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The role of financing methods in the success of small project management: A review

Year: 2024
Type: article
Abstract: The present research looks at the role of financial approaches in the success of small-project management. The research highlights the significant role of small projects in various economies and their ability to bridge the gap between large and small-scale initiatives. Policymakers recognize the importance of small projects in achieving economic and social goals. Small and medium-sized enterprises face challenges in project management, particularly in the globalized business environment. Adequate funding and competitive pricing are essential to overcome these challenges and meet the increasing demands placed on organizations. The research problem focuses on how financing methods can effectively contribute to the success of small projects The methodology used theoretical and descriptive, which focus on analyzing previous studies, describing the components of small projects and financing methods, and discussing hypotheses through gathering information from paper sources and internet sources utilized and relevant information on financing methods and their impact on small project success. The literature review involved analyzing previous research, describing components of small projects and financing methods, and discussing hypotheses related to success factors. The study delves deeper into the relationship of funding techniques and the success of small initiatives, taking into account the various types of financial resources available and the significance of financial inclusion. It draws on the experiences of many nations and financial institutions to offer light on theoretical frameworks and success criteria for funding small projects The study emphasizes the crucial role of financing methods and financial management in meeting the resource needs of organizations and satisfying customer demands in small projects. Success factors associated with financing small projects include proper financial planning, access to diverse financial resources, and financial inclusion. The paper concludes by outlining by understanding the significance of small projects, utilizing appropriate financing methods, and addressing the challenges in small project management are crucial for achieving success. Policymakers, organizations, and individuals should focus on implementing effective financial strategies and considering success factors to ensure the success of small projects.
DOI: 10.65115/ecwh9n28
Language: English
Open Access status: diamond
OpenAlex ID: W4415109683
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