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Project Management Project Initiation & Selecting . Session Objectives. Project initiation Selecting Projects Project Charter Washington Mercy Hospital case study. Project Management Processes & IT PM Phases. Project Initiation: Strategic Planning.

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Presentation Transcript
session objectives
Session Objectives
  • Project initiation
  • Selecting Projects
  • Project Charter
  • Washington Mercy Hospital case study
project initiation strategic planning
Project Initiation: Strategic Planning
  • First step in initiating projects: look at the big picture, organization’s strategic plan
  • Strategic planning involves determining long-term business objectives
  • IT projects should (must) support strategic & financial business objectives
identifying potential projects
Identifying Potential Projects
  • Many organizations follow a planning process for selecting IT projects
  • First develop an IT strategic plan based on organization’s overall strategic plan
  • Then perform business area analysis
  • Then define potential projects
  • Then select IT projects & assign resources
selecting projects
Selecting Projects
  • Usually more projects than time & resources available to implement them
  • Important to follow logical process for selecting IT projects to work on
  • Methods include focusing on broad needs, categorizing projects, financial methods & weighted scoring models
focus on broad organizational needs
Focus on Broad Organizational Needs
  • Often difficult to provide strong justification for many IT projects, but everyone agrees they have a high value
  • “It is better to measure gold roughly than to count pennies precisely”
  • Three important criteria for projects:
    • There is aneedfor project
    • There arefunds available
    • There’s a strong will to make project succeed
financial analysis of projects
Financial Analysis of Projects
  • Financial considerations are often an important consideration in selecting projects
  • Three primary methods for determining the projected financial value of projects:
    • Net present value (NPV) analysis
    • Return on investment (ROI)
    • Payback analysis
net present value analysis
Net Present Value Analysis
  • Net present value (NPV) analysis: method of calculating expected net monetary gain or loss from project by discounting all expected future cash inflows & outflows to present point in time
  • Projects with positive NPV should be considered if financial value is key criterion
  • The higher the NPV, the better
weighted scoring model
Weighted Scoring Model
  • Weighted scoring model: provides systematic process for selecting projects based on multiple criteria
    • First identify criteria important to project selection process
    • Then assign weights (percentages) to each criterion so they add up to 100%
    • Then assign scores to each criterion for each project
    • Multiply the scores by weights and get total weighted scores
  • The higher the weighted score, the better
selecting projects cont
Selecting Projects (cont.)
  • Buss’ Grid Approach
    • project selection team
    • grids with criteria, high-medium-low
    • criteria generally financial, technical, enhancing core competencies, organizational fit against cost
    • review proposals, then quick collective judgment
  • Poor Man’s Hierarchy
    • grid with criteria
    • compare each project against each other project
    • assign 1 or 0, sum results

Frame

project charters
Project Charters
  • After deciding what project to work on, it’s important to formalize projects
  • Project Charter is document formally recognizing existence of project & provides direction on project’s objectives & management
  • Key project stakeholders should sign project charter to acknowledge agreement on need & intent of project
project charters17
Project Charters
  • Unfortunately authors disagree on the details:
    • Schwalbe
    • Marchewka
    • Verzuh
schwalbe sample project charter cont
Schwalbe: Sample Project Charter (cont.)

Roles and Responsibilities:

purpose of project charter marchewka
Purpose of Project Charter (Marchewka)

more comprehensive approach

  • Document the project MOV
  • Define project infrastructure
  • Summarize details of project plan
  • Define roles and responsibilities
  • Show explicit commitment to project
  • Set out project control mechanisms
what should be in a project charter
What Should be in a Project Charter?
  • Project Identification
  • Project Stakeholders
  • Project Description
  • Measurable Organizational Value (MOV)
what should be in project charter cont d
What Should be in Project Charter? – cont’d
  • Project Scope
  • Project Schedule
  • Project Budget
  • Quality Issues
  • Resources
what should be in a project charter cont d
What Should be in a Project Charter?– cont’d
  • Assumptions and Risks
  • Project Administration
  • Acceptance and Approval
  • References
  • Terminology
project rules verzuh 4
Project Rules (Verzuh #4)
  • Project success demands
    • goals agreed by all stakeholders
    • control of scope
    • management support
  • Project charter
    • brief, high level document formally establishing project
    • understood & signed by all key stakeholders
project rules cont
Project Rules (cont.)
  • Statement of Work (SOW)
    • NOT usual usage of term
    • per Verzuh establishes rules of game
    • goals, constraints, success criteria
    • negotiate, formally agree
    • ahead of game?
    • why not part of planning phase?
scope planning and the scope statement
Scope Planning and the Scope Statement
  • A scope statement is a document used to develop and confirm a common understanding of the project scope. It should include
    • a project justification
    • a brief description of the project’s products
    • a summary of all project deliverables
    • a statement of what determines project success
establish initiate
Establish Initiate
  • Charter establishes project
  • Next must compete with other projects for scarce resources
  • Prioritize – go or no go?
  • Go ahead
  • Begin Analysis Phase
  • needs requirements
  • detailed SOW
washington mercy hospital case study
Washington Mercy Hospital Case Study
  • Hospital contract with DCS
  • State of art patient info system
    • <3 sec response
  • Add ambulatory surgery center
  • Goes to arbitration
  • Management & project issues
  • Technical issues
  • Blame – responsibility?