In Project Management, a project can be referred to as any temporary endeavour undertaken to create a unique product, service, or result. Projects can range from short to long term and something as simple as cooking can be considered a project because it is undertaken to produce a particular result.
There are so many factors that can usher you into starting a project. Here are seven top reasons that will propel organizations or individuals to start a project.
- Market Demand
Whatever has market demand is very likely to spark a new project. Market demand can simply be referred to the quantity of a product or service that all consumers in a particular market are willing and able to purchase at a given price during a specific period of time.
For instance, if a juice company has a particular flavour but customers keep asking for a new flavour that it does not produce, that market demand can cause them to start a project on getting that new product to the market.
2. Strategic Opportunity/Business Need
A project can be started to meet a business need. That need can be to improve the operations of the business or to strengthen work ethics or even for a renovation. An example is installing a new payroll system to improve salary payment.
3. Social Need
Social needs are all around us, ranging from church needs to community needs to even family and friendship needs. Anything a community lacks, but has become a must-have for them can propel them into starting a project. For example, a community deciding to build a library or a church deciding to build a new cathedral will all cause a project to be undertaken.
4. Environmental Consideration
The environment is ours to protect and keep safe. An organization can review its policies to favour the environment because it realizes that their activities are harmful to our environment. For example, a plastic company can decide to go into recycling due to the harmful effects of plastics on our society. That decision will usher them into a new project.
5. Customer Request
This may be similar to market demand but while market demand deals with the general public, customer request is focused on one customer who is demanding for a particular product or service. A customer requesting to get their own website can be the start of a new project.
6. Legal Requirement
Projects can also be started by government demands. An example is when a government requires telecoms operators to set up a system where users can change operators without changing phone numbers. That demand can start a new project for the telecoms organization.
7. Technological Advancements
With the rise of technology, a lot of projects can be driven by a decision to advance or upgrade to technology. An organization can decide to move from issuing to hardcopy certificates to digitalizing that certification process. That will begin a project and it was inspired by technology.
What other factors do you think can propel a project to start?
