PROJECT PLANNING
& MANAGEMENT
BE-Elect
LECTURE: 03
20 Feb, 2023
Recap: Lifecycle Phases of a Project
Initiation Planning Execution Close
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• The Initiation phase of the project addresses
the basic questions
• Why the project needs to be done?
Project • What benefits it will yield/provide?
Initiation • What works will be needed to complete the
Phase project?
• What resources are to be employed?
• What responsibilities will each person have?
• How the Project is going to be structured?
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Key Steps Involved in Project Initiation Phase
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Business Case
A Business Case provides reasoning for undertaking a project.
It can be a document or just a verbal agreement or a presentation.
According to the Project Management Institute, a business case is a "value proposition for a proposed
project that may include financial and nonfinancial benefit(s)."
Example: a software upgrade might improve system performance, but the "business case" is that better
performance would improve customer satisfaction, require less task processing time, or reduce system
maintenance costs.
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• It clearly outlines the need & benefits/value of the
Project
• It aligns the value of the project to the Strategic
Objectives of the organization
• It formulates the Goals of a Project
Essential
• Outlines the Scope
Characteristics
• Outlines the initial Project Cost/Budget
of a Business • Identifies major Risks to the Project
Case • Identifies the Stakeholders
• In some cases, it also includes a pre-feasibility
study, which is a rough screening for identifying
the most suitable options and discard the rest.
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Feasibility Study
• It is a detailed study of viable options and selects the most suitable one on the basis of
business needs and constraints.
• Broadly it looks at five major areas:
T E L O S
• Technical • Economical • Legal • Operational • Schedule
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Feasibility Study
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After approval of a feasibility, a project charter
is developed
A Project Charter is a document which formally
authorizes a project
A Project Charter consists of (but not limited
to):
Project Charter
• Project Overview and Background
• Objective
• Scope
• Deliverables
• Budget
• Timeline
• Risks
• Stakeholders
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