The Importance of a PRINCE2 Project

Project
Purpose

A project is a temporary and major undertaking undertaken to solve a problem or to create a new product or service.  The problems or problems to be solved or products or services to be created are usually usually technical in nature and are problem areas of the business.  A project may be undertaken to make major improvements to an existing product or to replace an existing product in a satisfactory manner.  In order to solve a problem or better a product, a project is generally undertaken. Outlined on a good PRINCE2 project course.

Scope

A project may be limited in scope of work to one aspect of the business or one function of the business.  The scope of work is the internal boundaries of the project.  Common scope boundaries include the functional areas in which the activity is carried out.  Commonly measured, functional boundaries could include cost centres, production, marketing etc.The scope of work is different from quantity and revenue, because quantity and revenue could be easily classified as a part of the whole.  A project is, however, a part of where a possible sub-project is part of the larger project, and should be though to as such.  There should be clearly defined boundaries between the main research and development activities and the Contract complexity.

Planning

Like most human endeavors, the planning of a project should be qualitative, prioritising the key elements of the solution. prioritise the project goals, Time (Assign to dates)  Location, Delivery method, Budget, Content and Communications.  However previous activity levels and the present status of the project should be considered when costing.  It can be worthwhile to involve the Project Sponsor if they are normally the dominant stakeholder, as they will have a more genuine interest in the solution.

Risk Analysis

While a project may be Action Oriented, risks will need to be evaluated as part of the Risk Management process.  If the project is Action Oriented, then project risks should be anticipated.  Go over projected risks to assist in the Risk Analysis processes.

Project Delivery

Content

Once the project has been started, the scope and the plan have been established, then the costs, time and resources need to be integrated and coordinated.  The products or service should be lifecycle controlled, meaning thatthey stay the same until such time as they are scheduled to be delivered.  When a product or service has not been delivered on time, it should be identified as being late.To maintain control over the delivery schedule, the project needs to have the appropriate level of communication.

 sugars

Projects have an initial phase following which would normally be deemed completed.  That is why Projects can be further categorised, asjected projects, 172 project etc.. cereOS can normally allow you to have a universal recognition for creating you project work, validating for those of you that have never been on other projects with success or failure.

Social Systems

The knowledge management systems (laspx) used by many enterprises includes the widespread use of intranets, extranets, and data warehouses.  Each of these can contain company wide data indicative of the organisations capabilities, skills and processes.

Business portals

Using Business Portal (Biz) Note software (no different to Microsoft Outlook) you can:  manage your Teams actions, maintain appointments; identify new activities performed byCollaborationfiltering whole documents and documents into too many applications.

Financial Performance

In order to manage change within your organisation, the decisions made need to be tabulated in order to see the financial impact to the group as a whole and to the individual members within that group.  A Financial Performance Report provides a reliable reading of what the organisation has done in the most recent period, compared to what the business was expected to perform, i.e. what it has learnt.

Project Evaluation

It is important to understand that due to the ever changing nature of current, and future business, annual and strategic plan must be evaluated on a fairly frequent basis.  This can be effective only if formal process is put in place, so that performance measures can be established, evaluated and recorded.The first step is to establish a baseline and to make sure that sites adequately collect the baseline data.

Performance Measurement

A number of authors, such as W. Edwards Deming, have suggested formal operational measures be used for project evaluation.

Managing Project Costs

Efficients on projects must have preparedness, resourcefulness, and adequate resources, in greater detail than on any other basis.

Risk Analysis

Risk analysis forms the basis of hazard analysis for the industry.  Risk analysis is the concept, a creative examination of uncertainty within a business process that attempts to balance the desire to find solutions to complexities, with the need to reduce risks and to test those risks against the sponsor’s timeframe, budget and risk appetite or risk tolerance.