CMPGT 300 Week 3 Learning Team Planning Process Groups and Developing the Scope.docx

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Successful Project Management
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Chapter 9 / Exercise 1
Successful Project Management
Clements/Gido
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Running head: SEGMENTATION STRATEGY PROJECT 1 Segmentation Strategy Project Name CPMGT/300 Date Instructor Name Segmentation Strategy Project
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Successful Project Management
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Chapter 9 / Exercise 1
Successful Project Management
Clements/Gido
Expert Verified
WEEK THREE TEAM SUMMARY INPUT 2 Strategic management analyzes the major initiatives taken by a company's top management on behalf of owners, involving resources and performance in internal and external environments. It entails specifying the organizations mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and programs. A balanced scorecard is often used to evaluate the overall performance of the business and its progress towards objectives. Recent studies and leading management theorists have advocated that strategy needs to start with stakeholders expectations and use a modified balanced scorecard which includes all stakeholders. Initiating Process Group The Initiating Process Group consists of the processes that facilitate the formal authorization to start a new project or a project phase. Initiating processes are often done external to the project’s scope of control by the organization or by program or portfolio processes, which may blur the project boundaries for the initial project inputs. For example, before beginning the Initiation Process Group activities, the organization’s business needs or requirements are documented. The feasibility of the new undertaking may be established through a process of evaluating alternatives to pick the best one. Clear descriptions of the project objectives are developed, including the reasons why a specific project is the best alternative solution to satisfy the requirements. The documentation for this decision also contains a basic description of the project scope, the deliverables, project duration, and a forecast of the resources for the organization’s investment analysis. The framework of the project can be
WEEK THREE TEAM SUMMARY INPUT 3 clarified by documenting the project selection processes. The relationship of the project to the organization’s strategic plan identifies the management responsibilities within the organization. In multi-phase projects, initiating processes are carried out during subsequent phases to validate the assumptions and decisions. The initial scope description and the resources that the organization is willing to invest are further refined during the initiation process. If not already assigned, the project manager will be selected. Initial assumptions and constraints will also be documented. This information is captured in the Project Charter and when it is approved, the project becomes officially authorized. Although the project management team may help write the Project Charter, approval, and funding are handled external to the project boundaries.

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