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The Importance of project management in SMEs: Insights from the CUHK Corporate Innovation Seminar Series 2025

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Today, I had the pleasure of attending the CUHK Corporate Innovation Seminar Series 2025 - "How to Create More Value with Fewer Resources in SMEs" at the HKGCC Admiralty office. The atmosphere was electric, with a diverse group of professionals eager to learn and share their experiences. The seminar provided a unique opportunity to network with like-minded individuals and gain insights into the latest trends in corporate and SME innovation. 

During the seminar, the speaker, Mr. Patrick Lee, highlighted how AI can assist SMEs in overcoming difficulties with limited resources. It was truly inspiring to see young professionals actively participating in discussions on the Corporate Innovation Framework and SME Innovation Framework. The enthusiasm and engagement of the attendees were palpable, reflecting a collective commitment to driving innovation in the SME sector. 

The conference experience was enriched by the interactive sessions and workshops that followed the keynote speech. With facilitation, participants sat around tables to discuss the use of innovative solutions for common challenges faced by SMEs. I also shared how AI assists in writing company policies with proper review by senior management. This hands-on approach not only facilitated deeper understanding but also fostered a sense of camaraderie among attendees. The collaborative environment encouraged the exchange of ideas and best practices, making the learning experience both practical and enjoyable. 

As a project professional, I recognise that these two frameworks, supported by effective project management, enable SMEs to leverage AI and other innovative solutions to enhance their operations and achieve sustainable growth. The project management competence framework is already embedded in the innovation frameworks discussed. This integration often goes unnoticed, yet it’s fundamental to the success of these frameworks. Project management ensures that all aspects of innovation, from idea generation to implementation, are managed efficiently and effectively. 

Project management is essential for the success of Small and Medium Enterprises (SMEs) across various industries. By implementing structured project management practices, SMEs can streamline their operations, enhance productivity and achieve their business goals. Effective project management allows SMEs to better allocate resources, manage risks and ensure timely delivery of projects. 

One of the key benefits of project management in SMEs is improved communication and collaboration. Tools and methodologies such as Agile and Scrum enable teams to work cohesively, ensuring that everyone is aligned and working towards common objectives. This is particularly important in SMEs where resources are often limited, making efficient teamwork crucial. 

Additionally, project management fosters innovation and growth in SMEs. By setting clear goals, monitoring progress and adapting to changes, SMEs can remain competitive in their respective markets. Project management also facilitates better decision-making by providing valuable insights and data, allowing SMEs to make informed choices that drive their business forward. 

In the context of Asia, where SMEs play a vital role in the economy, the importance of project management cannot be overstated. The dynamic and fast-paced business environment in Asia requires SMEs to be agile and responsive to market changes. Effective project management practices help SMEs navigate these challenges by providing a structured approach to managing projects and ensuring that resources are used efficiently. 

By raising awareness of this integration, we can help more SMEs understand the value of project management and how it contributes to their overall success. The seminar underscored the need for continuous learning and adaptation, and I left with a renewed sense of purpose and optimism for the future of SMEs in Asia. The insights gained from the seminar will undoubtedly influence my approach to project management and inspire me to advocate for its importance in driving innovation and growth in SMEs. 

 

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