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Timelines and Gantt charts are essential for effective project management as they enhance time allocation, improve team communication, and ensure accountability. Gantt charts specifically aid in planning, scheduling, resource management, and risk identification, promoting transparency among stakeholders. Before starting a business, it is crucial to develop a business plan, conduct market research, refine the business idea, identify the target audience, and establish a marketing strategy.

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10 views2 pages

Untitled Document

Timelines and Gantt charts are essential for effective project management as they enhance time allocation, improve team communication, and ensure accountability. Gantt charts specifically aid in planning, scheduling, resource management, and risk identification, promoting transparency among stakeholders. Before starting a business, it is crucial to develop a business plan, conduct market research, refine the business idea, identify the target audience, and establish a marketing strategy.

Uploaded by

lukhanyomafilika934
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Importance of timelines and Gantt charts/Work Breakdown Structure (WBS):

•Importance of timelines:
-Better time allocation: For any business,organisation or institution,time plays a big
role in planning.Time is good in planning,implementing and finishing tasks.
-Improved team communication: A study by Cortex found that 57% of projects fail
because of poor communication between team members.
-Accountability: motivation and accountability create a sense of urgency of the task.
-Prioritised tasks done first: Timelines are very important in ensuring the quality of
priority.To visualise tasks and milestones within a project timeline,you can use
timelines to present ideas over time.
-Create your project management timeline: It is a good idea to use project tools, like
Gantt charts, critical path analysis and project management. Sofware can help
visualise the timeline.

•Importance of Gantt charts/work breakdown structure(WBS):

1.Enhanced planning and scheduling:


•Visual timeline:
-Gantt charts provide a visual presentation of the project schedule,like showing start
and end dates for each task,making it easy to plan and track progress.

2. Improved communication and collaboration:


•Stakeholders engagement:
-Gantt charts can be used to keep stakeholders aware about the project's status.
Promoting transparency and encouraging their active members.

3. Efficient resources management:


•Resources optimisation:
-By visualising resources allocation, Gantt charts help in using resources wisely and
avoiding conflicts or problems.

4. Risk management:
•visual risk identification:
-Gantt charts can help in identifying potential risks by highlighting tasks with tight
deadlines or complex dependencies.

Factors that must be considered before starting up the business:

•Business plan: A business plan can help you see whether starting a business is the
right decision. A good business plan is like a blueprint.
•Market research: Before launching your business, it is very important to conduct
through market research to see their target audience.
•A business idea: Every business begins as an idea. Maybe you already have an
idea or you still need to brainstorm. It will tell you whether your business has a place
in the market.
•Know your audience: This is a good first step, but before launching your business,
determine your target audience, you can narrow down your focus to what specific
audience you plan to target.
•Marketing strategy: outlines an overall strategy and day-to-day tactics used to
execute it.

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