A Business Case For Initiating A Project Or Task

A well written, clearly defined and communicated business case is essential in pathing the way for good project management and achieving the desired outcomes for a project. (Success) This

Evaluate the importance of understanding the various stages of the project life cycle and its possible contributions to a project.

The first step will be to look at the goals of the project, and align them with the mission of the company. Systematically, the project will be broken into phases: Planning, Organizing, Staffing, Directing, Coordinating, Budgeting, Evaluating, and Reporting. Each phase will be further broken down into tasks and placed into a work breakdown structure. From this view, one is able to see the entire project duration, critical path, and milestones. The Planning phase is integral in any project. This phase of the project defines project objectives, mission, goals, and approach. In addition, outlining key elements of the project is critical: performance expectations, risks analysis, and contingency plans. However, after completion

This assignment consists of three (4) sections: a written project plan, revised business requirements document, project plan PowerPoint presentation, and a finalized project plan. You must submit the four (4) sections as separate files for the completion of this assignment. Label each file name according to the section of the assignment it is written for. Additionally, you may create and / or assume all necessary assumptions needed for the completion of this assignment.

Information about the project’s background will be provided to help understand how the project came about. The case study should also include a section on a scenario where the project will have an impact. Building on this scenario, the case study will provide an explanation of all the features of the project and how they will be beneficial to the sponsor. The associated risks should be provided to show the possible negative impacts that the project may impose on the company. A schedule will need to be provided to outline when the product will be delivered or when pieces of the project will be delivered. The project schedule may include a list of the project requirements need to fulfill each piece of the project. One of the biggest components of the case study is a detailed financial analysis. This section will list what is the expected cash out flow the company is responsible for and what the financial benefits are. This financial analysis will be tied to a timeline to show when the project will start making money after its completion. This section may include a lot of details on where the money is going to be spent so that all money is accounted for. A final section may include what the exact deliverable will do when it is completed and what resources will be needed to maintain the completed product or

3. Companies use many different formats. You may have to create subsections depending on research or the company. The plan must be written from an HRM perspective as a business partner.

Discussion Question: Project Life Cycle. The four main elements of the project life cycle are defining, planning, executing and closing. Give an example of a task you performed on a project, either as a leader or team member, and identify what stage of the life cycle it was in and why. Describe if you felt the task was strategically important to the project and also the company. Respond to at least two of your classmates’ postings.

Example Internal Deliverables Name Project Charter Business Requirement Specification Weekly Reports Prototypes x 3 Etc. Description Document identifying how the project will be managed Document identifying the requirements for the project Status reports to be issued weekly Three prototypes will be allowed for in the development.

Within every project, issues occur that require alterations in the schedule or scope of the project. The change management plan outlines the process in which these recommendations be submitted, evaluated, and approved or declined (Vaidyanathan, 2013). Appendix CC demonstrates the change request form that will be utilized by team members. These forms are assessed and reviewed by the change control board that will be further discussed in the project execution section.

The project life cycle consists of the conceptualization phase, the planning phase, the execution phase, and the termination phase.

You may wish to use a business case template such as the ones provided for part b, or follow your organisation’s procedures/template for business case development.

What goes in a business plan? The body can be divided into four distinct sections:

The nature and scope of a project is determined at the initiation stage. This involves analyzing the business needs, developing goals, budgets, tasks, deliverables, and the stakeholder analysis. The project planning stage determines the planning team, develops the scope, and identifies work breakdown structure and activities that will be needed to complete deliverables. The planning stage also estimates time and cost activities, develop schedule and risk plan, and gain formal approval for work to begin. The executing stage involves all processes used to meet the project requirement and involves managing people and resources. The process that entails the identification of potential problems and

From the initial development stages of a built development, project definition is carried out in the period from receiving the performance specification during the inception stage, up until the receipt of full planning permission. The RIBA Plan of Word specifies work stages to reach the planning application stage where the clients’ approval allows the scheme to be submitted. These stages consist of: inception, feasibility, outline proposals and scheme design. The CIOB Code of Practice talks about an outline brief moving towards a full definition that covers the clients’ objectives, functional requirements, project outline scope and constraints. The detailed brief provides the resource requirements, a scheme design and a feasibility and strategy appraisal. The development of the brief is a critical stage at which the scope of the project is properly established and verified by the project constraints, which ultimately leads to the planning permission to process.

The focus of the business case and the level of detail required in a business case will depend on the size of the business, the impact to the business and the proposal itself (State of Victoria, 2010).