Entrepreneurship Project: Project Management Consultancy Business Plan

This entrepreneurship project details the creation of a project management consultancy. It covers the business's target market, focusing on service industries needing IT support, and outlines the organizational structure with departments catering to specific industries. The project explains the consultancy's service offerings, which include providing IT support throughout client projects, aiming to be a one-stop shop for all IT needs. The pricing strategy involves charging fees based on project nature, duration, and resources, with payments structured across project milestones. The project emphasizes customer loyalty and long-term client relationships as key business goals. Desklib is a great resource for students looking for similar solved assignments and past papers.

Entrepreneurship
Project Management

Project management 1
Project management
Entrepreneurship involves the process of starting a new business (Drucker, 2014). I plan to start
my own project management consultancy. A project management consultancy ideally involves
providing guidance to corporates about the informational technology of various projects that they
will undertake. The target market of our business would involve leading corporates who would
be requiring IT help in their projects. Service industries like hospitality, restaurants, advertising,
construction, healthcare and financial services would be specifically targeted (Wilson, 2016).
The organization structure of the business defines how task allocation, supervision and
coordination are directed throughout the firm. Our business would have various departments and
each department would be given responsibility to target and cater to a particular industry. Within
the department there would be sub-departments including marketing, sales, finance and customer
service. There would be a finance department and a human resource management department to
manage the finances as well as human resources of the organization. To begin with, the span of
control would be limited to 4 people reporting to 1 person (Tyson, 2014). This number would be
subsequently increased with the growth of the business.
The sales team of different departments would target corporates of different industries via cold-
calling, references and events (Armstrong, Kotler, Harker & Brennan, 2015). Every department
would have the autonomy to conduct various activities within the defined budget in order to
attract customers. Once the client is on board, consultancy would be provided to the organization
regarding the information technology part of their projects. Our business would be the IT support
system for the clients from beginning till the end of the project. Our agenda would be to ensure
that we are the one stop shop for all the IT needs of our clients. We would work towards
developing solutions that would lead to enhanced profits of clients.
For the consultancy service, we would be charging a fees from the clients. This fees would vary
from client to client depending upon the nature of work, duration of the process, resources
involved and overall cost of the project. 50% of the fees would be charged in advance, 25% of
the fees would be charged after 30% completion of the project and the remaining 20% would be
charged after the project is 80% complete.

Project management 2
We would work towards ensuring customer loyalty by catering to their needs in the most
effective manner. For our personal growth, we would ensure we take up challenging tasks to
enhance our scope of services. Client’s maximum profits and long term relationships with clients
would be the main agenda of the business.

Project management 3
References
Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction.
Pearson Education.
Drucker, P., (2014). Innovation and entrepreneurship. United Kingdom. Routledge.
Tyson, S., (2014). Essentials of human resource management. United Kingdom. Routledge.
Wilson, A., (2016). Services marketing: Integrating customer focus across the firm. United
States. McGraw Hill.