‘Project Mgt Basics Breeds Success In Entrepreneurship’

For any entrepreneur to succeed in entrepreneurship, such a person must have mastered the project management basics, says the MD, Sub-Saharan Africa, Project Management Institute (PMI), George Asamani.

Saying success in the digital age requires more than visionary ideas and venture capital, he added that without disciplined execution, robust project management, and a clear understanding of the market, even the most innovative startups risk becoming footnotes in the history of entrepreneurship.

According to him, “1Young people are at the forefront of innovation and creativity in today’s rapidly evolving digital landscape. According to the International Telecommunication Union (ITU), nearly 80 per cent of those aged 15 to 24 used the Internet in 2023, surpassing other age groups. This digital adoption empowers the youth to become innovators, creators, and problem solvers.

“This inherent comfort with digital tools has inspired a wave of startups in areas such as app development, e-commerce, fintech, artificial intelligence, and social media. Many startups have emerged from this generation, transforming industries and redefining how businesses operate in the digital age.”

Technology, he said, is akin to Play-Doh,as it offers boundless possibilities, allowing us to create, innovate, and solve problems, even as technology alone isn’t enough, and much like the mould that shapes Play-Doh into meaningful forms, startups need project management to transform ideas into viable projects.

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Stressing that, project management is the discipline of planning, organising, and overseeing the successful completion of projects, he added that, this involves setting clear objectives, allocating resources, managing risks, and ensuring that projects are delivered on time and within budget while it is a strategic discipline that can make the difference between a startup that thrives and one that fails.

“A startup built on a solid project management framework is also better equipped to align its operations with broader social and environmental goals. Ventures like M-Kopa and Andela exemplify this approach, contributing effectively to the Sustainable Development Goals. M-Kopa’s affordable solar solutions combat climate change by providing access to clean energy, while Andela’s tech training programs empower youth in Africa, promoting quality education and decent work,” he pointed out.

As digital technologies evolve, he said, artificial intelligence (AI) is emerging as a powerful tool that can enhance project management even as AI has the potential to revolutionise project management by automating routine tasks, providing data-driven insights, and optimising decision-making processes.

For young digital pioneers, he advised that leveraging AI in project management can further amplify their impact and drive innovation, saying, PMI recognises AI’s transformative potential and is actively integrating it into its offerings and empowering project professionals in using GenAI through initiatives like PMI Infinity and the new Prompt Library.

To him, “By harnessing technology, young people can create ventures that balance profit with purpose, addressing global challenges while generating economic value. To achieve this vision, we must invest in education and training programs to build their project management capabilities, equipping them to leverage technology for both social impact and business success.”