LO6 Understanding Planning for success Flashcards
6.1 The importance of a business case throughout the project life cycle
Concept Phase - Launchpad for the project. Justifying the investment and stating why why the project should be delivered and its importance to the sponsoring organisation
Definition Phase - Thorough business case will assist the PM create the PMP. An effective PMP will be developed because the PM will have faith that the defined success criteria and related performance requirements are a realistic proposition. Business case used at gate reviews to ensure continued viability of the project.
Deployment Phase - Plans will be implemented and performance verified through testing and assurance. As outputs developed it is important to establish feasibility of subsequent outcomes and benefits. reference to the business case is key to the most effective decisions being made and continuation of these decisions confirmed
Transition Phase - Most funding has been consumed. Project hopefully reached intended output and likely to achieve outcomes and benefits the business needs. Business case important here as the main reference to review if benefits have been realised compared to what was expected by the stakeholders.
6.2 Benefits Management
Business management plan - Explains how the benefits will be managed. Policies for Measurements, roles and responsibilities, priorities and KPI’s
identification - Requirements captured from project mandate and stakeholders. Benefits recorded together with justification and outline measurement requirements
definition - PM should be aware just how benefits will be realised when project reaches transition into operational use. Benefits should be documented in terms of priority, interdependencies, value, timescale and ownership
Planning - capturing baseline measurements and agreeing targets. Baseline measurements identify current performance of an operation so improvements can be made. benefits plan shows timeline and milestones for realising benefits.
tracking - PM and sponsor agree what benefits are tracked and how which happens in the early life cycle. For example customer satisfaction scores against baseline or increased revenues
realisation -
