Six ways to bring some entrepreneurial spark to your projects

The future of project management is likely to demand even greater flexibility, agility and responsiveness. Yet, with the amount of process involved in running projects, it can be easy to feel frustrated or penned in.

We’re not about to suggest throwing out the rulebook and taking massively risky decisions – but there is plenty of inspiration to be drawn from the dynamism of start-ups.

Here are six ways to inject entrepreneurial spark into how you run your projects…

1. Define the value

Successful entrepreneurs are adept at turning strategy into action while staying focused on the real goal – not just the ‘what’ of the project, but the ‘why’.

“Revisiting who you’re really benefiting can be very hard, but it’s probably one of the biggest lessons that entrepreneurship has to offer,” says Alejandro Vargas, Director of the Business Project Management MSc course at London South Bank University.

“Once you get more of a finely tuned understanding of why the project is going to be beneficial, you can start identifying space for innovation, what additional unforeseen opportunities you might be able to exploit and what kind of uncertainties you may face.”

2. Get comfortable with ambiguity

No one knows what’s around the corner. One defining trait of entrepreneurs is that this doesn’t faze them.

When Dev Amratia was considering launching nPlan, his AI-powered project consultancy, it was his girlfriend who allayed his fears: “She said the worst that will happen after nine months of trying is that it doesn’t work,” he recalls. “You’re still just as employable as you were, probably more so.”

Project-level risk may come with far broader consequences, but it’s still worth stopping to see whether you’re embracing uncertainty as boldly as possible. Perhaps it’s not really those broader risks that are holding you back, but more personal fears that you need to address.

3. Focus on the human

With software increasingly handling technical tasks, the role of the entrepreneur – and the project manager – is becoming more about emotional intelligence.

“We all have to get comfortable with how much work will change, but being able to work with other people will be critical,” says Vijay Luthra, a veteran project professional who launched a healthcare start-up, Ceva Global, in 2023.

“It’s about the ability to convene, to create the conditions for success in projects. You need to give your teams the autonomy to get on and manage themselves. Make sure they have the right skills and resources, and that they know the parameters.”

4. Think results, not process

If start-ups are slow and bureaucratic, they may be priced out of the market. Adaptability and speed are key to survival.

Project professionals may rely more on process, but does it always make sense?

“Each process was put there for a reason, once upon a time,” says Troy Lancaster, Programme Manager at D2 Global. “You have to ask yourself why it’s there. If you can understand the original intent, you can start to apply a more entrepreneurial mindset of ensuring every idea adds value.”

Examine your practices, even those that feel fundamental, to see if there’s anything you can retire.

“Letting go of these procedures sometimes is healthy,” says Luthra. “It’s ultimately how we grow.”

5. Hand people opportunities

Larger project teams may lack the scope for advancement, which can stifle people and innovation.

By contrast, start-ups are often growing so fast that there’s plenty of room for new experiences, growth and promotions.

Lancaster explains how graduates helped him to write D2’s strategies around social values and net zero. “Everyone can play their part,” he says. “If you’re interested in something, you can put your hand up and get involved. And that helps the business get better.”

Creating an open environment will benefit your team and may inject new life into your projects.

6. Measure yourself

If you’re seeking a concrete benchmark, try EntreComp, the EU’s entrepreneurship competence framework. EntreComp’s creators describe entrepreneurship as a lifelong competence and say entrepreneurial value creation and learning can take place in any sphere of life. The framework identifies the traits that make a person entrepreneurial and can serve as a handy reference point for you and your team.