Assessment 1- Project life cycle.docx - Project Life Cycle Management ASSESSMENT 1 Part A 1 How can you check client or customer requirements To check

Assessment 1- Project life cycle.docx - Project Life Cycle...

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Project Life Cycle Management ASSESSMENT 1 Part A 1- How can you check client or customer requirements? To check client requirement is necessary have a document where you can write the client requirements. This technique is very important because you can read it later to clarify any issues Check whether all the essential information has been filled in Check to see if all information is legible and if you find an anomaly, always check with the client that this is what they want. .If you are gathering client via telephone, then you should ask probing and clarifying questions. Ask for more information on something if a customer has not given enough detail and clarifying questions either reiterate something that the client has said. 2- Demonstrate how you can forecast the economic feasibility of a project? Use an example. A feasibility economic is essentially a process for determining the viability of a proposed initiative or service and providing a framework and direction for its developments and delivery. It is a process for making sound decisions and setting direction. It is also a process which: - Is driven by research and analysis - Usually involves some form of consultation with stakeholders, community, users, etc… - Focuses on analysing, clarifying and resolving key issues and areas of concern. There is no universal format for a feasibility study. Feasibility studies can be adapted and shaped to meet the specific need of any given situation. Is designed to provide an overview of the primary issues related to a business idea. The purpose is to identify any “make or break” issues that would prevent your business from being successful in the marketplace. One example that we can use is a good market analysis is necessary in order to determine the project’s feasibility. This information provides the basis for the market section of the business plan. Because putting together a business plan is a significant investment of time and money, you want to make sure that there are no major roadblocks facing your business ideia before you make that investment, identifying such roadblocks Is the purpose of a feasibility study.
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may also include an economic analysis of the project. The purpose of economic analysis is to determine whether there is an economic case for the investment decision. This assessment goes beyond the items typically included in a financial analysis. Economic feasibility is interested in: the economic benefits from the project the economic costs of the project the balance of these expressed in present value terms (the net economic benefit) 3- Give an example of how you have used your planning skills.
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