Building Blocks of a Successful Project Part 2: Business Objectives

Initiation

There are  certain fundamentals that need to be in place to increase the probability of project success. The second of these is to have well-defined Business Objectives. These should be established as part of the original Business Case for the project. It is surprising how many times I have seen these absent from an initiative.

Business Objectives are the “CEO’s view” of the project. They should make or save money, take advantage of opportunity, respond to new law and regulations, or increase competitive advantage. They should be specific and measurable to avoid what I call “Mom and apple pie” objectives like “We will be more efficient”. Really? Exactly how efficient? Will we be able to cut costs or deploy those efficiency savings to revenue opportunities?

I will go into more detail on this topic when I address the Project Charter. Suffice to say for now that the main reason for having solid Business Objectives as a building block for project success is that it guides all decision making on a project. Whether you realize it or not, all of the project team members are decision makers, typically making many micro-decisions every day. The Business Objectives act as the beacon of light for these decisions. Any decision that will reduce the impact of the Business Objectives must be escalated to the Project Sponsor.

Building Blocks of a Successful Project Part 1: Business Sponsorship

Initiation

There are certain fundamentals that need to be in place to increase the probability of project success. The first of these is to have an active and committed Business Sponsor. The primary roles of the Business Sponsor are to provide funding, help clear obstacles to success, provide resources and make key decisions.

It is surprising how many projects (IT projects especially) proceed without this key building block. The thinking is that the merit of the project itself will drive it to successful conclusion. This is a huge mistake. Projects like this will typically encounter a lack of cooperation from the business units as their priorities do not match the priorities of those driving the project. It is ok for IT to get the ball rolling, but before the project is officially approved, the Business Sponsor must be identified and take ownership.

Welcome!

The Project Management Institute (PMI) encourages its members to advance the profession. One of  the ways to do this is by helping others increase their project management skills. The target audiences for this blog are professional PM’s early in their careers as well as those who manage projects but are not PM’s by title or trade. I will be posting every week or so, offering practical tips and tools on the full range of project management topics. I hope you will find this useful and help you advance your career.

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