INTRODUCTION
In this simple guide to project management I will use the analogy of the Project Management Office being like Air Traffic Control for projects and change. The Project Management Office [PMO] will want confidence that any significant project or change is clear about passengers and crew (participants), fuel (budget), destination (outcome) and route (plans). For each initiative we want to be able to give it a thumbs-up or guidance on what is required for permission to take-off or indeed a safe journey: on-time, on-budget, to-specification, low-risk and high-communication.
This simple guide is based on a blend of Waterfall approach (plan before action eg PRINCE2) and Agile (work it out as you do eg SCRUM)
ATC STEP 2 THE BUSINESS CASE PHASE
Business Case At this step we need a written down detail of strategic aim, cost, benefit in a format acceptable to finance for investment or project appraisal into a Business Case (examples provided later)
Key question are we trying to answer: Is the cost/benefit worthwhile?
Process: Complete a Capital Expenditure Form (examples provided later) to seek authorisation for funding. Attach it to the Business Case template and get sign-off from your manager or Executive Sponsor.
HOW WE BEGIN
At this stage we are at the considering the quotes, specifications, proposals. This is the time when we deciding what we want, can afford, and are able to achieve, but not yet committing to how or when.
CASE STUDY
Jane need to understand all the tasks and their costs so that she knows she can afford the project or indeed how much to borrow to be able to fund the project. This is not starting the project, only assessing the cost.
CLARITY WRITTEN DOWN
There are the questions your idea phase should aim answer
Question 1 Question to answer: Is the cost/benefit worthwhile?
Question 2 Which BU or Function is this for? Which programme will this be part of?
Question 3 What are the key benefits of this change?
Question 4 How have your tested/trailed this idea?
Question 5 What other options are available?
Question 6 What are the timescales?
Question 7 What are the major risks?
Question 8 What would the impact be?
Question 9 What could/should we do to limit this?
Question 10 Who should manage this risk?
Question 11 What are the benefits, disbenefits and costs of this change?
Question 12 Accounting Rate of Return: Does the project meet the target return? Payback Period (Years) How long will it take to repay the initial investment?
USEFUL LINKS AND REFERENCES
About Agile
https://www.guru99.com/waterfall-vs-agile.html
About Waterfall and the leading approach to Waterfall which is PRINCE2
https://prince2.wiki/
ABOUT THE BLOG
This is a series of coaching blogs that eventually will become a book. By blogging each item I hope to share each element in easy to read bite size chunks, maybe invite some people to subscribe to see the next posting and hopefully encourage some comments, feedback and suggestions which will improve the content for the blog and eventually the book. All comments and feedback are therefore welcome.
