Technology Start-up Firms as a Portfolio of Projects: The Case of DIMA 3D

Start-up firms are novel companies, looking for a validated business model. In this paper, we argue that start-ups can be managed more effectively and efficiently as a portfolio of projects, instead of using the classical functional organization. As new firms, start-ups must define and implement new products and services, develop new markets, stablish logistic chains, etc. As the business model is not completely validated, these firms need to implement “minimum viable solutions” (prototypes) to be tested in real markets without making huge expenses. We show that a project portfolio management approach allows start-up firms to develop quick and low cost solutions.We analyze the case study of DIMA 3D, a real Spanish start-up in the 3D printing sector. The firm has grown quickly during its two years of life, thanks to a pure project portfolio approach. The portfolio include projects related to new product and market development, product improvement, R&D, etc. By means of project portfolio management, the firm has gained flexibility and has developed organizational competences to give quick responses to the feedback received from the market. Human resources are engaged in several projects at the same time: One person can be the project manager in some projects and a team member in others. People are fully pointed to project deliverables.