What do we need to manage on projects?
One topic discussed during my PRINCE 2 course, is the key things to be managed in any project. In fact there are six aspects of project performance to be managed.
Costs
All projects must be affordable. Some projects start without any particular budget in mind. However, there are many factors which can lead to overspending. Also, some opportunities to cut costs.
Timescales
All projects must deliver within the expected timeframe. The Project Manager must be able to answer the questions: ’When will it be finished?’
Quality
Not only is finishing on time and within budget desirable, but it is not much good if the products delivered from the project don’t work. In PRINCE2 terminology, all of the project’s products must be 'fit for purpose'.
Scope
The scope of the project refers to the sum total of all of the deliverables (or products) that will be delivered from the project. All stakeholders must understand and agree what the project will deliver. The customer may assume that a bathroom is included in the price of the house. The supplier may view these as ’extras’. There must therefore be agreement on the project’s scope. The Project Manager should be careful not to deliver beyond the agreed scope as this typically leads to delay, overspend and what is typically known as 'scope creep’, which is the uncontrolled growth of the scope.
Risk
All projects have risks. How much risk are we prepared to accept? Should we build a house in an area prone to flooding? If we decide to proceed, is there something that can be done about the risk? For example, can we take out insurance against it?
Benefits
Every project must start by answering one simple question: ’Why are we doing this?’ Simply delivering the project's products on time, within budget and to quality specifications is not enough, if benefits are not going to be derived from using these products
Costs
All projects must be affordable. Some projects start without any particular budget in mind. However, there are many factors which can lead to overspending. Also, some opportunities to cut costs.
Timescales
All projects must deliver within the expected timeframe. The Project Manager must be able to answer the questions: ’When will it be finished?’
Quality
Not only is finishing on time and within budget desirable, but it is not much good if the products delivered from the project don’t work. In PRINCE2 terminology, all of the project’s products must be 'fit for purpose'.
Scope
The scope of the project refers to the sum total of all of the deliverables (or products) that will be delivered from the project. All stakeholders must understand and agree what the project will deliver. The customer may assume that a bathroom is included in the price of the house. The supplier may view these as ’extras’. There must therefore be agreement on the project’s scope. The Project Manager should be careful not to deliver beyond the agreed scope as this typically leads to delay, overspend and what is typically known as 'scope creep’, which is the uncontrolled growth of the scope.
Risk
All projects have risks. How much risk are we prepared to accept? Should we build a house in an area prone to flooding? If we decide to proceed, is there something that can be done about the risk? For example, can we take out insurance against it?
Benefits
Every project must start by answering one simple question: ’Why are we doing this?’ Simply delivering the project's products on time, within budget and to quality specifications is not enough, if benefits are not going to be derived from using these products
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