Startups Are Quick and Flexible
Those in charge of start-ups are constantly forced to decide what takes highest priority: profit or gaining more customers? the investors’ wish list? or new projects that prepare the start-up for rapid growth?
There is also the dilemma that key employees threaten deadlines and turnover. Because of their unique skills, they are expected to be involved in every project, which leads to either scheduling conflicts or burnout. If a start-up with only one outstanding front-end developer has to implement different web projects, each of which requires an excellent front-end developer, a resource bottleneck is automatically created. None of these projects can be completed on schedule.
So, start-ups must always decide very quickly which projects are most important and which projects require which resources.
While established companies react with exaggerated micromanagement, bureaucracy or complex project value calculations, start-ups remain flexible.
Entrepreneurs and millennials are used to working on different projects at the same time and using different tools and methods to assess the priority of projects. They do not try to use one scale for everything, but are able to compare apples to oranges without relying on a rigid or obsolete PPM process.
Plus, start-ups usually have shorter decision-making processes. What used to take another company a month now takes a week, and what used to take a day is settled in an hour. Today’s world is changing rapidly and millennials are following suit with start-ups that quickly adapt to those changes. This saves resources and leads to more efficiency throughout the company.
And finally, start-ups realize that new data and developments in the market can quickly throw a project plan off course. For this reason, they increasingly focus on adaptive strategies in PPM so that they can react as quickly as possible and avoid a standstill. If a great new project is highest priority, they might wait until the next sprint to make changes, but they won’t wait until the next quarterly meeting.