A Terms of Reference (ToR) spells out a project’s background, purpose, objectives, and the criteria needed for key project management decisions, along with its activities, risks, budget, and required expertise. This guide includes a free, ready-to-fill ToR Word template, a step-by-step writing guide, and a quick quiz. No email required.
Leading organizations regard ERP solutions as cost-effective investment projects that will deliver value to their business. But these organizations remain cautious about such projects because of economic recovery and business changes. They need to be sure technology investments will be profitable and value-driven. And careful planning will be a great way to ensure the business value and profitability of any ERP investment project. In this article, let’s talk about planning for ERP investments in a typical company.
The top 10 tips and considerations about reaching effectiveness in managing various projects are described in this publication. Here we talk about the meaning of project effectiveness and explain what means to be effective in terms of producing design results.
Managing records on a project is an essential activity that makes it possible to handle and use project documentation in the way that ensure smooth capturing of documents and papers by seniors, team members, and other stakeholders. Being a part of overall project document management, records management allows a project manager to direct and control document flows throughout the project lifecycle while ensuring that every single document or record serves the operational needs and helps teams capture and retrieve necessary information. It creates a framework for running project activities and procedures and paves the way for analysis, lessons learned, historical reviews, etc.
The project sponsor role is defined as the range of duties and responsibilities allocated to an individual or a group within the performing organization to provide necessary financial resources and ensure that the project is successful at the business or organizational level. It is the role of the project manager’s boss.
In this context, because the project sponsor role bring a significant value to project success, it is vital to understand selection and allocation of the role. The sponsor is an individual or a group who acts at the senior management level to be as an advocate for the project and ensure that the project delivers the desired business outcomes, under the allocated resources. The sponsor provides internal political support and ensures right prioritization of available funds and resources.
