Your Guide to Project Management Best Practices

Author: Eric Morkovich

Cost Projection Statement and Analysis

PM Framework

Cost Projection Statement and Analysis

Stating cost projection is an activity carried out during the project initiation phase to identify costs for development, implementation and maintenance of the project. The analysis of costs is a tool of project cost planning and management to identify, estimate and describe total cost of project management initiative. Cost projection statement and analysis are required activities that allow making the project estimated and well-grounded in financial terms. Among other tools, cost projection estimates and spreadsheets are used to develop the project charter. They are developed with help of project costing software.

Goals of a project

PM Tips & Ideas

Project Goal Statement

A Project Goal Statement is a clear picture view of what is to be accomplished by the project. It is a formal document to be created at the Initiation Phases showing the project context, including the project purpose, the quality focus, and the viewpoint. The project goal statement document should clearly and unambiguously point at the benefits that the sponsoring organization will gain in case the project will be successfully completed.

statement of project vision

PM Tips & Ideas

Project Vision Statement

A Project Vision Statement is an idealistic view of the desired outcomes to be produced for the business after successful project completion. It is a vivid description of what the business will be like to inspire the project beneficiaries to initiate the project. The vision statement document is an attempt to visualize the project results at the initiation phase in order to focus the business on those benefits it will gain after the project accomplishment.

communications plan

Templates

Project Communications Management Plan

In general, a project communications management plan is a formal document that identifies how communications will occur within a project and how they will be managed. In this Project Communications...

The Concept of Feasibility Study in Project Planning

PM Framework

The Concept of Feasibility Study in Project Planning

Feasibility study is one of the basic concepts of successful project planning. It is used to determine whether a given project is appropriate for further development and delivery. In other words, project feasibility studies enable you to assess whether or not the ideas and findings behind your product or service can be shaped to be relevant, cost-effective and sustainable.