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Helps to keep control of costs: Depending on the scope of the project, some projects can incur organisations significant costs. It is important therefore to keep on budget and to control spending. Project management greatly reduces the risk of budget overruns.

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It will be helpful to rank projects against each of these criteria separately and then compile a single ranking that weights each of these criteria against each other. This ranking process is typically used to feed quarterly budget decisions but may be requested at any time.

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The key feature of this activity is recognizing that identifying candidate projects is something that an organization should do on a regular basis, not just once each year. Further, when examining projects for approval, it is vital to also examine the resource capacities and capabilities available for assignment. It is futile to assign a major new project requiring extensive discovery of business requirements if no business analysts are available. Project Identification proceeds Project Initiation.

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Use Criteria, This process is intended for proposed projects that… Are of significant size and will require a significant amount of time to complete. Must be tightly coordinated with other active projects. Will use new or emerging technology. Will require a new work process. Are intended for a new customer or unproven market. Will impact numerous departments or organizations. Are highly critical to the success of the business. Are a known high risk. This process is not intended for operational requests (Type 3) that may be handled directly by the IT Help Desk or small initiatives (Type 2) that are routed to IT Managers for immediate scheduling and execution.

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Every project management professional will admit that planning and organisation are major parts of project management as well as the implementation of created plans. This article will give you a project management step by step guide. A project itself, is described as a specific start undertaken with parameters designed to be followed in order to produce a defined outcome. A project holds its own against ongoing processes due to the fact that it has a specific start and end date whereas processes can be ongoing for an unidentified period of time.

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Document Business Case - Evaluate all Candidate Project Information that has been provided by the requesting organization or that has been gathered by a technical analyst. If additional information is needed, issue an Information Request to the requester. Format this information into a Business Case. Assign the Candidate Project a new Project Code.

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Every project management professional will admit that planning and organisation are major parts of project management as well as the implementation of created plans. This article will give you a project management step by step guide. A project itself, is described as a specific start undertaken with parameters designed to be followed in order to produce a defined outcome. A project holds its own against ongoing processes due to the fact that it has a specific start and end date whereas processes can be ongoing for an unidentified period of time.

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Clearly defines the plan of the project before it begins: The importance of planning in project management cannot be ignored. The more complex project, the more scope there is for chaos. One of project management's primary functions is to tame the chaos by mapping out a clear plan of the project from beginning to end.

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Review Business Case: The Business Case will be examined by an screening body with the corporate authority to accept or reject a Candidate Project. When a Business Case is accepted, the Candidate Project is captured in a repository for ranking and selection. If additional information is required on a Business Case, note it as “pending” and issue an Information Request to the requester. If a Business Case is rejected, send the information to the requester with an explanation for the rejection. Remain this information in a repository.

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Project management is comprised of a number of essential and basic functions that add to its importance and which are enhanced by technology and project management software such as Sinnaps:

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Rank Candidate Projects: When requested, all Candidate Projects that are in the repository should be objectively ranked in order of significance. The ranking criteria should include Target due dates, Impact on the total business, Impact on the technology architecture, Impact on other applications, Project size, cost and duration and Project risk.

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Helps to keep control of costs: Depending on the scope of the project, some projects can incur organisations significant costs. It is important therefore to keep on budget and to control spending. Project management greatly reduces the risk of budget overruns.

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Update Business Case: When additional information is received on a Candidate Project, obtain the pending Business Case from the repository and revise the data. This Business Case should now be reconsidered by process 1.2.

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Project Identification is a repeatable process for documenting, validating, ranking and approving candidate projects within an organization.Due to the changing financial conditions within the total organization, it is necessary to establish a stable process for approving projects for initiation. This process will validate the business reason for each candidate project.

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Helps to keep control of costs: Depending on the scope of the project, some projects can incur organisations significant costs. It is important therefore to keep on budget and to control spending. Project management greatly reduces the risk of budget overruns.

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It will be helpful to rank projects against each of these criteria separately and then compile a single ranking that weights each of these criteria against each other. This ranking process is typically used to feed quarterly budget decisions but may be requested at any time.

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Every project management professional will admit that planning and organisation are major parts of project management as well as the implementation of created plans. This article will give you a project management step by step guide. A project itself, is described as a specific start undertaken with parameters designed to be followed in order to produce a defined outcome. A project holds its own against ongoing processes due to the fact that it has a specific start and end date whereas processes can be ongoing for an unidentified period of time.

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Managing a project more often than not requires a team of people with skills and abilities that complement each other and help to work towards reaching the goal of the project. The team, along with its project manager are responsible for planning, organising and monitoring project progress. Any project management professional will tell you that every project follows a project life cycle and certain project management steps that bring it from start to finish. Projects are a lot more than simply preparing resources and materials and require a deeper element of management.

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All organisations, business and companies manage project, people, costs and tasks on a daily basis. This can prove to be a complicated task. Having a solution that helps to organise and manage these aspects proves invaluable to a company. This solution is project management software such as Sinnaps.

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