Special projects: Overview, definition, and example
What are special projects?
Special projects refer to unique or non-routine tasks, initiatives, or undertakings that are typically outside the scope of regular operations or standard business activities. These projects are often time-bound and have specific goals or objectives that require focused attention, resources, and effort to complete. Special projects may involve new product development, business expansions, marketing campaigns, process improvements, or any other activity that is distinct from the day-to-day operations of a business.
In many cases, special projects are assigned a separate budget, timeline, and set of resources to ensure that they receive the attention and management they need. These projects often require cross-functional collaboration and might involve multiple stakeholders or departments within a business.
Why are special projects important?
Special projects are important because they allow businesses to explore new opportunities, drive innovation, and achieve specific goals that might not be part of the regular workflow. For SMB owners, taking on special projects can lead to growth, market expansion, or improvements in products and services. By focusing on these projects, businesses can differentiate themselves, adapt to changing market conditions, and meet specific client or internal demands that are outside the routine.
Moreover, special projects can help businesses stay competitive and improve their long-term strategy by addressing emerging needs, testing new ideas, or responding to customer demands in ways that regular operations may not be able to.
Understanding special projects through an example
Imagine you own a small marketing firm, and you are hired by a client to launch a new product. This new product launch is a special project, as it involves creating a detailed marketing campaign, developing promotional materials, and coordinating with influencers and media outlets. This project is outside the scope of your firm’s usual activities, but it’s an exciting opportunity to showcase your team’s abilities and expand your portfolio.
In another example, as a retail business owner, you decide to open a new location in a neighboring city. The setup, marketing, and staff training involved in opening this new store would be considered a special project. You need to allocate extra resources, create a project timeline, and assign a project manager to ensure that the store is launched successfully.
Example of a special projects clause
Here’s an example of what a special projects clause might look like in a contract:
“The Parties agree to collaborate on the completion of a special project, as described in Exhibit A. This project will include the development and implementation of [describe project scope]. Both Parties will allocate the necessary resources, staff, and budget to ensure the timely completion of the project, which shall be completed by [insert project deadline]. Any changes to the project scope, timeline, or budget must be mutually agreed upon in writing.”
Conclusion
Special projects are important for driving innovation, growth, and new opportunities within a business. For SMB owners, taking on special projects can be a key strategy for expanding the business, improving processes, or exploring new market segments. Proper planning, resource allocation, and clear communication are essential to successfully managing special projects and ensuring they meet the established objectives. By defining special projects in contracts, businesses can ensure all parties are aligned on the scope, goals, and expectations, ultimately leading to successful outcomes.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.