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Project Sponsorship
Project sponsorship is the ownership of projects on behalf of the client organization. There are two main differences between project sponsorship and project management. Firstly project sponsorship includes the identification and definition of the project whereas project management is concerned with delivering a project that is already defined, if only quite loosely. Secondly the project sponsor is responsible for the project’s business case and should not hesitate to recommend cancellation of the project if the business case no longer justifies the project. Project sponsors can encourage separation of decision making responsibilities between project manager and project sponsor, accountability for the realisation of project benefits, oversight of the project management function and can carry out senior stakeholder management. Skills The project sponsor or executive sponsor needs a range of skill sets, or at least access to skill sets which include appreciation of corporate strat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Management
Project management is the process of leading the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time, and budget. The secondary challenge is to optimize the allocation of necessary inputs and apply them to meet pre-defined objectives. The objective of project management is to produce a complete project which complies with the client's objectives. In many cases, the objective of project management is also to shape or reform the client's brief to feasibly address the client's objectives. Once the client's objectives are clearly established, they should influence all decisions made by other people involved in the project – for example, project managers, designers, contractors, and subcontractors. Ill-defined or too tightly prescribed project management objectives are detrimental to decision-maki ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Case
A business case captures the reasoning for initiating a project or task. It is often presented in a well-structured written document, but may also come in the form of a short verbal agreement or presentation. The logic of the business case is that, whenever resources such as money or effort are consumed, they should be in support of a specific business need. An example could be that a software upgrade might improve system performance, but the "business case" is that better performance would improve customer satisfaction, require less task processing time, or reduce system maintenance costs. A compelling business case adequately captures both the quantifiable and non-quantifiable characteristics of a proposed project. Business cases can range from comprehensive and highly structured, as required by formal project management methodologies, to informal and brief. Information included in a formal business case could be the background of the project, the expected business benefits, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stakeholder Management
Stakeholder management is a critical component to the successful delivery of any project, programme or activity. A stakeholder is any individual, group or organization that can affect, be affected by, or perceive itself to be affected by a programme. Stakeholder management is a four-step process of identifying stakeholders, determining their influence, developing a communication management plan and influencing stakeholders through engagement. Customers Within the field of marketing, it is believed that customers are one of the most important stakeholders for managing its long-term value, with a firm's major objective being the management of customer satisfaction. Organizational stakeholders It is well acknowledged that any given organization will have multiple stakeholders including, but not limited to, customers, shareholders, employees, suppliers, and so forth. The concept of effective stakeholder management is of central concern in research domains such as crisis managemen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Sponsor
Executive sponsor (sometimes called project sponsor or senior responsible owner) is a role in project management, usually the senior member of the project board and often the chair. The project sponsor will be a senior executive in a corporation (often at or just below board level) who is responsible to the business for the success of the project. Responsibilities The sponsor has a number of interfaces and responsibilities for the project. Board The responsibilities for which the sponsor is accountable to the board are: * Provides leadership on culture and values * Owns the business case * Keeps project aligned with organization's strategy and portfolio direction * Governs project risk * Works with other sponsors * Focuses on realization of benefits * Recommends opportunities to optimize cost/benefits * Ensures continuity of sponsorship * Provides assurance * Provides feedback and lessons learned Project manager The governance activities that take place between the sponsor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Strategy
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.qn, date=June 2018 Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models can include a feedback loop to monitor execution and to inform the next round of planning. Michael Porter identifies three principles underlying strategy: * creating a " unique ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Manager
A project manager is a professional in the field of project management. Project managers have the responsibility of the planning, procurement and execution of a project, in any undertaking that has a defined scope, defined start and a defined finish; regardless of industry. Project managers are first point of contact for any issues or discrepancies arising from within the heads of various departments in an organization before the problem escalates to higher authorities, as project representative. Project management is the responsibility of a project manager. This individual seldom participates directly in the activities that produce the result, but rather strives to maintain the progress, mutual interaction and tasks of various parties in such a way that reduces the risk of overall failure, maximizes benefits, and minimizes costs. Overview A project manager is the person responsible for accomplishing the project objectives. Key project management responsibilities include * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
