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.
Project plan development is one of the most critical activities within the project management lifecycle. It is the main part of the Planning Stage. The project manager takes the ultimate responsibility for creating a plan, which is a formal document showing the basis upon which to assess performance of the project and measure its results. Let’s review the major steps to develop a project plan in detail.
n this Project Planning Checklist, a series of simple yet important project planning steps are shown to help you pave the way to successful project management experience. The checklist depicts how the project planning process can be organized considering such aspects as the initiative, paperwork, implementation, tracking, and finalizing.
In the literature on PM (project management), the term “risk management strategy” refers to the scope and direction of actions for project practitioners to embrace the likelihood of both positive and negative consequences that can potentially happen. Such a strategy determines what configuration and implementation of available resources are best to use within a challenging business environment in order to ensure successful accomplishment of project goals and adherence to stakeholder expectations…
Project Management Plan is not a one-time and permanent document; it’s developed at planning stage and continuously updated throughout the project as new changes occur. Project Management Plan includes definitions of an owner’s objectives, technical requirements, calendars and schedules, resources, budgets, and management actions. PM Plan also gives a foundation to calculate and prove efficiency. In the context of project documentation, PM Plan serves as the basis and outlines the commissioning plan for the complete execution.
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