How a Project Manager Can Save Money for Your Startup

This article is based on my experience in managing IT projects and the latest findings from international surveys. This article is based on my experience with managing IT projects and the latest findings from international surveys. This question is often asked by entrepreneurs, especially those with tight budgets. The answer is simple: “Because you don’t have the right project manager (PM), you run the risk spending more. This article from PMI shows that businesses who invest in proven project management practices are 28 times less likely to lose money. This is a remarkable figure, but it’s easy to understand. These organizations rarely, if ever, fail to complete their projects. They are also more likely to launch the product on time, within budget, and within scope. What makes a project manager so important for startup budgeting? This article is a combination of seven years of experience in IT project managing and recent international surveys.
PM views the project from a business perspective
Developers will focus on the technology stack and the complexity involved in software development when you present your startup idea to them. You can’t rely on their business intuition. A project manager will, however, first consider the relevance and viability of your idea. Startups fail because people don’t want what they have to sell (in fact, this Gadgets Now article shows that 42 percent of unsuccessful cases are due to a lack of a market need). Is your project worth the money? Let me give you an example. One time, a client asked us to create a social networking service for the deceased. Or, more accurately, for their living relatives, who don’t have the time to visit cemeteries. The app would allow them to access a virtual tomb where they could send condolence messages and light memorial candles. However, it was doubtful that such a project would be a commercial success. Our PM team suggested that the client validate their business idea by creating a landing page to avoid spending money on a poor app. We created a simple MVP with an emailed sign-up form. It was less expensive than the more expensive ones. We found that there was very little demand for virtual cemeteries services after analysing user feedback. The client eventually decided to spend their money on a more promising project.
PM is a translator of technical language into business terms
Software engineers are not good communicators. Although they are skilled at their job, many software engineers struggle to explain complex issues clearly and concisely. It will be difficult to understand the “developers’ language” if you don’t have a strong technical background. Project managers are the bridge between developers and entrepreneurs when it comes to discussing the solution-stack and development process. They communicate your goals, vision, and requirements to a development team. PMs allow for smooth and transparent communication which saves you time, energy and money.
PM helps to avoid cost and time overruns
According to the Wellingtone survey on project management, only 37% of –Aompanies finish their projects on-time and only 42% complete them within budget. Businesses who work directly with a team of developers have a significantly higher chance of cost overruns and time delays. Engineers are not managers. Engineers are not managers. I have seen it happen all too often.