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.
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...
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.
Regardless of the chosen approach and management strategies for implementing a project, there are always some alternative ways to implement the project using the same resource base and meeting the same business need. Such ways are called “project alternatives“. In the Initiation Phase, the identification and management of project alternatives will provide options for completing the project, while addressing the original business problem and delivering the expected business benefits.
Business Case is one of the primary documents that allow summarizing the need for launching a project and analysing possible alternatives. Throughout the lifecycle of the project this document is used to show the project justification and reasonability. In the Initiation Phase, Business Case is used as a way for making decisions on initiating the project, setting primary goals and defining the cost-benefit ratio.
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