Start new projects by using a Feasibility Study
As you kick off new projects in the coming year, make sure you start out on the right foot. These tips will help you set up projects properly from the outset, and avoid problems down the track. Starting new projects When you start a new project, you need to follow these 8 “golden rules” to ensure its success... 1. Sponsorship : You need to have a highly motivated sponsor who understands the criticality of the project on the business and is motivated to making it a success. They need to have the resources available to support you, and the right level of “influence”in the business. 2. Targets : Sit down with your sponsor and agree specific targets. Make sure they are realistic. Perform a Feasibility Study to ensure that what is discussed is feasible to achieve. Only agree to the targets if there is sufficient contingency. Add an extra 20% to the budget and timeline if you can. 3. Scope : Keep your scope to a minimum. If you can’t get the contingency you need, then try and negotiate t