[3 minutes reading]
So you have a nice corporate Products Roadmap (see my previous post 5 tips on ... Product Strategy & Product Roadmap) that includes the products that will help your business succeed. Now let’s start with its execution, step by step.
These steps are defined in the phases that compose the project life cycle (not the product life cycle). In this case, I will consider how PMBOK groups these phases.
There are some initial steps that are quite common in all kinds of projects, even if they use Linear Process models or Iterative Process models (see my previous post 7 tips to choose a Methodology for Software Development):
Pre-Project Work
This phase is where we should evaluate in some detail the real business need of the project and the estimation of the costs through the preparation of the Business Case document. It might be a very detailed study or just something simple and quick depending on the project, but is something key to work on. It is not uncommon to find companies that jump from the corporate Products Roadmap (if they even have one) to the project execution, and this directs them to big holes of investment in projects with no clear ROI.
A Needs Assessment often precedes the Business Case. The Needs Assessment involves understanding business goals and objectives, issues, and opportunities and recommending proposals to address them.
The project Benefits Management Plan is the document that describes how and when the benefits of the project will be delivered and describe the mechanisms that should be in place to measure those benefits.
Starting the Project
So we have this Business Case that gives us some understanding of where we are investing the money from the company. Well, the next step is to prepare a Project Charter. This is a formal summarized document that includes the following information:
- Project purpose;
- Measurable project objectives and related success criteria;
- High-level requirements;
- High-level project description, boundaries, and key deliverables;
- Overall project risk;
- Summary milestone schedule;
- Preapproved financial resources;
- Key stakeholder list;
- Assigned project manager, responsibility, and authority level; and
- Name and authority of the sponsor or other person(s) authorizing the project charter.
This document is approved by the Project Sponsor and when it is signed, gives the Project Manager full authority to start the project.
Many people see this document as “another boring document that the bureaucracy of the company demands” but this is not at all that. It is a key document to understand the whole key elements of the project from the management standpoint. Without it, management might take decisions without enough global vision of the project.
Once the Project Charter is approved I recommend going ahead with a kickoff meeting. It is the first meeting with the customer or sponsor and the project team, to give a vision of the project. Many companies do not pay enough attention to this meeting, but it is crucial for the success of the project as we will involve the team in the project from the beginning. This will help identify risks and help in the planning process.
Organizing and preparing
Here is where the Project Management Plan is prepared. The project management plan is defined as the document that describes how the project will be executed, monitored, controlled, and closed. It includes all the rules of the game of running a specific project, including the methodology we would like to follow.
This part is so important that I will dedicate my next post to this subject, so I see you then!
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