teams can help.
And if you are planning to start your project management business you’ll need a project management business plan.
We have created a project management plan template for you to get a good idea about what a perfect project management plan should look like and what details you should include in your plan.
The major reason behind the rise of this market is the value addition and results it offers. Also, as project managers become experts at what they do, the demand and value of their services rise too.
But at the same time, it is necessary for you to have proof that your services can add value to your client’s business. Proper planning and in-depth knowledge of the industry and its trends can help you do just that.
Things to Consider Before Writing Project Management Business Plan
Identify your niche
Although you might be tempted to take up different projects it is essential for you to niche down and find out which area do you want to turn into your area of expertise. Taking up similar projects helps you find out and develop optimal solutions to the major problems that exist in that market.
Note down your deliverables
Note down what would be included in your set of deliverables. It helps you set the right customer expectations and also helps you manage your resources more effectively.
Note down common risks in the industry
Smart people learn from other people’s mistakes and so should you. Analyze common risks and how to avoid them so you get to provide better services to your clients. It also helps you get through common problems that hold other businesses back. Hence, it is necessary to analyze common risks for the betterment of your business.
Find out ways to reach out to your potential customers
There would be definite ways that would help you reach out to potential customers better and faster. It is essential for your business to find these mediums and market your business to help you increase your audience’s awareness regarding your brand. It also ensures that you get results equivalent to your marketing efforts.
Such mediums could be a specific social networking site, email, websites, print ads, online communities, and so on. You should do your research to find out which is the best for your niche.
Chalking Out Your Business Plan
The project management plan is required to understand how the project will be executed, monitored, controlled, and finally closed during the project development life cycle.
Before you start writing your project management plan, spend as much time as you can reading through some samples of project management plans.
Not only will that give you a good idea of what it is you’re aiming for, but it will also show you the different sections that different entrepreneurs include and the language they use to write about themselves and their future plans.
Project Management Plan Outline
This is the standard project management plan outline which will cover all important sections that you should include in your business plan.
- Project Purpose, Objectives, and Success Criteria
- Project Deliverables
- Assumptions, Dependencies, and Constraints
- Definitions and Acronyms
- Evolution of the Plan
- Project Organization
- External Interfaces
- Internal Structure
- Roles and Responsibilities
- Managerial Process Plans
- Start-Up Plans
- Estimation Plan
- Staffing Plan
- Staff Training Plan
- Resource Acquisition Plan
- Project Commitments
- Work Plan
- Control Plan
- Data Control Plan
- Requirements Control Plan
- Schedule Control Plan
- Budget Control Plan
- Communication, Tracking, and Reporting Plan
- Metrics Collection Plan
- Risk Management Plan
- Financial Management Plan (Cost/Budget Management)
- Issue Resolution Plan
- Project Close-Out Plan
- Start-Up Plans
- Technical Process Plans
- Process Model
- Methods, Tools, and Techniques
- Configuration Management Plan
- Quality Assurance Plan
- Documentation Plan
- Process Improvement Plan
After getting started with Upmetrics, you can copy this project management plan template into your plan and modify the required information and download your project management plan pdf and doc file. It's the fastest and easiest way to start writing your plan.
Ready to Start Your Planning?
Now that you know how to write a business plan, it's time to create one for you.
Remember that problem and market analysis are essential, but implementation is what counts. Go through the process explained in this guide to start planning for your business.
We have created Upmetrics — business plan software to simplify the process of business planning.
Our business plan builder allows you to write and customize your business plan. Our sample business plans and inbuilt help tips will help you to get started with your writing even if you are no expert. Our business plan sections and charts will make your document visually attractive.
Our financial forecasting module will create all the essential reports automatically. You need to enter numbers, and the application will do all the math to generate all your financial statements. Later you can embed those reports into your business plan.
After completing your business plan, you can download your business plan in PDF or DOC file with Upmetrics. You can also share it online with investors just by a quick link.
Customize your Business Plan
All businesses are different. So, don't hesitate to customize your business plan according to your requirements.
Even though our sample business plans are to help you create the perfect presentation for your clients and investors, it is finally up to you to decide how you're going to present your ideas in the best light.
Business Planning Resources
We have plenty of free business planning resources available to help you with your planning. You can download our resources to learn all about business planning.