Entrepreneurial Planning for the Small-Scale Project

The development and publication of formal planning methods reflect a preponderance of large rather than small-scale applications and an emphasis on projects already functioning rather than those in a start-up or termination mode.

This situation is both unfortunate and to a great extent unnecessary. Formal planning can play as important a role for the entrepreneur as for operating management. Further, it is as vital for the success of small-scale as for large-scale projects. Experience with a number of small-scale projects reveals certain generic insights, if not unique principles, of value in applying formal methods to entrepreneurial planning for the small-scale project. Thus this paper contends that (1) Formal methods have an important role in successful planning for small as well as large-scale projects and (2) “Entrepreneurial” and “Small-scale” present a special set of restrictions and opportunities which should shape the selection and application of planning methods.